The Paresthesia Treatment Market size was valued at USD 5.50 Bn. in 2023 and the total Paresthesia Treatment Market Size is expected to grow at a CAGR of 3.7% from 2024 to 2030, reaching nearly USD 7.9 Bn. in 2030.Paresthesia Treatment Market Overview
Paresthesia is a medical condition, characterized by a burning, tingling, numbness, or prickling sensation in different parts of the body, such as the hands, feet, arms, or legs. The sensation, which occurs without warning, is usually painless and is explained as numbness or tingling, itching, or skin crawling. Chronic paresthesia is usually a symptom of traumatic nerve damage or a neurological disease. It’s caused by disorders concerning the central nervous system like transient ischemic attacks and strokes, transverse myelitis, multiple sclerosis, and encephalitis. 1. The Centre for Disease Control and Prevention (CDC) reports that 37.3 million Americans, or 11.3% of the US population, live with diabetes, and it is estimated that 50.0% of adults with diabetes resolve experience neuropathy during their lifetime. 2. The International Diabetes Federation estimates that 425 million people worldwide have diabetes1, making it the largest global epidemic of the 21st century2, 115 million people in China, 73 million in India and 30 million in the United States have diabetes3. The growth of the paresthesia treatment market is pushed by the rise in the prevalence of diseases like cancer, the lack of proper nutrients in food, and the surge in the geriatric population. The global paresthesia treatment industry is highly competitive, with several key players vying for market share. The players are focusing on research and development activities to introduce innovative treatment options for paresthesia.To know about the Research Methodology :- Request Free Sample Report
Paresthesia Treatment Market Dynamics:
Driving Factors and Growth Trends in the Paresthesia Therapy Market The increasing incidence of neurological disorders like multiple sclerosis, diabetic neuropathy, and carpal tunnel syndrome is driving the growth of the paresthesia therapy market. Carpal tunnel syndrome, resulting from compression or pinching of the median nerve, stands as the most common cause of paresthesia. Advancements in medical equipment such as transcutaneous electrical nerve stimulation (TENS) devices and ultrasound are driving the demand for paresthesia therapy. Growing knowledge of paresthesia and the availability of effective treatment options, as well as governments around the world investing in healthcare infrastructure and initiating awareness campaigns, are contributing to market growth. The rising number of cancers, diabetes, and arthritis cases has significantly increased the demand for paresthesia treatment.The development of advanced treatment options such as gene therapy and stem cell therapy is predicted to present new opportunities for the growth of the paresthesia treatment industry and the rising number of cancers, diabetes, and arthritis cases has significantly increased the demand for paresthesia treatment. Combining different treatment modalities is being explored to optimize outcomes for patients with complex or chronic paraesthesia. For instance, a combination of medication, and physical aspects of the condition simultaneously.
Emerging Treatment Modalities and Opportunities in Paresthesia Therapy
Challenges and Considerations in Diagnosing and Treating Paresthesia
Accurate diagnosis container be difficult, particularly when it is associated with underlying conditions that share similar symptoms. Lack of awareness or misdiagnosis results in treatment delays or ineffective management. There are several negative effects associated with the medications, including headache, weight gain, nausea, skin rashes, or diarrhoea. The symptoms are transient and minor. After taking antidepressants, some patients experience daytime sleepiness, in the regular schedule. Similarly, branded medications for treating neuropathic pain tend to be costly. In less developed areas of medication adoption within the neuropathic pain market, patients often opt for generic restraints of the paresthesia market.Paresthesia Treatment Market Segment Analysis:
Based on causes, Radiculopathy is commonly known as a pinched nerve. It is a condition where one or more nerves are affected and stop performing their functions. The condition leads to pain, weakness, numbness and difficulty in controlling certain muscles. Vertebral radiculopathy, cervical radiculopathy, Thoracic radiculopathy, and Lumbar radiculopathy are the types of Radiculopathy. The demand for vertebral radiculopathy market is increasing with the rise in the number of patients suffering from osteoporosis, slipped discs and osteoarthritis. Approximately 10 million Americans have osteoporosis and another 44 million have low bone density, placing them at increased risk. Among adults aged 45 to 65 years, 26% report ever having been diagnosed with arthritis. Among adults aged 18 to 45 years, 5% report ever having been diagnosed with arthritis. North America followed by Europe is the dominant market of vertebral radiculopathy due to technological advancement, infrastructure and better healthcare facilities and Asia Pacific is expected to grow during the forecast period owed to the rise in the ageing population suffering from osteoarthritis and increasing government initiatives. The key players in the global vertebral radiculopathy market are Bayer AG, Atnahs, Taisho Pharmaceutical Co., ltd., Almatica Pharma, Inc. Canton Laboratories, LLC, etc. Acquisition, mergers, strategic collaborations, and technology play a vital role in the growth of the vertebral radiculopathy market.North America is a dominant region in the Paresthesia Treatment industry and is expected to grow at a CAGR of 10.8 % through the forecast period, owing to the presence of a large patient population, strong presence of key players, ease of drug availability, well-developed healthcare infrastructure, favourable reimbursement policies in the healthcare system, higher number of research, development & innovation activities and higher adoption of advanced therapeutics. The United States was a dominant region in North America with the market 70 % share in 2023. It has a significant prevalence of neurological conditions, such as diabetic neuropathy, carpal tunnel syndrome, and multiple sclerosis in US. About 20 million Americans suffer from peripheral neuropathy, a general term for damage to nerves located outside the brain and spinal cord. Peripheral nerves carry messages between the central nervous system to the rest of the body, including arms and legs. The United States is at the forefront of medical research and technological advancement, which has led to the development of innovative treatment modalities for paresthesia, including advanced medical devices like TENS machines, nerve stimulators, and other neurostimulation technologies.
Paresthesia Treatment Market by Regional Insight
Boston Scientific Corp. is one of the dominant industries in the paresthesia Treatment Market. 1. In October 2023, Boston Scientific Corp. received FDA (Food and Drug Administration) approval for an expanded indication of the Wave Writer Alpha Spinal Cord Stimulator (“SCS”) Systems for the treatment of painful diabetic peripheral neuropathy (DPN), a complication of diabetes that affect the lower extremities of the body. 2. 26, 2023, Abbott (NYSE: ABT) announced that the U.S. Food and Drug Administration (FDA) has approved its Proclaim™ XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN).
Competitive landscape:
Paresthesia Treatment Market Scope: Inquire before buying
Global Paresthesia Treatment Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 5.50 Bn. Forecast Period 2024 to 2030 CAGR: 3.7% Market Size in 2030: US $ 7.9 Bn. Segments Covered: By Causes Radiculopathy Neuropathy By Distribution Channels Hospitals Clinics Diagnostic Centres Paresthesia Treatment Market, by Region:-
North America (United States, Canada, and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A) South America (Brazil, Argentina Rest of South America)Key Industry Players in the Paresthesia Treatment Market:
1. Pfizer Inc. 2. Novartis AG 3. GlaxoSmithKline plc 4. Merck & Co., Inc. 5. Johnson & Johnson 6. Teva Pharmaceutical Industries Ltd. 7. AbbVie Inc. 8. Amgen Inc. 9. AstraZeneca PLC 10. Bayer AG 11. Eli Lilly and Company 12. Sanofi S.A. 13. Medtronic plc 14. Boston Scientific Corporation 15. Abbott Laboratories 16. Stryker Corporation 17. Siemens Healthineers AG 18. Cardinal Health, Inc. 19. Medtronic Inc. 20. Allergan plcFrequently Asked Questions:
1] What segments are covered in the Paresthesia Treatment Market report? Ans. The segments covered in the Paresthesia Treatment Market report are based on Causes and Distribution Channels. 2] Which region is expected to hold the highest share in the Paresthesia Treatment Market? Ans. The European region is expected to hold the highest share of the Paresthesia Treatment Market. 3] What is the market size of the Paresthesia Treatment Market by 2030? Ans. The market size of the Paresthesia Treatment Market by 2030 will be $ 7.9 Billion. 4] What is the forecast period for the Paresthesia Treatment Market? Ans. The Forecast period for the Paresthesia Treatment Market is 2024- 2030.
1. Paresthesia Treatment Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Paresthesia Treatment Market: Dynamics 2.1. Paresthesia Treatment Market Trends by Region 2.1.1. North America Paresthesia Treatment Market Trends 2.1.2. Europe Paresthesia Treatment Market Trends 2.1.3. Asia Pacific Paresthesia Treatment Market Trends 2.1.4. Middle East and Africa Paresthesia Treatment Market Trends 2.1.5. South America Paresthesia Treatment Market Trends 2.2. Paresthesia Treatment Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Paresthesia Treatment Market Drivers 2.2.1.2. North America Paresthesia Treatment Market Restraints 2.2.1.3. North America Paresthesia Treatment Market Opportunities 2.2.1.4. North America Paresthesia Treatment Market Challenges 2.2.2. Europe 2.2.2.1. Europe Paresthesia Treatment Market Drivers 2.2.2.2. Europe Paresthesia Treatment Market Restraints 2.2.2.3. Europe Paresthesia Treatment Market Opportunities 2.2.2.4. Europe Paresthesia Treatment Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Paresthesia Treatment Market Drivers 2.2.3.2. Asia Pacific Paresthesia Treatment Market Restraints 2.2.3.3. Asia Pacific Paresthesia Treatment Market Opportunities 2.2.3.4. Asia Pacific Paresthesia Treatment Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Paresthesia Treatment Market Drivers 2.2.4.2. Middle East and Africa Paresthesia Treatment Market Restraints 2.2.4.3. Middle East and Africa Paresthesia Treatment Market Opportunities 2.2.4.4. Middle East and Africa Paresthesia Treatment Market Challenges 2.2.5. South America 2.2.5.1. South America Paresthesia Treatment Market Drivers 2.2.5.2. South America Paresthesia Treatment Market Restraints 2.2.5.3. South America Paresthesia Treatment Market Opportunities 2.2.5.4. South America Paresthesia Treatment Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Regulatory Landscape by Region 2.5.1. North America 2.5.2. Europe 2.5.3. Asia Pacific 2.5.4. Middle East and Africa 2.5.5. South America 2.6. Paresthesia Treatment Clinical Trial Analysis for Paresthesia Treatment 2.7. Key Opinion Leader Analysis For the Paresthesia Treatment Industry 2.8. Analysis of Government Schemes and Initiatives For the Paresthesia Treatment Industry 3. Paresthesia Treatment Market: Global Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2030) 3.1. Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 3.1.1. Hospitals 3.1.2. Clinics 3.1.3. Diagnostics Centres 3.2. Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 3.2.1. Radiculopathy 3.2.2. Neuropathy 3.3. Paresthesia Treatment Market Size and Forecast, by Region (2024-2030) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Paresthesia Treatment Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2030) 4.1. North America Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 4.1.1. Hospitals 4.1.2. Clinics 4.1.3. Diagnostics Centres 4.2. North America Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 4.2.1. Radiculopathy 4.2.2. Neuropathy 4.3. North America Paresthesia Treatment Market Size and Forecast, by Country (2024-2030) 4.3.1. United States 4.3.1.1. United States Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 4.3.1.1.1. Hospitals 4.3.1.1.2. Clinics 4.3.1.1.3. Diagnostics Centres 4.3.1.2. United States Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 4.3.1.2.1. Radiculopathy 4.3.1.2.2. Neuropathy 4.3.2. Canada 4.3.2.1. Canada Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 4.3.2.1.1. Hospitals 4.3.2.1.2. Clinics 4.3.2.1.3. Diagnostics Centres 4.3.2.2. Canada Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 4.3.2.2.1. Radiculopathy 4.3.2.2.2. Neuropathy 4.3.3. Mexico 4.3.3.1. Mexico Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 4.3.3.1.1. Hospitals 4.3.3.1.2. Clinics 4.3.3.1.3. Diagnostics Centres 4.3.3.2. Mexico Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 4.3.3.2.1. Radiculopathy 4.3.3.2.2. Neuropathy 5. Europe Paresthesia Treatment Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2030) 5.1. Europe Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.2. Europe Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3. Europe Paresthesia Treatment Market Size and Forecast, by Country (2024-2030) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.1.2. United Kingdom Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3.2. France 5.3.2.1. France Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.2.2. France Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3.3. Germany 5.3.3.1. Germany Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.3.2. Germany Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3.4. Italy 5.3.4.1. Italy Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.4.2. Italy Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3.5. Spain 5.3.5.1. Spain Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.5.2. Spain Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3.6. Sweden 5.3.6.1. Sweden Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.6.2. Sweden Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3.7. Austria 5.3.7.1. Austria Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.7.2. Austria Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 5.3.8.2. Rest of Europe Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6. Asia Pacific Paresthesia Treatment Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2030) 6.1. Asia Pacific Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.2. Asia Pacific Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3. Asia Pacific Paresthesia Treatment Market Size and Forecast, by Country (2024-2030) 6.3.1. China 6.3.1.1. China Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.1.2. China Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.2. S Korea 6.3.2.1. S Korea Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.2.2. S Korea Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.3. Japan 6.3.3.1. Japan Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.3.2. Japan Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.4. India 6.3.4.1. India Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.4.2. India Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.5. Australia 6.3.5.1. Australia Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.5.2. Australia Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.6. Indonesia 6.3.6.1. Indonesia Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.6.2. Indonesia Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.7. Malaysia 6.3.7.1. Malaysia Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.7.2. Malaysia Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.8. Vietnam 6.3.8.1. Vietnam Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.8.2. Vietnam Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.9. Taiwan 6.3.9.1. Taiwan Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.9.2. Taiwan Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 6.3.10.2. Rest of Asia Pacific Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 7. Middle East and Africa Paresthesia Treatment Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2030) 7.1. Middle East and Africa Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 7.2. Middle East and Africa Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 7.3. Middle East and Africa Paresthesia Treatment Market Size and Forecast, by Country (2024-2030) 7.3.1. South Africa 7.3.1.1. South Africa Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 7.3.1.2. South Africa Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 7.3.2. GCC 7.3.2.1. GCC Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 7.3.2.2. GCC Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 7.3.3. Nigeria 7.3.3.1. Nigeria Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 7.3.3.2. Nigeria Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 7.3.4.2. Rest of ME&A Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 8. South America Paresthesia Treatment Market Size and Forecast by Segmentation (by Value in USD Billion) (2024-2030 8.1. South America Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 8.2. South America Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 8.3. South America Paresthesia Treatment Market Size and Forecast, by Country (2024-2030) 8.3.1. Brazil 8.3.1.1. Brazil Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 8.3.1.2. Brazil Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 8.3.2. Argentina 8.3.2.1. Argentina Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 8.3.2.2. Argentina Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Paresthesia Treatment Market Size and Forecast, by Distribution Channel (2024-2030) 8.3.3.2. Rest Of South America Paresthesia Treatment Market Size and Forecast, by Causes (2024-2030) 9. Global Paresthesia Treatment Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Product Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Market Analysis by Organized Players vs. Unorganized Players 9.4.1. Organized Players 9.4.2. Unorganized Players 9.5. Leading Paresthesia Treatment Market Companies, by market capitalization 9.6. Market Structure 9.6.1. Market Leaders 9.6.2. Market Followers 9.6.3. Emerging Players 9.7. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Cipla Ltd. 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Pfizer Inc. 10.3. Novartis AG 10.4. GlaxoSmithKline plc 10.5. Merck & Co., Inc. 10.6. Johnson & Johnson 10.7. Teva Pharmaceutical Industries Ltd. 10.8. AbbVie Inc. 10.9. Amgen Inc. 10.10. AstraZeneca PLC 10.11. Bayer AG 10.12. Eli Lilly and Company 10.13. Sanofi S.A. 10.14. Medtronic plc 10.15. Boston Scientific Corporation 10.16. Abbott Laboratories 10.17. Stryker Corporation 10.18. Siemens Healthineers AG 10.19. Cardinal Health, Inc. 10.20. Medtronic Inc. 10.21. Allergan plc 11. Key Findings 12. Industry Recommendations 13. Paresthesia Treatment Market: Research Methodology