Diabetic Neuropathy Market
Diabetic Neuropathy Market By Disorder (Peripheral Neuropathy, Autonomic Neuropathy, Proximal Neuropathy), By Treatment (Drugs, Antidepressants, Opioid, NSAIDs), By Distribution Channel & By Region - Global Market Insights 2023 to 2033
Analysis of Diabetic Neuropathy Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Diabetic Neuropathy Market Outlook (2023 to 2033)
The global diabetic neuropathy market is valued at US$ 4.2 billion in 2023 and is estimated to reach US$ 8 billion by the end of 2033. Global demand for diabetic neuropathy is forecasted to increase steadily at 6.6% CAGR over the next ten years.
Diabetes has the potential to damage an individual’s nerves and this damage caused is termed diabetic neuropathy and mostly affects the feet and legs. Diabetic neuropathy symptoms can be mild for some while severe for others causing numbness, issues with controlling the heart rate, etc., and can even prove fatal in certain cases if not treated with proper attention and care.
The world has witnessed a notable increase in the incidence of chronic diseases around the world and this trend is projected to significantly boost demand for diabetic neuropathy treatment in the future since cases of diabetes are rising rapidly around the world. Growing focus on health, rising investments in medical research, increasing healthcare expenditure, growing awareness regarding diabetic neuropathy, poor lifestyle habits, high incidence of obesity, and an expanding aging population are key aspects that could promulgate the demand for diabetic nerve treatment products and therapies across the forecast period.
Rising availability of over-the-counter diabetic neuropathy treatment medications is anticipated to create lucrative growth opportunities for established as well as upcoming diabetic neuropathy drug manufacturers in the future. Homeopathic diabetic neuropathy, multivitamins for diabetic neuropathy, and diabetic neuropathy holistic treatment are some of the popular treatments available in the marketplace at present.
Increasing advancements in research and development are predicted to bolster the demand for advanced treatment therapies and products such as infrared therapy for diabetic neuropathy going forward.
On the flip side, the high availability of alternative therapies for diabetic neuropathy treatment and the high costs of diabetic neuropathy therapeutics and drugs are extrapolated to thwart overall market development through 2033.
Market Size (2023)
US$ 4.2 Billion
Projected Market Value (2033F)
US$ 8 Billion
Global Market Growth Rate (2023 to 2033)
Market Share Peripheral Neuropathy (2022)
Proximal Neuropathy Segment Growth Rate (2023 to 2033)
Peripheral Neuropathy Segment Growth Rate (2023 to 2033)
Key Companies Profiled
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Which Factors are Altering Demand for Neuropathic Pain Treatments?
“Growing Prevalence of Diabetes across the World”
Diabetes has become a renowned worldwide phenomenon that affects millions of people. Adoption of sedentary lifestyles and poor eating habits are at the helm of the rising incidence of diabetes around the world and are expected to bolster demand for novel diabetic neuropathy treatment formulations in the future. The increasing geriatric population across the world is also slated to contribute to the growing prevalence of diabetes and diabetic neuropathy on a global level going forward.
- As per the statistics listed on the International Diabetes Federation (IDF) website, nearly 643 million people are anticipated to be suffering from diabetes by the end of 2030. Nearly 90% of these people are expected to be living with Type 2 diabetes.
“Increasing Investments in R&D on Diabetes Treatment”
Diabetes has become a public health issue, which has led to an increased focus on the research and development of treatments for the condition from the public as well as private sectors. Supportive government initiatives to promote the development of diabetic nerve treatment products are anticipated to uplift market growth over the coming years. Moreover, increasing investments in healthcare R&D by prime biopharmaceutical companies and private sector organizations are also projected to bolster market evolution in the future.
- A new study published by researchers at the Salk Institute in Nature (a leading science journal) on 25th January 2023 revealed that low levels of amino acid serine increased the risk of developing peripheral neuropathy for diabetic mice. These new findings could be used to explore the use of serine supplementation to alleviate the symptoms of neuropathy symptoms and possibly take us one step closer to developing a possible cure.
How are New Companies Transforming Diabetic Neuropathy Care?
“Start-ups Focusing on Development of Novel Treatment Products & Services”
Aspiring diabetic neuropathy treatment companies are focusing on developing novel products that provide diabetic foot pain relief and better help for diabetic neuropathy to revolutionize the marketplace and establish a presence for themselves on a global level.
- Healables, a start-up based in Israel is revolutionizing pain management and chronic pain relief by using a combination of artificial intelligence and embedded electrodes. The electrodes are embedded in an elasticized sleeve that gently vibrates and stimulates cells into self-repair. The device is undergoing trials with diabetic neuropathy patients in the United Kingdom at Derby Teaching Hospitals NHS Foundation Trust.
New entrants in the industry are also focusing on bagging new funds to finance their research and expansion efforts that help them strengthen their stance in the global competitive landscape.
- In August 2022, Yostra Labs, an India-based medtech start-up announced that it had raised US$ 484,164 in a seed funding round that was led by Villgro Innovations Foundation, Indian Angel Network, and other investors. The company has a specialized portfolio of products for the management and diagnosis of peripheral neuropathy. The company was expected to use the raised capital to expand its workforce and marketing teams.
This latest diabetic neuropathy market research report by Fact.MR, a market research and competitive intelligence provider, proffers a comprehensive assessment of how new developments by start-ups are altering product standards, pricing trends, local supply, and safety regulations on a global level.
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Will the United States be a Profitable Market for Diabetic Neuropathy Drug Suppliers?
“Growing Obesity to Create Attractive Business Scope”
Obese people are at an increased risk of contracting diabetes and diabetic neuropathy, which makes the United States a highly opportune market because obesity has been increasing at an alarming pace in the country in recent years. Poor lifestyle choices, lack of exercise, consumption of processed foods, and improper nutrition are key factors leading to an increasing prevalence of obesity among the citizens of the United States and driving diabetic neuropathy market growth potential.
Increasing investments in research, the presence of developed healthcare infrastructure, the launch of novel therapeutics for diabetic foot pain relief, and an increasing number of product approvals from regulatory authorities are other prospects that promulgate demand for diabetic nerve pain treatment. Early adoption of diabetic neuropathy treatment drugs and the growing availability of advanced treatments open up new avenues of opportunity for diabetic neuropathy treatment companies in the country.
Why are Investors Focusing on Japan for Diabetic Neuropathy?
“Expanding Geriatric Population Propelling Demand for Diabetic Nerve Pain Treatment”
Japan is a highly remunerative market for established as well as upcoming diabetic neuropathy treatment companies owing to its growing senescent population that is at increased risk of suffering from diabetic foot pain and other health conditions. Increasing investments by the public and private sectors to provide better healthcare for the elderly in Japan are anticipated to bolster market growth in the future.
Diabetic neuropathy natural treatment techniques and the use of natural herbs for diabetic neuropathy are anticipated to be popular in Japan owing to the high popularity and reliance of people on ancient medical practices.
Which Countries in Europe are Lucrative Markets?
“Germany, Portugal, & Ireland to Be Prime Markets in Europe”
Increasing healthcare expenditure and the rising geriatric population are the foremost prospects that are anticipated to uplift diabetic neuropathy treatment demand in the European region over the coming years. The rising number of people affected by diabetes and the increasing availability of novel over-the-counter diabetic neuropathy treatment medications and therapies are also anticipated to bolster market growth in European countries such as Germany, Ireland, Portugal, and the United Kingdom.
Which Disorders Lead the Demand for Diabetic Neuropathy Treatment?
“Proximal & Peripheral Diabetic Neuropathy Generating Majority of Market Revenue”
Based on disorder, the diabetic neuropathy market is segmented into peripheral neuropathy, autonomic neuropathy, proximal neuropathy, and focal neuropathy.
Treatment of peripheral neuropathy is currently limited to pain management and increasing investments in research are projected to bolster the demand for proper treatment through the regeneration of nerves over the coming years. Peripheral neuropathy accounted for more than half of the global market share in 2022 and is poised to register an approximate CAGR of 5.8% over the next ten years.
Meanwhile, growing cases of people suffering from type 2 diabetes are projected to bolster demand for proximal diabetic neuropathy formulations since it is most common in people with type 2 diabetes. Proximal neuropathy is projected to account for nearly 1/4 of the global market share by the end of 2033.
Competitive Landscape :
Leading diabetic neuropathy treatment providers are focusing on hastening their research and development process to launch novel drug formulations and therapies to provide diabetic nerve pain relief.
- In January 2023, Neuralace Medical Inc., a medical technology company announced the enrollment of the first patients for its Axon Therapy and Painful Diabetic Neuropathy (AT-PDN) study with a target of around 80 patients. The study was estimated to be conducted at five clinical sites and led by Dr. Lora Brown at TruWell Health, Florida.
- In November 2020, Helixmith, a biotechnology company based in South Korea announced the start of a new trial for patients with diabetic neuropathy. The company was focusing on using gene therapy to treat diabetic peripheral neuropathy (DPN).
Key Segments of Diabetic Neuropathy Industry Research
By Disorder :
- Peripheral Neuropathy
- Autonomic Neuropathy
- Proximal Neuropathy
- Focal Neuropathy
By Treatment :
- Anticonvulsant Drugs
- Other Drugs
- Transcutaneous Electrical Nerve Stimulation (TENS)
By Distribution Channel :
- Retail Pharmacies
- Online Pharmacies
By Region :
- North America
- Latin America
- FAQs -
The global diabetic neuropathy market is valued at US$ 4.2 billion in 2023.
Demand for diabetic neuropathy treatment is set to amass a revenue of US$ 8 billion by 2033-end.
From 2023 to 2033, diabetic neuropathy demand is set to rise at 6.6% CAGR.
Nearly 50% of all diabetic patients suffer from neuropathy.
Peripheral diabetic neuropathy is the most common type at present.