Diabetic Neuropathic Pain Market to Grow with a CAGR of 5.68% through 2028
Raising awareness about diabetic neuropathic pain and
its management are expected to drive the Global Diabetic Neuropathic Pain Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Diabetic
Neuropathic Pain Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Diabetic Neuropathic Pain Market
stood at USD 1.64 billion in 2022 and is anticipated to grow with a CAGR of 5.68% in the forecast period, 2024-2028.
The Global Diabetic Neuropathic Pain Market is
experiencing significant growth driven by a confluence of factors that are
reshaping the landscape of diabetes care. Diabetic neuropathic pain is a
distressing complication of diabetes mellitus, characterized by nerve damage
that results in chronic pain and discomfort for patients. As the prevalence of
diabetes continues to rise globally, so too does the incidence of diabetic
neuropathy, fueling the demand for effective pain management solutions. The foremost driver of the Global Diabetic Neuropathic
Pain Market is the escalating diabetes epidemic. Diabetes mellitus has reached
pandemic proportions, with millions of individuals worldwide diagnosed with
this chronic condition. According to the International Diabetes Federation
(IDF), there were approximately 463 million adults living with diabetes in
2019, a number projected to rise to 700 million by 2045. As diabetes prevalence
increases, so does the pool of patients at risk of developing diabetic
neuropathy, the most common cause of neuropathic pain in diabetics. This
ever-expanding patient base is a primary driver for the market's growth.
The global aging population is another significant
factor contributing to the expansion of the diabetic neuropathic pain market.
With increasing life expectancies, there is a greater likelihood of individuals
developing diabetes and its associated complications as they age. Older adults
are more susceptible to diabetic neuropathy, making them a substantial segment
of the patient population in need of pain management solutions. As the
demographic shift towards an older population continues, the market for
diabetic neuropathic pain management is expected to expand further.
Pharmaceutical companies have been instrumental in
driving innovation within the diabetic neuropathic pain market. There is a
continuous quest for more effective and safer medications to alleviate the debilitating
pain experienced by diabetic neuropathy patients. Anticonvulsants,
antidepressants, and opioids are among the commonly prescribed pharmaceuticals
for managing neuropathic pain. However, the market is witnessing the
development of novel drugs with improved efficacy and reduced side effects.
These advancements not only provide better pain relief but also expand the
treatment options available to healthcare providers and patients.
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Neuropathic Pain Market.”
In addition to pharmaceuticals, non-pharmacological
approaches to diabetic neuropathic pain management are gaining prominence.
These approaches include neurostimulation devices, physical therapy, and
lifestyle modifications. Neurostimulation devices, such as spinal cord
stimulators and peripheral nerve stimulators, offer an alternative to
medication and have shown promising results in pain reduction. Physical therapy
helps patients improve their mobility and manage pain through exercise and
rehabilitation programs. Lifestyle modifications, including dietary changes and
blood sugar control, are essential in preventing and managing diabetic
neuropathy. The growing interest in non-pharmacological treatments is
diversifying the market and offering patients more comprehensive care options.
The Global Diabetic Neuropathic Pain Market is
segmented into Type, Route of Administration, Distribution Channel, Regional
Distribution, And Company.
Based on the Neuropathy Type, Peripheral Neuropathy
emerged as the dominant segment in the global market for Global Diabetic
Neuropathic Pain Market in 2022. The high prevalence of Peripheral Neuropathy
is primarily due to the chronic nature of diabetes, particularly when blood
sugar levels are poorly controlled over an extended period. Several anticonvulsant drugs, such as gabapentin and
pregabalin, have been approved by regulatory agencies for the treatment of
diabetic neuropathic pain. These medications have gained widespread recognition
among healthcare providers for their efficacy in pain relief, and they are
often recommended as a first-line treatment option. these drugs work by stabilizing abnormal electrical
activity in nerves and reducing pain signals, making them a suitable choice for
managing the shooting, burning, or tingling sensations that diabetic
neuropathic pain can cause.
Based on the Drug Class, the Anticonvulsants segment
emerged as the dominant player in the global market for Global Diabetic
Neuropathic Pain Market in 2022. This preference for anticonvulsants is due to
their effectiveness in managing the neuropathic pain associated with diabetes
and their well-established role as a primary treatment option for diabetic
neuropathic pain.
Based on the Distribution
Channel, the Retail Pharmacies segment emerged as the dominant player in the
global market for Global Diabetic Neuropathic Pain Market in 2022. Retail
pharmacies are prevalent and easily accessible in both urban and rural areas,
making them a convenient choice for individuals seeking medications and
treatments for diabetic neuropathic pain. Patients can visit their neighborhood
pharmacy for quick access to the necessary products. Retail pharmacies employ
trained pharmacists who can provide valuable guidance and recommendations to
patients. These pharmacists are knowledgeable about the various treatment
options available for diabetic neuropathic pain and can offer advice on
selecting appropriate medications and managing potential side effects.
Consumers often have established trust in well-known
pharmacy chains and recognize reputable brands of diabetic neuropathic pain
medications. This trust factor influences their choice to visit retail
pharmacies over other distribution channels.
North America emerged as the dominant player in the
global Diabetic Neuropathic Pain Market
in 2022, holding the largest market share North America, particularly
the United States and Canada, has one of the highest diabetes prevalence rates
in the world. The increasing incidence of diabetes in this region directly
correlates with a larger pool of individuals at risk of developing diabetic
neuropathy, a common complication of diabetes. This region benefits from the
timely approval and availability of advanced pharmaceuticals, medical devices,
and treatment modalities for diabetic neuropathic pain, contributing to market
growth.
Major companies operating in Global Diabetic
Neuropathic Pain Market are:
- Eli Lilly and Company
- Grunenthal
- Collegium Pharmaceutical, Inc.
- Lupin
- Daiichi Sankyo
- Azurity Pharmaceuticals, Inc.
- Novartis AG
- Pfizer, Inc.
- Endo International plc. (Par Pharmaceutical)
- Johnson & Johnson
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“The Global Diabetic
Neuropathic Pain Market is poised for significant growth in the coming years
due to several compelling factors. Firstly, advancements in personalized
medicine approaches are expected to revolutionize lipodystrophy treatment by
tailoring therapies to individual patient characteristics, enhancing treatment
efficacy, and improving overall patient outcomes. Secondly, the market is
witnessing a surge in innovative therapies and interventions specifically
designed to address the complexities of lipodystrophy, offering new hope for
individuals living with this condition. Besides, increased patient advocacy and
awareness campaigns are driving early diagnosis, timely intervention, and
improved access to care, thus bolstering market demand. Lastly, the integration
of lipodystrophy management into routine HIV care programs is facilitating
early diagnosis and a more holistic approach to treatment, contributing to
market growth.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“Diabetic Neuropathic Pain Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Neuropathy Type (Peripheral Neuropathy, Autonomic Neuropathy, Proximal Neuropathy,
Focal Neuropathy), Drug Class (Antidepressants, Anticonvulsants, Analgesics),
By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online
Pharmacies) By Region and Competition”, has evaluated the future growth potential of Global
Diabetic Neuropathic Pain Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Diabetic
Neuropathic Pain Market.
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