Global Diabetic Neuropathy Treatment Market is valued approximately USD 4.03 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.72% over the forecast period 2024-2032. Diabetic neuropathy treatment encompasses a range of strategies aimed at managing the symptoms and complications associated with nerve damage caused by diabetes. These treatments focus on alleviating pain, improving nerve function, and preventing further damage. Common approaches to diabetic neuropathy treatment include medication therapy, lifestyle modifications, and alternative therapies. The Diabetic Neuropathy Treatment market is expanding because of factors such as rising prevalence of diabetes, rising geriatric population and increasing healthcare expenditure across worldwide.

The rising prevalence of diabetes worldwide is a significant driver of the diabetic neuropathy treatment market. As the number of individuals with diabetes continues to grow, so does the incidence of diabetic neuropathy, creating a larger patient pool in need of treatment. As per data from the International Diabetes Federation, the year 2022 witnessed approximately 537 million adults aged 20 to 79 affected by diabetes, translating to 1 in 10 individuals globally. Projections indicate a steady increase, with an estimated rise to 643 million by 2030 and further escalation to 783 million by 2045. In addition, rising research and development activities to discover new drugs and therapies and growing focus on patient-centric care are creating new opportunities to the market growth. However, lack of awareness and education and side effects of medications stifles market growth throughout the forecast period of 2024-2032.

The key regions considered for the Global Diabetic Neuropathy Treatment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the the region's sophisticated healthcare infrastructure and substantial healthcare expenditure, fostering an environment conducive to the uptake of advanced treatments for diabetic neuropathy. Leading industry players such as Abbott, Pfizer Inc., Eli Lilly, and Johnson & Johnson have established operational footholds in this region, further fueling market expansion. Additionally, the imminent completion of Neuralace Medical's Painful Diabetic Neuropathy (PDN) label expansion study, coupled with the potential FDA clearance for its non-invasive treatment, stands poised to revolutionize the diabetic neuropathy market landscape in North America. Europe is expected to grow at a fastest rate during the forecast period, owing to factors such as positive reinforcement due to escalating government funding directed towards enhancing healthcare infrastructure and supporting research initiatives. Notably, nonprofit organizations like the Central European Diabetes Association (CEDA) engage in collaborative efforts with pharmaceutical companies to drive the development of innovative products, further contributing to market growth.

Major market player included in this report are:
Pfizer Inc.
Eli Lilly and Company
Johnson & Johnson
Abbott Laboratories
Novo Nordisk A/S
Astellas Pharma Inc.
GlaxoSmithKline plc
Merck & Co., Inc.
Teva Pharmaceutical Industries Ltd.
Boehringer Ingelheim International GmbH
Recent Developments in the Market:
In December 2023, Vertex Pharmaceuticals achieved FDA approval for its CRISPR-based gene editing therapy, marking a strategic milestone in its focus on advancing non-opioid pain management drugs. Leveraging the promising results from Vertex's phase 2 clinical trial of VX-548, this emphasis on alternative pain relief methods reflects the growing demand for safer and more efficient treatments for diabetic peripheral neuropathy. By addressing this critical need for innovative solutions, Vertex Pharmaceuticals secures a competitive advantage in the market.
In July 2023, Asprius Lifesciences, an Indian pharmaceutical company, unveiled a new treatment for Diabetic Neuropathy, a condition characterized by nerve damage in peripheral body areas. Notably, the company has filed a patent for a Fixed-Dose Combination (FDC), showcasing potential in tackling peripheral neuropathy. This significant development positions Asprius as a formidable contender in the global market, meeting the widespread demand for effective solutions.
Global Diabetic Neuropathy Treatment Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2024-2032
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Disorder Type, Drug Class, Distribution Channel, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Disorder Type:
Peripheral Neuropathy
Autonomic Neuropathy
Proximal Neuropathy
Focal Neuropathy
By Drug Class:
Capsaicin
Opioid
Non-Steroidal Anti-inflammatory Drugs (NSAIDs)
Antidepressants
Others
By Distribution Channel:
Hospitals Pharmacies
Retail Pharmacies
Other
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa