Diabetic Neuropathy Market Opportunities Future Guidelines Value Chain Forecast To 2028
About 60 to 70 percent of people with diabetes have some form of neuropathy developed over a period of time. Diabetic neuropathy is a serious and common complication of type 1 and type 2 diabetes. It is a type of nerve damage caused by uncontrolled high blood sugar levels. Diabetic neuropathy is characterized by distribution of sensory and motor symptoms and signs. The symptoms of diabetic neuropathy are wide-ranging which depend on the form of neuropathy present, and due to which nerves are being affected. Common symptoms of neuropathy include, numbness, tingling and pain. Diabetic neuropathy occurs in people who have problems related to blood glucose levels, high levels of cholesterol and high blood pressure, in overweight people, and in people over the age of 40.
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Increasing incidence and prevalence of diabetes and growing complication associated with diabetes such as blindness, nerve damage, increase in geriatric population, sedentary lifestyle, urbanization associated with changes in eating habits, genetic composition, increasing incidence of chronic disease such as obesity, cardiovascular disease etc. are factors expected to boost growth of the global diabetic neuropathy market. High cost associated with the treatment of neuropathy is expected to hinder growth of this market.
The global diabetic neuropathy market is segmented on the basis of disorder type, treatment, and region. On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is expected to account for major share in the global market in terms of revenue, owing to increasing number of diabetic patients. In 2017, nearly 20 million people are affected by diabetic neuropathy in US. The market in Asia Pacific is expected to witness fastest growth in terms of revenue, owing to increasing number of geriatric and obese population. As per statistics of the Asian Development Bank, individuals above the age of 60 years in Asia is projected to touch 923 million by 2050, and are prone to diabetes.
Prominent players operating in the global diabetic neuropathy market include Pfizer Inc., Eli Lilly and Company, Actavis Pharma, Inc., Cephalon, Inc., Meda Pharma GmbH, GlaxoSmithKline plc, NeuroMetrix, Inc., Johnson & Johnson Inc., Boehringer Ingelheim GmbH, and Astellas Pharma Inc.
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