Diabetic neuropathy refers to damage of nerves affecting people with diabetes. Different types of nerve damage lead to different types of symptoms. Symptoms might range from numbness and pain in one’s feet to issues with the daily functions of one’s internal organs, such as bladder and heart.
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Symptoms vary according to the type of diabetic neuropathy one has. In diabetes patients, high level of blood glucose, also otherwise known as blood sugar, together with high levels of fats in the blood can damage one’s nerves with time. Increased prevalence of diabetes is likely to propel growth of the diabetic neuropathy market over the period of review.
Johnson & Johnson Services, Inc., Glenmark Pharmaceuticals Ltd, Boehringer Ingelheim GmbH, GlaxoSmithKline plc, Arbor Pharmaceuticals, LLC, and Lupin Limited are some of the prominent players profiled in the report on the global diabetic neuropathy market.
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A report on the global diabetic neuropathy market by Transparency Market Research (TMR) foretells that the market is likely to observe a growth rate of 5.4% CAGR during the projection tenure, from 2017 to 2025. This comprehensive report on the global diabetic neuropathy market is estimated to touch market valuation of US$ 5.718 bn by the end of assessment tenure.
Asia Pacific to Witness Rapid Growth due to Rise in Aging Population
Europe and North America are likely to come up as a prominent regions in the global diabetic neuropathy market. Growth of the market in the North America region is mainly due to presence of large pool of patients affected with diabetes.
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On the other hand, Asia Pacific is likely to come up another highly promising region in the global diabetic neuropathy market. This growth of the region is ascribed to the better understanding of diabetic complications and considerable clinical developments. In the recent years, Asia Pacific has witnessed a rise in the number of patients suffering from diabetic neuropathy. Rise in incidences of diabetic neuropathy is mainly due to bad posture induced by change in lifestyle, genetic predisposition, and aging. These factors are driving the diabetic neuropathy market in Asia Pacific.
Increased Awareness about Advanced Treatment Methods to Influence the Market
One of the important factors that are estimated to shape the future of the global diabetic neuropathy market is the rise in the number aging people who are prone to suffer from the said medical condition. Furthermore, rise in the research and development activities for the development of new drugs to help treat the disorder of diabetic neuropathy is likely to encourage growth of the market over the period of projection.
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The global diabetic neuropathy market is estimated to be mainly influenced by the rapid rise in the prevalence of diabetic neuropathy across the globe. In addition to that, growing awareness about high-end procedures of treatment for diabetic neuropathy is another factor boosting expansion of the global diabetic neuropathy in the coming years. Introduction of novel medications to regulate the symptoms of chronic diabetic neuropathy is estimated to propel the expansion of the global diabetic neuropathy market.
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