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Global Diabetic Neuropathy Market to Grow at a CAGR of 8.12% During 2022-2027, Driven by the Innovations in Drugs Discovery

According to a new report by EMR titled, ‘Global Diabetic Neuropathy Market Report and Forecast 2022-2027’, the global diabetic neuropathy industry attained a value of USD 4.37 billion in 2020. The market is further expected to grow at a CAGR of 8.12% in the forecast period of 2022-2027.

High prevalence of sugar intake among people leads to increase in diabetes.  The rising diabetic population globally, linked with growing awareness among people for healthcare, is aiding the market. Rise in research and development activities in drug discovery and development has contributed to growth opportunities. Increasing ageing population and rise in healthcare expenditure for diabetes is driving the market of diabetic neuropathy. Furthermore, increasing use of diabetic neuropathy in hospitals, pharmacy, clinics, and other industries is aiding the market growth.

The COVID-19 virus has led to a direct impact on diabetic patients, leading to rise in diabetic neuropathy. Growing awareness about diabetes and related nerve disorders is leading to rise in healthcare expenditure, which is driving the market growth. Additionally, rapid product launches and rising collaborations within the companies is aiding the market for diabetic neuropathy. Advancement of new drugs to assist with treating the issues of diabetic neuropathy is probably going to help improvement of the market throughout the hour of projection.

Government approval for funding and increasing research in diabetic neuropathy is driving the market growth. Government is taking initiatives for innovations in drugs discovery, offering growth opportunities. In January 2022, NeuroMetrix, Inc (NASDAQ: NURO), one of the leading companies in the market, received FDA breakthrough device designation for treatment of chronic Chemotherapy Induced Peripheral Neuropathy (CIPN), which will help in reducing moderate to severe symptoms with its wearable neurostimulation technology.

Market Analysis by Type, Treatment Methods, and Region:

  • The market, on the basis of type, can be divided into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy.
  • Based on treatment methods, the industry can be divided into antidepressants, anti-seizure medications, anticonvulsants, electrical nerve stimulation, topical medications, among others.
  • The regional markets for diabetic neuropathy include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Discovery and new innovations in drug industry is leading the growth of the market for diabetic neuropathy.
  • Advancement in technology is driving the market growth potential.
  • Increasing disposable income and increasing investment by the key players is aiding the market growth.
  • Rise in government expenditure for healthcare offers growth opportunity for diabetic neuropathy market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global diabetic neuropathy market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the type, treatment methods, and regions of diabetic neuropathy.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the diabetic neuropathy industry include NeuroMetrix, Inc, Allergan PLC, Pfizer Inc, Eli Lilly and Company, and Novartis AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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