Pune, July 12, 2024 (GLOBE NEWSWIRE) -- The good news is that breakthroughs in medical technology and pharmaceutical research have led to great strides forward concerning novel treatments for diabetic neuropathy. Secondly, the National Institutes of Health (NIH) said some newer treatments are powerful enough to cut neuropathic pain in half. There is also a 30% increase in patient adherence to these advanced therapies over traditional treatments, the CDC adds.
By doing so, these advances not only increase the effectiveness of interventions but also contribute to better health outcomes for patients creating a probable market extension by 7.5% per year according to research from the U.S.
Dept of Health and Human Services. Further, rising government awareness campaigns related to diabetic neuropathy and its management such as the initiatives of the Centers for Disease Control (CDC) and National Institute of Health (NIH), contribute significantly towards market growth due to increasing demand from healthcare professionals & patients. These efforts have resulted in a 25% increase in early diagnosis and a 20% increase in timely intervention, the CDC said.
The increasing prevalence of type 1 & type 2 diabetes, the growing aging population, and the introduction of advanced medical therapies for treatment are expected to present this market with lucrative growth opportunities as a result of expanding at the CAGR over the forecast period suggested by HHS. Nonsteroidal maintained the largest market share in 2023 which is 39.45%.
NSAIDs are a conventional choice for diabetic neuropathy because they can control which is why they are prescribed as the first line of medication. NSAIDs work by targeting inflammation, and they block the synthesis of prostaglandins - compounds that help to manage pain sensation as well as inflammation. By decreasing inflammation and inhibiting the production of prostaglandins, NSAIDs help to relieve pain and discomfort in diabetic neuropathy.
One of the best things about NSAIDs is that they are readily found. Several NSAIDs can be obtained without a prescription, meaning they represent an accessible treatment to patients. This is especially useful for people with diabetic neuropathy who need continuous pain relief.
Moreover, affordability plays a crucial role in selecting NSAIDs as a cheaper option by most people ever considering their budget or absent proper health coverage. North America dominates (2023) with a market share of 38.01% in the diabetic neuropathy market.
North America has a well-developed healthcare system which includes advanced hospitals, clinics, and research centers. This presents a significant demand for treatments and medications around diagnosis, treatment, and management of diabetic neuropathy through enabling infrastructure used effectively. The prevalence of diabetes has been rising rapidly in the US and Canada as many people are leading sedentary lifestyles, consuming diets high in sugars like fructose corn syrup, and living to an older age.
This is mainly due to the higher prevalence of diabetes and the fact that it constitutes one of the common causes of diabetic neuropathy emergence, which acts as a contributory factor in churning out more inquiries regarding the needful treatment of diabetic neuropathies. The financial aid to help patients get proper and timely management for their health issues has led these regions to dominate the diabetic neuropathy treatment market share in North America. 1.
Introduction 2. Industry Flowchart 3. Research Methodology 4.
Market Dynamics 4.1 Drivers 4.2 Restraints 4.
3 Opportunities 4.4 Challenges 5. Porter’s 5 Forces Model 6.
Pest Analysis 7. Diabetic Neuropathy Market Segmentation, By Disorder 8. Diabetic Neuropathy Market Segmentation, By Drug Class 9.
Diabetic Neuropathy Market Segmentation, By Distribution Channel 10. Regional Analysis 11. Company Profiles 12.
Competitive Landscape 13. Use Case and Best Practices 14. Conclusion is one of the leading market research and consulting agencies that dominates the market research industry globally.
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