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2022

Paresthesia Treatment Market

Paresthesia Treatment Market Size, Share, Competitive Landscape and Trend Analysis Report by Disease Type (Acute Paresthesia, Chronic Paresthesia), by Treatment (Immunosuppressant, Anticonvulsants, Topical Creams, Antivirals, Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2021-2031

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Author's: Avinash Gadekar | Roshan Deshmukh
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Paresthesia Treatment Market Research, 2031

The global paresthesia treatment market size was valued at $5.4 billion in 2021, and is projected to reach $7.9 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031. Paresthesia is a burning or prickling sensation that is usually felt in the hands, arms, legs, or feet, however can also occur in other parts of the body. The sensation, which happens without warning, is usually painless and described as tingling or numbness, skin crawling, or itching. Chronic paresthesia is often a symptom of a neurological disease or traumatic nerve damage. It can be caused by disorders affecting the central nervous system, such as stroke and transient ischemic attacks, multiple sclerosis, transverse myelitis, and encephalitis. The diagnosis is done based on determining the underlying condition causing the paresthetic sensations. The temporary paresthesia can be treated with the medication such as over-the-counter drugs used as pain killer. The chronic paresthesia can be better treated with the antidepressant medications such as amitriptyline. These medications work by altering the person's perception of pain.

The growth of paresthesia treatment market share is driven by rise in prevalence of disease such as cancer, surge in geriatric population, and lack of proper nutrients in the food. In addition, increase in prevalence of paresthesia among the population, poor lifestyle, and increase in healthcare expenditure would further supplement the paresthesia treatment market growth.

Paresthesia Treatment Market, Paresthesia Treatment Market Size, Paresthesia Treatment Market Share, Paresthesia Treatment Market Analysis, Paresthesia Treatment Market Growth, Paresthesia Treatment Market Opportunity, Paresthesia Treatment Market Trends

On the other hand, low effectiveness of medicines associated with the treatment, and stringent regulatory rules of the authority for the approvals of the medicines are expected to hinder the growth of the market. Conversely, the paresthesia treatment market opportunity include the factor like increase in investments in the research and developments (R&Ds) for better treatment.

The COVID-19 pandemic affected the paresthesia treatment industry in a fairly negative way, like various other pharmaceutical industries were effected. The pandemic has effected the paresthesia treatment market share either by directly impacting the production of the medicines. Moreover, the distribution channels were also impacted with the disruptions in the transport of the materials. In addition, the pharmaceutical companies were impacted by the financials crisis due to the slowdown of the sales of the products. The major crisis include supply of raw materials for manufacturing drug products due to disruptions in transportation facility. This made the gap between demand and supply to increase resulting in the bad impression of the market players. Since, the treatment therapy may result in the addiction of the medicines or may also make the patients to completely rely on the medicines for the treatment of temporary or chronic paresthesia.

Overall, the COVID-19 pandemic had a fairly negative impact on the paresthesia treatment industry owing to decreased production of the medicines and disturbances in supply of the medicines during the COVID-19 pandemic. However, this situation is expected to change post COVID-19 with the increase in R&D activities to study the treatment options available for paresthesia and regularities in the distribution & supply of the medicines.

Paresthesia Treatment Market Segmentation

The paresthesia treatment market is segmented into Disease Type, Treatment, Distribution Channel and Region. By disease type, the market is classified into acute paresthesia and chronic paresthesia. Furthermore, the acute paresthesia is sub-classified as pediatric and adult. Moreover, the chronic paresthesia is sub-classified as pediatric and adult. By treatment, the market is classified into immunosuppressant, anticonvulsants, topical creams, antivirals and others. By distribution channel, the market is classified into hospital pharmacy, retail pharmacy, and online pharmacy. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, Taiwan and Rest of Asia-Pacific), and LAMEA (Brazil, Turkey, Venezuela, South Africa, Saudi Arabia, and Rest of LAMEA).

Market By Disease Type Segment Review

By disease type, the chronic paresthesia segment is anticipated to grow with the largest share during the forecast period. This is attributed to the increase in the prevalence of chronic paresthesia disease, and availability of number of targeted therapeutics. Recent advances in medicine technology have contributed to improve the understanding of treatment options, thus driving the need for targeted drug therapies for paresthesia treatment.

Paresthesia Treatment Market by Disease Type

Market By Treatment Segment Review

By treatment, the topical creams segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period due to increase in number of patients suffering from paresthesia. In addition, adoption of unhealthy lifestyle and rise in governmental initiatives contribute toward the growth of the market.

Paresthesia Treatment Market by Treatment

Market By Distribution Channel Segment Review

By distribution channel, the retail pharmacy segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period due to increase in number of retail pharmacy shops globally and ease of availability of drugs at the retail shops. 

Paresthesia Treatment Market by Distribution Channel

Market By Region Review

North America accounted for the largest share of revenue in 2021, and is anticipated to maintain its dominance from 2022 to 2031, owing to presence of large patient population, strong presence of key players, ease of drug availability, well developed healthcare infrastructure, favorable reimbursement policies in healthcare system, higher number of research, development & innovation activities and higher adoption of advanced therapeutics. 

Paresthesia Treatment Market by Region

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the paresthesia treatment market analysis from 2021 to 2031 to identify the prevailing paresthesia treatment market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the paresthesia treatment market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global paresthesia treatment market size.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global paresthesia treatment market trends, key players, market segments, application areas, and market growth strategies.

Paresthesia Treatment Market Report Highlights

Aspects Details
Paresthesia Treatment Market By Disease Type
By Disease Type
  • Acute Paresthesia
    • Age Group
      • Adult
      • Geriatric
  • Chronic Paresthesia
    • Age Group
      • Adult
      • Geriatric
Paresthesia Treatment Market By Treatment
By Treatment
  • Immunosuppressant
  • Anticonvulsants
  • Topical Creams
  • Antivirals
  • Others
Paresthesia Treatment Market By Distribution Channel
By Distribution Channel
  • Online Pharmacy
  • Hospital Pharmacy
  • Retail Pharmacy
Paresthesia Treatment Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Spain, Rest of Europe, France, Germany, UK, Italy)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Taiwan, Rest Of Asia Pacific)
  • LAMEA  (Brazil, Turkey, Venezuela, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

Nevro Corp., Cyberonics, Inc., Stryker Corp., Merck, Stimwave LLC, Omron Healthcare, Inc., Abbott Laboratories, Pfizer, Boston Scientific Corporation, Glenmark, GlaxoSmithKline plc., AbbVie Inc., Medtronic, EnteroMedics Inc., Bio-Medical Research Ltd., Baxter International Inc., Cipla Ltd.

Analyst Review

The utilization of paresthesia drugs is expected to witness a significant rise owing to increase in prevalence of chronic diseases such as cancer, in both developed and developing economies. Furthermore, the paresthesia treatment market growth is propelled by surge in geriatric population, increase in collaboration between pharmaceutical companies for development of novel drugs, and rise in awareness associated with paresthesia.

North America accounted for the highest market share in 2021, due to availability of advance treatment drugs, higher disease awareness, and heavy expenditure by the government on healthcare, followed by Europe and Asia-Pacific. Asia Pacific is expected to exhibit fastest market growth owing to increase in incidence of chronic diseases such as cancer. Pharmaceutical companies have focused on expanding their presence in emerging economies, which is anticipated to drive the market growth.

Author Name(s) : Avinash Gadekar | Roshan Deshmukh
Frequently Asked Questions?

The total market value of Paresthesia Treatment market is $7,900.0 million in 2031.

The market value of Paresthesia Treatment market in 2021 is $5,376.28 million.

The rise in prevalence of disease such as cancer, surge in geriatric population, and lack of proper nutrients in the food are the key trends of Paresthesia Treatment Market report.

The chronic paresthesia segment is anticipated to grow with the largest share during the forecast period. This is attributed to the increase in the prevalence of chronic paresthesia disease, and availability of number of targeted therapeutics.

The base year is 2021 in Paresthesia Treatment market.

Yes, the Paresthesia Treatment market companies are profiled in the report.

Yes, the Paresthesia Treatment market report provides PORTER Analysis.

Asia-Pacific is expected to grow at the highest CAGR of 5.0%, owing to increase in number of affected population and rise in awareness related to different types of paresthesia.

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Paresthesia Treatment Market

Global Opportunity Analysis and Industry Forecast, 2021-2031