Diabetic Neuropathy Market Trends

Growth Drivers

• Rising Improper Diet in People with Increasing Preference for Outdoor Food and Disposable Income – Consuming unhealthy foods such as sugary drinks, processed and fried foods leads to weight gain, obesity, and the development of chronic diseases. Also, eating an unhealthy diet leads to disorders including cardiovascular diseases, cancer, communicable and non-communicable diseases, and infections. All these elements are estimated to boost market growth. As per the data collected, obesity affected over 750 million adults across the world in 2020
• Rising Population Rates with Increasing Living Standards and Longevity – Increasing population is expected to increase the incidence of diabetic cases among the people, and it is expected to drive the market’s growth in the upcoming year. As per the reported data, the world population increased to 7.8 billion in 2021 up from 7.3 billion in 2015.
• Increasing Practice of a Sedentary Lifestyle that Leads to Weight Gain Issues - Approximately 3.2 million deaths and 32.1 million DALYs (representing about 2.1% of global DALYs) each year are caused by insufficient physical activity.
• Rising Awareness Regarding Diagnosis and Treatment Among People – It was observed that 1.5 million new diabetic cases were diagnosed in 2018 in the U.S.

Challenges

• High Cost of Treatment for Neuropathic Pain - The market's future is being hampered by the rising cost of the medications used to treat diabetic neuropathy market. The availability of alternate treatments, such as radiotherapy and physiotherapy, appears to be more convenient and results in better clinical outcomes for the patients. As per recent data, pharmacological therapy expenses each year and over the course are considered USD 13.80 for expert consultations and USD 10.50 for general practitioners.
• Undiagnosed Cases of Diabetes
• Lack of Access to People for Proper Medical Care