Paresthesia Treatment Market
Paresthesia Treatment Market Size, Share & Trends Analysis Report by Type (Chronic Paresthesia, and Acute Paresthesia), by Treatment (Immunosuppressant, Anticonvulsants, Topical Creams, Antivirals, and Others), and by Distribution Channel (Online Retailers, Hospitals and Healthcare Facilities, Retail Pharmacy, and Others), Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Paresthesia treatment market is anticipated to grow at a CAGR of 3.6 % during the forecast period (2023-2030). The market’s growth is attributed to high rate of chronic pain across the globe. According to the Population Health Metrics, in November 2022, about 20.0% of individuals globally suffer from chronic pain that signify an enormous expense for the medical community. Numerous chronic pain conditions, including neuropathic pain linked to paresthesia, are prevalent in the aforementioned group. Chronic pain is a widespread condition, affecting around 20% of the global population. A 2016 Global Burden of Disease Study reported that pain and pain-related diseases were the leading cause of disability and disease burden globally. The most common chronic symptom was recurrent tension-type headache, with 1.9 billion people affected. Low back and neck pain were the leading causes of disability internationally, with other types of chronic pain also featured in the top 10 disabilities.
Segmental Outlook
The global paresthesia treatment market is segmented on the type, treatment, and distribution channel. Based on the type, the market is sub-segmented into chronic paresthesia, and acute paresthesia. Based on the treatment, the market is sub-segmented into immunosuppressant, anticonvulsants, topical creams, antivirals, and others. Furthermore, on the basis of distribution channel, the market is sub-segmented into online retailers, hospitals and healthcare facilities, retail pharmacy, and others. The retail pharmacy subcategory is expected to capture a significant portion of the market share within the distribution channel segment. This is attributed to the rise in the number of retail pharmacies throughout the globe and simpler access to medications at the aforementioned places.
The Anticonvulsants Sub-Segment is Anticipated to Hold a Considerable Share of the Global Paresthesia Treatment Market
Among the treatment, the anticonvulsants sub-segment is expected to hold a considerable share of the global paresthesia treatment market. The segmental growth is attributed increased efficacy in neuropathic pain. Anticonvulsant drugs have proven to be effective in treating neuropathic pain, especially the searing or shooting pain that results from injury to the nerves. Their method of modifying nerve signals is very important for treating paresthesia and related disorders. According to the PM&R KnowledgeNow, in June 2022, approximately 20.4% (50 million) and 8% (20 million) of the US adult population were affected by chronic pain and high-impact chronic pain respectively in 2016. Neuropathic-type pain, a shooting or burning pain associated with nerve damage, was experienced by 6.9-10% of the US population. Pain imposes economic burden, with an estimated annual cost of $560-635 billion in 2010, higher than the costs for heart disease, cancer, and diabetes when accounting for lost productivity and the burden to one’s social support system.
Regional Outlook
The global paresthesia treatment market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the huge population base and the economy expanding rapidly.
Global Paresthesia Treatment Market Growth by Region 2023-2030
The North America Region is Expected to Grow at a Significant CAGR in the Global Paresthesia Treatment Market
Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the rising antiviral access and availability across the region. Higher dispensing rates can arise from improved antiviral accessibility and availability, both in terms of cost and supply. A wider audience of users from different zip codes could result from increased accessibility. According to the Centers for Disease Control and Prevention (CDC.gov), in October 2022, during the period 2022, overall dispensing of oral antivirals increased by 57.0%. During the same 4-week period, dispensing of oral antivirals in high vulnerability zip codes increased by 159.0%, in medium vulnerability zip codes by 48.0%, and in low vulnerability zip codes by 21.0%, indicating a narrowing of the dispensing gap among these three zip code categories. However, overall dispensing rates still increased.
The values for each category are as follows
Source: Centers for Disease Control and Prevention (.gov)
- For Category 1 (Baseline): 100% (Baseline)
- For Category 2 (High Vulnerability): 159% (Increase)
- For Category 3 (Medium Vulnerability): 48% (Increase)
- For Category 4 (Low Vulnerability): 21% (Increase)
Market Players Outlook
The major companies serving the paresthesia treatment market include Bio-Medical Research Ltd., Boston Scientific Corp., Cipla Ltd., EnteroMedics Inc., Forbes Media LLC and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2022, Amgen acquired ChemoCentryx, Inc.it includes a TAVNEOS (avacopan), a First-in-Class Medicine for Patients With Severe Active ANCA-Associated Vasculitis, added to Inflammation Portfolio.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global paresthesia treatment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies. Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Abbott Healthcare Pvt. Ltd.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. AbbVie Inc.,
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Baxter International, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Paresthesia Treatment Market by Type
4.1.1. Chronic Paresthesia
4.1.2. Acute Paresthesia
4.2. Global Paresthesia Treatment Market by Treatment
4.2.1. Immunosuppressant
4.2.2. Anticonvulsants
4.2.3. Topical Creams
4.2.4. Antivirals
4.2.5. Others (Physical Therapy, and Vitamin Deficiencies)
4.3. Global Paresthesia Treatment Market by Distribution Channel
4.3.1. Online Retailers
4.3.2. Hospitals and Healthcare Facilities
4.3.3. Retail Pharmacy
4.3.4. Others (Government Procurement, and Specialized Clinics and Pain Management Centers)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Bio-Medical Research Ltd.
6.2. Boston Scientific Corp.
6.3. Cipla Ltd.
6.4. EnteroMedics Inc.
6.5. Forbes Media LLC
6.6. GlaxoSmithKline
6.7. Glenmark Pharmaceuticals Ltd.
6.8. Medtronic Pvt Ltd.
6.9. Merck & Co., Inc.
6.10. Neurospine Institute
6.11. Nevro Corp. ?
6.12. OMRON Healthcare, Inc.
6.13. Pfizer Inc.
6.14. Stryker Corp.
1. GLOBAL PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
2. GLOBAL CHRONIC PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL ACUTE PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TREATMENT, 2022-2030 ($ MILLION)
5. GLOBAL IMMUNOSUPPRESSANT FOR PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL ANTICONVULSANTS FOR PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL TOPICAL CREAMS FOR PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL ANTIVIRALS FOR PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL OTHER PARESTHESIA TREATMENTS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2022-2030 ($ MILLION)
11. GLOBAL PARESTHESIA TREATMENT IN ONLINE RETAILERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL PARESTHESIA TREATMENT IN HOSPITALS AND HEALTHCARE FACILITIES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL PARESTHESIA TREATMENT IN RETAIL PHARMACY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL PARESTHESIA TREATMENT IN OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. NORTH AMERICAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
17. NORTH AMERICAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TYPE , 2022-2030 ($ MILLION)
18. NORTH AMERICAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TREATMENT, 2022-2030 ($ MILLION)
19. NORTH AMERICAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2022-2030 ($ MILLION)
20. EUROPEAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
21. EUROPEAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
22. EUROPEAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TREATMENT, 2022-2030 ($ MILLION)
23. EUROPEAN PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2022-2030 ($ MILLION)
24. ASIA-PACIFIC PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
25. ASIA-PACIFIC PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
26. ASIA-PACIFIC PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TREATMENT, 2022-2030 ($ MILLION)
27. ASIA-PACIFIC PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2022-2030 ($ MILLION)
28. REST OF THE WORLD PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
29. REST OF THE WORLD PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY TREATMENT, 2022-2030 ($ MILLION)
30. REST OF THE WORLD PARESTHESIA TREATMENT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2022-2030 ($ MILLION)
1. GLOBAL PARESTHESIA TREATMENT MARKET SHARE BY TYPE, 2022 VS 2030 (%)
2. GLOBAL CHRONIC PARESTHESIA TREATMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL ACUTE PARESTHESIA TREATMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL PARESTHESIA TREATMENT MARKET SHARE BY TREATMENT, 2022 VS 2030 (%)
5. GLOBAL IMMUNOSUPPRESSANT FOR PARESTHESIA TREATMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL ANTICONVULSANTS FOR PARESTHESIA TREATMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL TOPICAL CREAMS FOR PARESTHESIA TREATMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL ANTIVIRALS FOR PARESTHESIA TREATMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL OTHER PARESTHESIA TREATMENTS MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL PARESTHESIA TREATMENT MARKET SHARE BY DISTRIBUTION CHANNEL, 2022 VS 2030 (%)
11. GLOBAL PARESTHESIA TREATMENT IN ONLINE RETAILERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL PARESTHESIA TREATMENT IN HOSPITALS AND HEALTHCARE FACILITIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL PARESTHESIA TREATMENT IN HOSPITALS AND HEALTHCARE FACILITIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL PARESTHESIA TREATMENT IN OTHER MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL PARESTHESIA TREATMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. US PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
17. CANADA PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
18. UK PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
19. FRANCE PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
20. GERMANY PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
21. ITALY PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
22. SPAIN PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
23. REST OF EUROPE PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
24. INDIA PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
25. CHINA PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
26. JAPAN PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
27. SOUTH KOREA PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
28. REST OF ASIA-PACIFIC PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
29. REST OF THE WORLD PARESTHESIA TREATMENT MARKET SIZE, 2022-2030 ($ MILLION)
