U.S. DIABETIC NEUROPATHY MARKET ANALYSIS

Market Challenges And Opportunities

U.S. Diabetic Neuropathy Market - Driver

Increasing inorganic strategies such as product approval from regulatory authorities such as the U.S. Food and Drug Administration is expected to boost the growth of the U.S. diabetic neuropathy market. For instance, in December 2019, Averitas Pharma, Inc., a pharmaceutical company, announced that they had received approval from U.S. Food and Drug Administration for QUTENZA, the treatment of neuropathic pain associated with diabetic peripheral neuropathy of the feet in adults. QUTENZA is the first and only topical, non-systemic, non-opioid pain treatment for diabetic peripheral neuropathy. A single local topical treatment with QUTENZA may provide up to 3 months of relief from the nerve pain.

U.S. Diabetic Neuropathy Market: Restraint

High cost treatment of diabetic neuropathy in the U.S. is expected to hamper the growth of the U.S. diabetic neuropathy market over the forecast period. For instance, in February 2020, according to the data published by National Center for Biotechnology Information, there is a significant increase in health care costs among a large number of patients with painful diabetic neuropathy (pDPN). The total median healthcare cost was US$ 16,795 in the first year after diagnosis and patients with painful diabetic neuropathy (pDPN) spent 3 times more as much on medications.