A report from Transparency Market Research, titled 'Diabetic Neuropathy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019,' states that the market is predicted to expand rapidly during the period between 2013 and 2019 due to an alarming increase in the number of people suffering from diabetes worldwide.
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Diabetic neuropathy is classified as a neurological disorder, which is associated with diabetes mellitus. This disorder affects all peripheral nerves such as the autonomic nervous system, motor neurons, and pain fibers. As per the World Health Organization (WHO), around 350 million people from across the globe suffer from diabetes and around 80% of them live in middle- and low-income countries. Further, diabetic neuropathy affects around 50% of the worldwide diabetic people.
Diabetes, thus still remains a major issue in the global healthcare sector. Even though symptoms of this disorder differ as per the nerves affected, some of the common symptoms are erectile dysfunction, abnormal sensations in many body parts, dizziness, intense pain, loss of control over the bladder, muscle weakness, speech impairment, and others. Diabetic neuropathy can be treated and controlled by therapeutic treatments. Some of the common therapies, which can be used to treat diabetic neuropathy are drugs, radiotherapy, and physiotherapy.
Transcutaneous electric nerve stimulation (TENS) is one of the popular radiotherapies used to treat diabetic neuropathy. Most therapies are directed at controlling diabetes itself or towards the symptoms of the disorder. With advancements in technology, various wearable devices have assisted in treating neuropathic pain. Such devices use controlled electric currents so as to block the spread of pain signals. The treatment has minimal side effects and is noninvasive. The global diabetic neuropathy market, by region, is divided into Europe, Asia Pacific, North America, and the Rest of the World. Currently, North America is the largest global market for diabetic neuropathy owing to the highly advanced medical services available here. Europe is the second-largest market in the global diabetic neuropathy market, followed by Asia Pacific.
Leading players such as Pfizer, Eli Lilly, Johnson & Johnson, and Glaxo Smith Kline Pharmaceuticals Ltd. are predicted to maintain their dominance in the global diabetic neuropathy market. With the introduction of new drugs and treatments by leading players, the global diabetic neuropathy market is expected to be highly competitive in the years to come. Going forward, partnerships and acquisitions are expected to benefit leading players to maintain their dominance in the global diabetic neuropathy market.
In the foreseeable future, leading players are expected to focus on the introduction of effective treatments to treat diabetic neuropathy. The entry of new companies is predicted to make the global market for diabetic neuropathy highly competitive. Some of the commonly prescribed drugs to treat diabetic neuropathy are Carbatrol, Pamelor, Carbatrol, Cymbalta, antispasmodics, antidepressants, and Detail2.
Over the past few years, there have been advancements in the global healthcare sector. With many new medical devices and treatments being introduced, treating any illness has been simplified. This has also helped the growth of the global diabetic neuropathy market.
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