NEW YORK, April 22, 2019 /PRNewswire/ -- About this market
The rising awareness about diabetic neuropathy is one of the prominent factors likely to contribute to the diabetic neuropathy drugs market growth in the forthcoming years. Several awareness programs are being launched among the consumers with an aim to educate and train diabetes educators in the emerging and advanced economies. Different campaigns are encouraging people to take an online test for knowing about the risk factors associated with prediabetes, in turn, driving the diabetic neuropathy drugs market growth during the forecast period. Analysts have predicted that the diabetic neuropathy drugs market will register a CAGR of about 6% by 2023.
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Market Overview
New drug approvals and strong drug pipeline
One of the growth drivers of the global diabetic neuropathy drugs market is new drug approvals and strong drug pipeline. With the rising prevalence of diabetic neuropathy, several market players are focusing on the development of disease-modifying drugs to treat the disease.
Side-effects of major drugs
One of the challenges in the growth of the global diabetic neuropathy drugs market is the side-effects of major drugs. Side-effects associated with approved drugs such as pregabalin (LYRICA) and gabapentin (NEURONTIN) can lead to low patient compliance, thereby hindering the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the diabetic neuropathy drugs market during 019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. Vendors in the market are focusing on the development of novel biologics to treat diabetic neuropathy. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
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