"Painful Diabetic Neuropathy Drugs Market to Experience Lucrative Growth with Presence of Strong Drug Pipeline Portfolio"

Global painful diabetic neuropathy (PDN) drugs market accounted to US$ 4,811.8 Mn in 2017 and expected to attain US$ 8,962.0 by 2026 growing at a CAGR of 6.6% during the forecast period from 2018 to 2026. Of the various marketed drugs analyzed, Lyrica accounted for maximum market share in 2017 while Qutenza will exhibit fastest CAGR during the forecast period from 2018 to 2026. Lyrica and Cymbalta are the only recommended first line of therapy for PDN thus depicting dominance throughout the study period from 2016 to 2026. Along with the aforementioned products, Nucynta/Palexia are also approved for the treatment of PDN thus contributing to the overall market. Along with the availability of approved drugs, the rising prevalence of diabetes and growing awareness of diabetic complications will further catalyze the market growth.

The PDN drugs market comprises an extensive drug pipeline portfolio with prime focus on developing target-based therapy, reducing disease progression. VM202 (ViroMed Co. Ltd.) and Mirogabalin Besylate (Daiichi-Sankyo Company Ltd.) are potential pipeline molecules in Phase III whose positive results will ensure lucrativeness to the PDN drugs market during the forecast period. This market provides multiple opportunities to new entrants with disease modifying molecules thus increasing the investment among market players in research activities.

PDN drugs market encompasses a vast market outreach across various geographies owing to the rising prevalence of diabetes and diabetes associated complications. North America accounted for maximum market share in 2017 while Asia Pacific exhibited fastest CAGR during the forecast period from 2018 to 2026. The rise in diabetes prevalence, awareness on PDN and the available medications and presence of developed healthcare infrastructure backs the North America market growth.

"Lyrica Gained Maximum Market Share and will Continue with Similar Trends during the Forecast Period"

Based on drug type, Lyrica accounted for highest market share of above 26% in 2017 and will continue its dominance throughout the forecast period from 2018 to 2026. Lyrica is the only marketed drug that has gained marketing approval from Food and Drug Administration (FDA) of U.S., European Medical Agency (EMA) and Pharmaceutical & Medical Device Agency (PMDA) of Japan. Lyrica is also recommended as the first line of therapy by America Diabetes Association to treat PDN. These factors make Lyrica a dominant contributor to the overall growth of the market. Additionally, recent approval of Lyrica CR (October 2017) by U.S FDA ensures remunerative growth of this market segment. Qutenza accounts for fastest CAGR during the forecast period from 2018 to 2026. Qutenza is approved so far only in Europe; further marketing approval across geographies and its formulation as an adhesive patch would increase the demand for the same upon approval. Qutenza comprises minimal patient discomfort when compared to the daily dosing therapeutic agents thus projected to gain market attraction. However, the market share of existing approved products could be hampered by the penetration of pipeline molecules with target-based therapy.

"North America Demonstrated Supremacy in 2017 and will Maintain its Dominancy Through 2026"

North America accounted for major market share of more than 55% in 2017 and projected to continue the trend throughout the forecast period. Increased prevalence of diabetes and diabetes-associated complications primarily drive the market growth in this region. Rapid commercialization of novel drugs and the continuous investment by local manufacturers in developing target-based therapy further catalyzes the market growth. According to the Centers for Disease Control and Prevention (CDC), around 30.3 million individuals of all ages suffered from diabetes in 2015 in the U.S. This high prevalence of diabetes further increases the risk for painful diabetic neuropathy thus indicating potential market growth. Asia Pacific will exhibit fastest CAGR during the forecast period from 2018 to 2026. Growing awareness on diabetes-associated complications, availability of newer products and investment by international players contributes to the growth in this region.

"Presence of an Extensive Pipeline Portfolio Indicates Penetration of New Industrial Leaders during the Forecast Period"

Painful diabetic neuropathy drugs market observes a competitive pool comprising, off-label drug manufacturers, PDN approved drug manufacturers and new market entrants with promising pipeline portfolio. Pfizer, Inc. maintained supremacy in 2017 owing to its product Lyrica, recommended as the first line of therapy and accounted for maximum market share in 2017. Other industrial players namely, Grunenthal GmbH and Collegium Pharmaceutical, Inc. also contributed to the overall growth of this market. However, the approved drugs provide a reduction in the pain and do not cure the underlying cause. This market thus witnesses an elaborative pipeline portfolio, with multiple market players carrying out research activities in developing target based drug or gene therapy. ViroMed’s VM202 currently in Phase III has exhibited positive results in providing long-term relief and modification in PDN progression. It’s potential efficacy and reduced adverse effect makes it a potential candidate catalyzing the market growth and would be a threat to the existing market players upon market penetration during the forecast period.

Historical & Forecast Period

This study report provides analysis for each segment during the period from 2016 to 2026, keeping 2017 as the base year. The CAGR for each segments are also estimated for the forecast period from 2018 to 2026.

Report Scope by Segments

Painful diabetic neuropathy drugs market report comprises an extensive analysis on the market trends and dynamics along with qualitative analysis of the global market. The report provides in depth analysis of global painful diabetic neuropathy drugs market by segmenting the market based on drug type and geography. The prime objective to publish this study is to guide healthcare professionals and market leaders in decision-making and strategic initiatives in painful diabetic neuropathy drugs market.

The current study report also comprises qualitative information pertaining to key market trends with respect to market drivers, restraints and opportunities that would guide in thorough understanding of the overall painful diabetic neuropathy drugs market scenario. Furthermore, a graphical representation on the competitive landscape depicting market positioning of key industrial players based on their product offerings and business strength has been incorporated within this report. Key market leaders profiled in this report are Pfizer, Inc., Grunenthal GmbH, Daiichi-Sankyo Company Limited, ViroMed Co. Ltd., Collegium Pharmaceutical, Inc., Eli Lilly and Company, Acorda Therapeutics, Inc., Zydus Pharmaceuticals USA, Inc., Mallinckrodt, Inc. and Macleods Pharmaceuticals Ltd.

Key questions answered in this report

• What are the market trends in the painful diabetic neuropathy drugs market and valuable opportunities for market leaders?
• Which was the most successful drug that contributed maximum to market growth and what was its market share in 2017?
• Which drug would attain fastest CAGR during the forecast period from 2018 to 2026?
• Which drugs under pipeline could facilitate the market growth in the future?
• Which region encompassed maximum market share in 2017?
• Which region would gain maximum CAGR during the forecast period?
• What is the market trend and dynamics in emerging markets such as Japan, Latin America and Middle East & Africa?
• Which industry player enjoyed supremacy in 2017?
• What are the potential growth opportunities for new market entrants?