USD 5.1 billion
Global Paresthesia Treatment Market Size, Share, Growth Analysis, By Treatment Type(Medication and medical devices, Immunosuppressant), By Distribution Channels(Hospitals, Clinics), By Disease Type(Acute paresthesia, and Chronic paresthesia) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2802 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
93 |
Figures:
66
Global Paresthesia Treatment Market Insights
Global Paresthesia Treatment Market size was valued at USD 5.1 billion in 2022 and is poised to grow from USD 5.28 billion in 2023 to USD 7.01 billion by 2031, growing at a CAGR of 3.6% in the forecast period (2024-2031).
Paresthesia is a medical condition marked by sensations such as burning, tingling, numbness, or prickling, predominantly affecting diverse body parts such as the hands, feet, arms, or legs. The condition commonly arises due to nerve damage or compression, disrupting the normal transmission of signals, or from inconsistent blood flow to and from the brain. Paresthesia serves as a symptom indicative of various underlying medical conditions, encompassing both type 1 and type 2 diabetes, deficiencies in essential vitamins, neurological disorders, and conditions like carpal tunnel syndrome.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Acute
Growth Rate
3.6% CAGR
Global Paresthesia Treatment Market ($ Bn)
Country Share for North America Region (%)
Global Paresthesia Treatment Market By Disease (%)
To get more reports on the above market click here to Buy The Report
Global Paresthesia Treatment Market Segmental Analysis
The paresthesia treatment market is segmented based on treatment type, which includes medication and medical devices, immunosuppressant, anticonvulsants, topical creams, antivirals and others. The paresthesia treatment market is segmented based on distribution channels such as hospitals, clinics, home care, and others. The paresthesia treatment market is segmented based on the disease type, including acute paresthesia and chronic paresthesia. The paresthesia treatment market is segmented based on regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Analysis by Disease
The chronic affective segment is expected to command a significant share of the market during the forecast period, driven by the increasing prevalence of chronic affective disorders and a wide range of targeted therapies. The demand for targeted pharmacological therapies in the treatment of cognitive disorders has been encouraged.
The acute emotional distress segment plays an important role in the growth of the global paresthesia treatment market. Although more attention is often paid to chronic emotions, the acute emotional component is equally important in dealing with nausea, vomiting, burning sensation or immediate emotional stress. This section is especially important in cases where patients experience a sudden onset of numbness due to factors such as nerve strain, trauma, or certain medical conditions related to the procedure.
Analysis by Treatment
The antiviral segment is expected to exhibit the fastest market growth, projected at 4.5% during the forecast period by 2022. This rapid growth can be attributed to several key factors. Increased attention to studying the use of antioxidants in the treatment of allergic disease has stimulated research programs, shedding light on potential benefits in sensory dysfunction preventing efficiency.
Topical cream segment emerged as the primary revenue contributor in the global paresthesia treatment market, this trend is expected to last over forecast period. This dominance can be attributed to the increasing number of patients undergoing anesthesia, for whom topical creams provide convenience and are aimed at alleviating symptoms .
Global Paresthesia Treatment Market By Disease, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Paresthesia Treatment Market Regional Insights
North America stands as the largest global paresthesia treatment market, with numerous chronic pain conditions prevalent in the region and well-established healthcare infrastructure, characteristically, with advanced medical facilities and skilled healthcare professionals, positions it at the forefront of the paresthesia treatment landscape.
Asia-Pacific is emerging as the fastest growing global paresthesia treatment market, with patient volume combined with increasing awareness among patients driving the Region’s rapid growth and sheer increase in patient volume of Asia-Pacific has contributed significantly to the expansion of the market in the region.
Global Paresthesia Treatment Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Paresthesia Treatment Market Dynamics
Drivers
Increasing Incidences of Chronic Illnesses
- The prevalence of chronic conditions such as diabetes, neuropathy, and autoimmune disorders has been on the rise, leading to a corresponding increase in the occurrence of paresthesia—a condition characterized by abnormal sensations such as tingling and numbness. Paresthesia commonly serves as a symptomatic manifestation of underlying medical issues, creating a heightened demand for effective treatment and management approaches. As the number of individuals receiving anesthesia increases, health care providers are faced with the need to address this expanding group of patients seeking relief from anesthesia-associated complications.
Restraints
Possible Adverse Effects Associated with any Particular Treatment
- Some patients may experience adverse reactions, discomfort, or complications from interventions such as nerve stimulation or chemotherapy. These potential side effects may impede widespread acceptance of these therapies, as safety and tolerability concerns may deter patients and physicians. The challenge lies in how individual responses to treatments vary, somewhere which health professionals must carefully consider and tailor interventions for each patient and which mindfulness is important.
Request Free Customization of this report to help us to meet your business objectives.
Global Paresthesia Treatment Market Competitive Landscape
The competitive environment of the global Paresthesia Treatment market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor.
Top Player’s Company Profiles
- Boston Scientific Corporation
- EnteroMedics Inc.
- Baxter
- Bio-Medical Research Ltd.
- GlaxoSmithKline plc
- St. Jude Medical LLC
- Nevro Corp.
- Cyberonics Inc.
- Stimwave LLC
- Omron Healthcare Inc.
Recent Developments
- In 2021, Medtronic emerged as a major player in the market, offering medical devices specifically designed to manage chronic pain and allergies. The company played a key role in offering alternative solutions including spinal stimulation and peripheral nerve stimulation. Designed to prevent chronic pain and manage anesthesia, these medical devices contribute significantly to overall improvements in treatment and Medtronic's attention to detail has cutting-edge technology and production and delivery underscore its commitment to chronic pain and its associated disorders. With its leading role in the anesthesia market in 2021, Medtronic will play a key role in developing treatment options for individuals experiencing chronic pain and suffering.
Global Paresthesia Treatment Key Market Trends
- The increasing incidence of neurological disorders such as multiple sclerosis, diabetic neuropathy, carpal tunnel syndrome etc. is a major factor driving the increasing demand for anesthetics. This demographic shift is poised to be a key driver for market growth over the forecast period owing to an aging population susceptible to stroke and other neurological diseases. Advances in pharmaceuticals devices, such as transcutaneous electrical stimulation (TENS) devices and ultrasound devices.
Global Paresthesia Treatment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The biggest barrier to accessing the market is the high cost associated with pharmaceuticals and medical devices, especially high costs such as transcutaneous electrical nerve stimulation (TENS), which can run into thousands of dollars. The prevalence of side effects further restricts their widespread use.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.1 billion |
| Market size value in 2031 | USD 7.01 billion |
| Growth Rate | 3.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Paresthesia Treatment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Paresthesia Treatment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Paresthesia Treatment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Paresthesia Treatment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Paresthesia Treatment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Paresthesia Treatment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Paresthesia Treatment Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
