The global paresthesia treatment market is anticipated to grow at a CAGR of 3.6% during the forecast period (2023-2030). Treatment for paresthesia can include medications such as anticonvulsants, tricyclic antidepressants, and pain relievers; neuromodulation devices, that deliver electrical impulses to the nerves; physical therapy and rehabilitation programs; orthopedic devices such as braces, splints, and orthotic insoles; and lifestyle and dietary modifications to address any nutritional deficiencies. The market’s growth is attributed to increasing rate of diabetes across the globe. Furthermore, the market for treatments for paresthesia is significantly influenced by the rising incidence of diabetes throughout the globe. As previously indicated, a significant portion of individuals with diabetes can acquire neuropathy at some point in their lives that raises the need for efficient therapies.
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For instance, in October 2023, Boston Scientific Corp., received FDA (Food and Drug Administration) approval for an expanded indication of the WaveWriter Alpha Spinal Cord Stimulator (“SCS”) Systems. That can influence the body’s lower extremities. Diabetic neuropathy is a type of nerve damage throughout the body, often impacting the nerves in the legs and feet. Over time, elevated levels of glucose in the blood can damage these nerves, leading to sensations of pain and numbness in the legs, feet and hands. The Center 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 will experience neuropathy during their lifetime.
Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
- Segment Covered-
o By Type
o By Treatment
o By Distribution Channel
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- includes Bio-Medical Research Ltd., Boston Scientific Corp., Cipla Ltd., EnteroMedics Inc., Forbes Media LLC, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Paresthesia Treatment Market Report Segment
By Type
- Chronic Paresthesia
- Acute Paresthesia
By Treatment
- Immunosuppressant
- Anticonvulsants
- Topical Creams
- Antivirals
- Others (Physical Therapy, and Vitamin Deficiencies)
By Distribution Channel
- Online Retailers
- Hospitals and Healthcare Facilities
- Retail Pharmacy
- Others (Government Procurement, and Specialized Clinics and Pain Management Centers)
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Global Paresthesia Treatment Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Bio-Medical Research Ltd.
- Boston Scientific Corp.
- Cipla Ltd.
- EnteroMedics Inc.
- Forbes Media LLC
- GlaxoSmithKline
- Glenmark Pharmaceuticals Ltd.
- Medtronic Pvt Ltd.
- Merck & Co., Inc.
- Neurospine Institute
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