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Feb 07, 2022, 04:30 ET
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NEW YORK, Feb. 7, 2022 /PRNewswire/ — The Diabetic Neuropathy Drugs market is segmented into two categories based on the product (calcium channel alpha-2-delta ligand, SNRIs and TCAs, and others) and geography (North America, Europe, Asia, and ROW). The market share is expected to increase by USD 2.37 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 12.20%.
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Parent Market Analysis
Technavio categorizes the global diabetic neuropathy drugs market as a part of the global pharmaceuticals market within the global health care market.
Technavio uses the total revenue generated by manufacturers to estimate the global diabetic neuropathy drugs size. External factors influencing the parent market’s growth potential in the coming years have been thoroughly investigated in our research analysis, to know more about the levels of growth of the diabetic neuropathy drugs market throughout the forecast period, Download a free sample.
Diabetic Neuropathy Drugs Market Value Chain Analysis
To maximize profit margins and evaluate business plans, an end-to-end understanding of diabetic neuropathy drugs is required. The report will help vendors drive costs and enhance customer services during the forecast period.
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The diabetic neuropathy drugs market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the best of the opportunity, the market vendors should focus more on the fast-growing segment’s growth prospect while maintaining their positions in the slow-growing segments.
We provide a detailed analysis of vendors operating in the diabetic neuropathy drugs market, including some of the vendors such as Alnylam Pharmaceuticals Inc., Astellas Pharma Inc., AstraZeneca Plc, Daiichi Sankyo Co. Ltd., Eli Lilly and Co., Grunenthal GmbH, Johnson and Johnson Inc., NeuroBo Pharmaceuticals Inc., Novartis AG, and Pfizer Inc.
Backed with competitive intelligence and benchmarking, our research reports on the diabetic neuropathy drugs market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Product Insights and News
The diabetic neuropathy drugs market forecast report offers in-depth insights into key vendor profiles and offerings – Download Free Sample Report
The diabetic neuropathy drugs market share growth in North America will be significant during the forecast period. The US and Canada are the key markets for the diabetic neuropathy drugs market in North America. Market growth in this region will be faster than the growth of the market in ROW.
Diabetic neuropathy is becoming more common in North America, which is driving the market. Diabetic neuropathy has become more common as the prevalence of diabetes has increased. Type 2 diabetes accounts for 90 percent to 95 percent of all diabetes cases, according to the CDC. Diabetes will affect roughly 30.3 million individuals of all ages in the United States by 2021. During the projected period, the market in the area is expected to rise at a faster rate.
Moreover, countries like the US, Canada, Germany, China, and the UK are the key market for the diabetic neuropathy drugs market in North America, owing to the growing prevalence of diabetic neuropathy in this region.
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Key Market Dynamics-
Diabetic neuropathy can cause nerve damage in a person’s feet and legs. Diabetic neuropathy has become more common as the global prevalence of diabetes has increased. According to the CDC, 50 percent of patients with diabetes will have nerve damage by 2021. The longer someone has diabetes, the more likely they are to develop neuropathy. Peripheral neuropathy affects one-third to half of the patients with diabetes. Diabetic neuropathy affects 60 percent to 70% of patients with diabetes. As a result, the market is growing due to an increase in the number of diabetic neuropathy cases.
Traditional approaches to the management of diabetic neuropathy-related neuropathic pain resulted in a slew of problems that hampered patient compliance. Because existing medications have limited absorption, topical treatments are thought to be an effective strategy to manage chronic pain. Topical therapies are also less dangerous than systemic ones. Diabetic neuropathy can be treated with 5% topical lidocaine given as a patch, for example. Qutenza was licensed for the treatment of non-diabetic people with peripheral neuropathy in May 2009, and diabetic patients were added to the drug’s license in September 2015. The market is growing as a result of the rapid development of tropical patches for treatment.
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Diabetic Neuropathy Drugs Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 12.20%
Market growth 2021-2025
$ 2.37 billion
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 38%
Key consumer countries
US, Canada, Germany, China, and the UK
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Alnylam Pharmaceuticals Inc., Astellas Pharma Inc., AstraZeneca Plc, Daiichi Sankyo Co. Ltd., Eli Lilly and Co., Grunenthal GmbH, Johnson and Johnson Inc., NeuroBo Pharmaceuticals Inc., Novartis AG, and Pfizer Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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