The global diabetic neuropathy management market size was estimated at USD 2.62 billion in 2023 and is expected to grow at a CAGR of 5.8% from 2024 to 2030. Major factors contributing to the market growth include the growing prevalence of diabetes, the rising geriatric population, technological advancements, increased in R&D activities, and the increase in number of product approvals. According to Centers for Disease Control and Prevention (CDC) statistics, approximately 11.6% of the U.S. population, or 38.4 million Americans, live with diabetes and are estimated that half of these individuals are likely to develop diabetic neuropathy at some point during their lifetime.

High prevalence of diabetes is the major factor driving the market growth. Diabetes, when left unmanaged, can lead to a range of serious complications, including peripheral neuropathy. According to the International Diabetes Federation (IDF), 537 million adults worldwide lived with diabetes in 2021, it further states that the number is expected to surge to 642 million by 2040. The prevalence of diabetes is increasing globally, with the most significant rises observed in low- and middle-income countries. The Western Pacific, South Asia, and Europe had the highest numbers of adults living with diabetes in 2021, at 167 million, 88 million, and 59 million respectively.

Gather more insights about the market drivers, restrains and growth of the Diabetic Neuropathy Management Market

Key Diabetic Neuropathy Management Company Insights

The major players in the diabetic neuropathy management market are actively enhancing their product portfolios through various strategies aimed at staying competitive and expanding their market share. This includes continuous product upgrades to incorporate the latest technological advancements, strategic collaborations, and exploring acquisition opportunities. Additionally, obtaining government approvals for their products is crucial to ensure compliance with regulatory standards.

Recent Developments

• In January 2024, The FDA approved Neuralace Medical’s Axon Therapy, a noninvasive treatment for painful diabetic neuropathy. This therapy uses magnetic peripheral nerve stimulation (mPNS) to alleviate chronic pain caused by nerve damage due to diabetes.

• In October 2023, Boston Scientific secured FDA approval for its WaveWriter Alpha spinal cord stimulation device to treat painful diabetic peripheral neuropathy (PDN), a common complication of diabetes that affects the legs and feet. This expanded indication enables Boston Scientific to enter the growing PDN market, which is expected to reach upto USD5 billion in value by Nevro's forecast, alongside competitors Abbott and Medtronic.

• In January 2023, NeuroMetrix launched DPNCheck 2.0, an enhanced point-of-care device for detecting peripheral neuropathy. Using nerve conduction technology, the device offers rapid, accurate, and quantitative testing, improving early detection and staging of neuropathy, including diabetic peripheral neuropathy. It features user-friendly design improvements like real-time nerve response display, a touchscreen interface, and better temperature compensation.

Global Diabetic Neuropathy Management Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global diabetic neuropathy management market report based on devices, application, end-use, and region:

Devices Outlook (Revenue, USD Million, 2018 - 2030)

• Electrical Stimulation Devices

• Neuro Stimulation Devices

• Nerve Conduction Testing Devices

• Other Devices

Application Outlook (Revenue, USD Million, 2018 - 2030)

• Peripheral Neuropathy

• Autonomic Neuropathy

• Proximal Neuropathy

• Mononeuropathy      

End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Home Healthcare

• Other End-use

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o UK

o Germany

o France

o Italy

o Spain

o Denmark

o Sweden

o Norway

• Asia Pacific

o Japan

o China

o India

o Australia

o Thailand

o South Korea

• Latin America

o Brazil

o Argentina

• Middle East & Africa

o South Africa

o Saudi Arabia

o UAE

o Kuwait

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