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Global Diabetic Neuropathy Market Was Valued At US$ XX Mn In 2019 And It Is Expected To Reach More Than US$ 6.1 Bn By 2028, Likely To Grow With The CAGR Of 5.4% During The Forecast Period.
Rising occurrence of diabetes and increasing complexities associated with diabetes includes blindness and nerve damage were vital factors propelling its market growth in the global diabetic neuropathy market. In addition, the rising geriatric population worldwide, sedentary lifestyle, urbanization had shifted the eating habits, genetic composition, plunge in the incidence rate of chronic disease such as obesity, cardiovascular disease etc. are other major factors anticipated to propel the diabetic neuropathy market worldwide. The high cost of treating neuropathy is anticipated to hamper the growth of the global diabetic neuropathy market. The National Institute of Neurological Disorders and Stroke (NINDS) is funding for research activities on neuropathy. The governments of different nations and NGO’s are encouraging awareness in the context of diabetic neuropathy to eliminate and control it. Increase in the research and development activities contributed to the development of diabetic neuropathy market growth. There is a significant improvement in the treatment facilities globally by several initiatives being made by the governments contributed to the plunge in this market growth.
Rising Demand For The Healthcare Industry Is Anticipated To Boost The Demand For Diabetic Neuropathy
The healthcare industry is one of the most admired sectors in the global market because of its importance and vital functions. Diabetic neuropathy has considerably impacted the growth of healthcare because of its growth rate globally.
Peripheral Neuropathy Segment Held A Prominent Share In Global Diabetic Neuropathy Market In 2019
The diabetic neuropathy market is dominant by the contribution of peripheral neuropathy; is a widely prevalent disorder in the global diabetic neuropathy market. Peripheral neuropathy had accounted for about more than half the market demand globally at present. During the forecast period, it is expected to propel its demand marginally by exceeding other segments in terms of growth rate. The market of peripheral neuropathy estimated as 3.2% of expanding CAGR during the forecast period.
North America Is Expected To Dominate The Diabetic Neuropathy Market During The Forecast Period
The prominence of the North American market for diabetic neuropathy globally is high, that had accounted for over 35% of global market demand and is followed by Europe. The market growth of the North American region is anticipated to rise in a number of diabetic cases concerned with increasing awareness among people about diabetes and related complexities, and a considerable increase in research and development practices. A rise in the diabetes rate in the North American region plunged the growth of diabetic neuropathy in this region. Moreover, the US and Canada are the leading markets in the North American region and has a vital role in this region.
Global diabetic neuropathy market is consolidated with key players holding a major share of the global diabetic neuropathy market. The firms involved in diabetic neuropathy are offering innovative products and services that are enabling them to compete in the global market.
Key players operating in the global diabetic neuropathy market are GlaxoSmithKline Plc., F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Astellas Pharma Inc., Johnson & Johnson, Abbott Laboratories, Lupin Limited, Glenmark Pharmaceuticals Limited, Depomed, Inc., and Pfizer Inc.
Global Diabetic Neuropathy Market Key Segments:
Global Diabetic Neuropathy Market, By Disorder
- Peripheral Neuropathy
- Autonomic Neuropathy
- Proximal Neuropathy
- Focal Neuropathy
Global Diabetic Neuropathy Market, By Distribution Channel
Global Diabetic Neuropathy Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America