Latin America Diabetic Neuropathy Market

Latin America Diabetic Neuropathy Market Size (2022 to 2027)

The Latin America diabetic neuropathy market size is estimated to reach USD 0.58 billion by 2027. In 2022, the market was sized at USD 0.36 billion, at a CAGR of 10.13% during 2022 - 2027.

Diabetic neuropathy is a nervous disorder associated with diabetes mellitus. Neuropathy is a common complication of type 1 and types two diabetes. 

The rising incidence and prevalence of diabetes and the rising comorbidities associated with diabetes, such as blindness and nerve damage, are driving the Latin American diabetic neuropathy market. 

Also, an expanding geriatric population, sedentary lifestyles, urbanization connected to changes in eating habits, genetic composition, and rising incidence of chronic diseases like obesity and cardiovascular disease are the other factors that promote the diabetic neuropathy market's growth in the region. Daily tasks may be complex due to the constant pain associated with diabetic neuropathy. Patients with neuropathy have had the highest prevalence of the condition for more than 25 years. As a result, there has been an upsurge in treating diabetes, with major pharmaceutical companies investing heavily in novel diabetic drugs. The Latin America diabetic neuropathy market has grown in size due to an increase in the incidence of diabetic neuropathy.

However, The high costs of neuropathy therapy are expected to hamper the growth of the Latin America diabetic neuropathy market. In addition, the high clinical trial failure rates and stringent government restrictions for product approval are expected to limit the market growth. 

In addition, the high clinical trial failure rates and severe government regulations for product authorization. The high costs of neuropathy therapy are expected to hamper the growth of the diabetic neuropathy market. 

In terms of pain alleviation, drugs used to treat neuropathic pain have had mixed results. A hurdle to the diabetic neuropathy market is the incorrect diagnosis or therapy selection, side effects, and the rising cost of medications to treat diabetic neuropathy.

This research report on the Latin American diabetic neuropathy market has been segmented and sub-segmented into the following categories:

By Disorder:

• Peripheral Neuropathy

• Autonomic Neuropathy

• Proximal Neuropathy

• Focal Neuropathy

By Treatment:

• Drugs

  • Analgesic

    • Topical

      • Capsaicin

      • Others

    • Opioid:

      • Morphine

      • Others

    • NSAIDs

      • Ibuprofen

      • Naproxen

      • Others

  • Antidepressants:

    • TCAs

      • Amitriptyline

      • Imipramine

      • Others

    • SNRIs

      • Duloxetine

      • Others

    • SSRIs

      • Citalopram

      • Paroxetine

      • Others

  • Anticonvulsant Drugs

    • Gabapentin

    • Pregabalin

    • Topiramate

    • Others

    • Other Drugs

• Radiotherapy

  • Transcutaneous Electrical Nerve Stimulation (TENS)

  • Others

  • Physiotherapy

By Distribution Channel:

• Hospitals

• Clinics

• Retail Pharmacy

• Online Pharmacy

By Country:

• Brazil

• Argentina

• Chile

• Mexico

• Rest of Latin America

Latin America is anticipated to account for a moderate share of the Diabetic neuropathy market. Latin America is expected to grow at a compound annual growth rate of 5.7 percent (CAGR). In terms of size, the diabetic neuropathy market in Latin America has been primarily driven by the increasing incidence of diabetic neuropathy.

In the coming years, the Diabetic Neuropathy Market in Latin America is predicted to proliferate. In Latin America, the diabetic neuropathy market is driven by rising diabetes incidence and a growing senior population suffering from chronic disease. In addition, the regional market growth is attributed to the increase in research and development activities on treating diabetes or its related complications and the development of health infrastructure in the region. Also, the rising number of patients and diabetics, increasing awareness, and growing disposable income of the region is fueling the market growth. Furthermore, the rising number of diabetes patients in emerging countries like Brazil, Mexico, and Argentina will likely boost the Latin America Diabetic Neuropathy Market.

Brazil and Mexico are anticipated to account for a significant share of the diabetic neuropathy market. More than 60% of people with diabetes live in Brazil, with Mexico and Argentina accounting for more than half. In addition, due to increased healthcare awareness programs and a significant number of patients, hospitals equipped with X-ray machines to treat diabetic neuropathies are becoming more widespread.

KEY MARKET PLAYERS:

Johnson & Johnson (Janssen Global Services, LLC), Boehringer Ingelheim GmbH, NeuroMetrix, Inc., Eli Lilly and Company, GlaxoSmithKline plc, Lupin Limited, Pfizer Inc., Astellas Pharma Inc., Glenmark Pharmaceuticals Ltd., Arbor Pharmaceuticals, LLC and Depomed, Inc. are a few of the promising players in the Latin America diabetic neuropathy market.