The global diabetic neuropathy market is categorized based on medication, radiotherapy, and physiotherapy. Based on medication, the report covers antispasmodic, antidepressant, and others. Based on radiotherapy, the market comprises transcutaneous electrical nerve stimulation (TENS).
North America has the largest market for diabetic neuropathy, followed by Europe. This is due to the increasing number of patients with diabetes, rise in research and development activities, increasing awareness among people about diabetes and related complications, and improved healthcare infrastructure in the region. The diabetic neuropathy market in Asia is expected to experience high growth rate in the next few years. This is due to rising R&D activities for drug discovery and development, increasing government supports in the form of funding, growing awareness about diabetic neuropathy, and developing healthcare infrastructure in the region. In addition, growing demographics and economies in the developing countries such as India, China, and Japan are expected to lead growth in the diabetic neuropathy market in Asia.
Increasing prevalence of diabetes cases, growing, aging population, rise in healthcare expenditure for diabetes, growing awareness about diabetes and related nerve complications, and rise in R&D activities in drug discovery and developmemt are the key factors driving the global diabetic neuropathy market. However, high failure rate in clinical trials, stringent regulatory requirements, and longer approval time for drugs are some of the factors restraining the growth for global diabetic neuropathy market.
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Increasing number of mergers and acquisitions, rapid product launches, and rise in number of collaborations and partnerships are some of the latest trends that have been observed in the global diabetic neuropathy market.
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