LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global diabetic neuropathy drugs market since 2016 and the market is poised to grow by USD 866.72 million during 2019-2023, progressing at a CAGR of about 6% during the forecast period. Request Free Sample Pages
Read the 135-page research report with TOC on "Diabetic Neuropathy Drugs Market Analysis Report by Mechanism of action (calcium channel alpha-2-delta ligand, SNRIs and TCAs, and others), by Geography (Asia, Europe, North America, and ROW), and Segment Forecasts, 2019 - 2023."
The market is driven by the approval of new drugs and the presence of a strong drug pipeline. In addition, the development of novel biologics to treat diabetic neuropathy is anticipated to further boost the growth of the diabetic neuropathy drugs market.
Market vendors are increasingly focusing on the development of disease-modifying drugs to treat diabetic neuropathy due to its growing prevalence. The market is witnessing an increase in the number of approvals of drugs such as LYRICA CR extended-release tablets. These drugs are used to manage neuropathic pain associated with diabetic peripheral neuropathy. In addition, there are several drugs that are in the last-stages of the pipeline. VM202 is an investigational therapy that is currently in Phase III clinical trials. Thus, approval of such new drugs and the presence of a strong drug pipeline is expected to drive market growth during the forecast period.
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Major Five Diabetic Neuropathy Drugs Market Companies:
Pfizer Inc. is headquartered in the US and owns and operates businesses under various segments such as innovative health and essential health. The company offers LYRICA and NEURONTIN. LYRICA is used to treat diabetic nerve pain.
Novartis AG is headquartered in Switzerland and manufactures products through several business segments such as innovative medicines, sandoz, and alcon. The company offers Tegretol, which is an anticonvulsant medication used in the treatment of neuropathic pain.
Johnson & Johnson Services, Inc.
Johnson & Johnson Services, Inc. is headquartered in the US and has business operations under various segments, namely pharmaceutical, medical devices, and consumer. The company offers NUCYNTA, which is an opioid analgesic used to treat diabetic neuropathy pain.
Eli Lilly and Company
Eli Lilly and Company is headquartered in the US and offers products through business segments such as human pharmaceutical products and animal health products. The company offers CYMBALTA, which is used to treat neuropathic pain.
DAIICHI SANKYO COMPANY, LIMITED
DAIICHI SANKYO COMPANY, LIMITED is headquartered in Japan and offers products through business segments such as innovative pharmaceuticals business and generic business. The company offers Tarlige, which is used to treat peripheral neuropathic pain.
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Diabetic Neuropathy Drugs Mechanism of Action Outlook (Revenue, USD Million, 2019 - 2023)
- Calcium channel alpha-2 delta ligand
- SNRIs and TCAs
Diabetic Neuropathy Drugs Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
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