Diabetic Neuropathy Market: Approval of Novel Drugs to Push Revenue Growth Forecast 2020 to 2025

The approval of novel drugs for the treatment of diabetic neuropathic pain has led to a major uptick in the diabetic Neuropathy market. In 2015, the FDA approved Nucynta ER for the treatment of neuropathic pain caused by diabetes. Another drug, Lyrica, has also been approved for neuropathic pain treatment in 130 countries. On the back of these trends, the global diabetic neuropathy is anticipated to grow at a CAGR of 5.6% during the forecast period (2020-2025).

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The recent COVID-19 pandemic is not anticipated to limit production of novel drugs or supplies of insulin to hospitals or pharmacies, attributed to increased functional capacity of manufacturing plants of leading players across the world. However, delays in processing orders may be anticipated.

Peripheral & Proximal Neuropathy to Register Major Usage of Diabetic Neuropathy Formulations

The peripheral neuropathy disorder segment is projected to find increased usage of diabetic neuropathy formulations. The scope for peripheral neuropathy drugs is poised to increase, as the treatment for peripheral neuropathy is currently confined on managing pain rather than regeneration of nerves. Moreover, under diagnoses of peripheral neuropathic patients will broaden prospects of these drugs. Projections indicate a positive CAGR of 5.9% and a market share greater than half.

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However, proximal neuropathy disorders are anticipated to find substantial applications of diabetic neuropathy formulations. Proximal neuropathy is the most common disorder among type 2 diabetics. An increase in the patient pool suffering from proximal neuropathy is thus anticipated to drive diabetic neuropathy drugs and formulations for the disorder, capturing a market share of nearly one-fourth and expanding at a CAGR of 5.6% through 2025.

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The Diabetic Neuropathy market report answers important questions which include:

• What does the status of the Diabetic Neuropathy market look like after the forecast period?
• Which region has the highest contribution to the global Diabetic Neuropathy market and why?
• Which players remain at the top of the global Diabetic Neuropathy market?
• What opportunities are available for the Diabetic Neuropathy market players to expand their production footprint?
• Which segment has the maximum impact on the global Diabetic Neuropathy market?

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