Diabetic Neuropathy MarketSize and Trends

Market- Trends

Diabetic Neuropathy is the damage caused to the nerve due to diabetes which often leads to pain and numbness in feet or lower legs. The pain can be experienced in other parts of the body such as hips, wrist and back depending upon the effect of neuropathy. There are different types of neuropathy such as focal neuropathy, proximal neuropathy, peripheral neuropathy and autonomic neuropathy. An estimated 50% of diabetic population suffers from diabetic neuropathy across the globe. Further, as per CDC estimates, 6-7 people per 1000 diabetic population suffer from diabetic neuropathy in the U.S. Rise in aging population coupled with rise in prevalence of diabetes, the patient pool for diabetic neuropathy will increase significantly, in turn fueling growth of the diabetic neuropathy market.

New drugs to treat neuropathy pain will alter the current market dynamics

The diabetic neuropathy market has been under continuous evolution from the past 5 years. There are generic drugs and specialty drugs including antidepressants and antispasmodics, as well to treat pain associated with the disorder. However, in 2011, there were an estimated 79 novel drugs in the clinical trial phase with Horizant (Gabapentin Enacarbil extended release) being one of the most effective drug. The pharmaceutical companies will continue the required geographic expansion and release novel drugs across major countries in different regions. Further, the growing awareness about diabetic neuropathy, increased healthcare spending and increase in pharmaceutical R&D spending will be important factors for growth in the diabetic neuropathy market.