Paresthesia Treatment Market Size Worth $8.26 Billion By 2032 | CAGR: 3.6%

The global paresthesia treatment market size is expected to reach USD 8.26 billion by 2032, according to a new study by Polaris Market Research. The report “Paresthesia Treatment Market Share, Size, Trends, Industry Analysis Report, By Type (Acute Paresthesia, Chronic Paresthesia); By Treatment; By End-User; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The exponential rise in healthcare spending across the world that allows for greater access to advanced healthcare services including paresthesia treatment and diagnosis and growing investments in the development of drugs targeting the underlying causes of paresthesia such as inflammation and nerve damage, are prominent factors fostering the global market growth. In addition, the rising awareness among both healthcare professionals and general public about paresthesia and its available treatment options that leading to earlier diagnosis and intervention, are further likely to escalate market growth at rapid pace over the years.

For instance, as per a report published in 2023, Ministry of Health & Family Welfare, India, announced that they have received an allocation of approx. USD 11 billion in the Union budget 2023-24, with an increase of around 12.6 percent compared to the budget of previous year.

Furthermore, there is a significant increase in the number of innovations focusing on non-invasive methods of neuromodulation such as transcutaneous electrical nerve stimulation and transcranial magnetic stimulation, as these techniques mainly aim to provide better relief without needing any kind of surgical implantation, which in turn, generating huge revenue opportunities for the market in the near future.

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In the recent years, the rapid development of new and more advanced treatments like gene therapy and stem cell therapy and growing focus on developing personalized treatment approaches based on the genetic, molecular, and clinical data in order to efficiently tailor therapies to individual patients and likely to cater to growing market needs.

With the growing proliferation for the integration of several types of complementary therapies such as physical therapy, occupational therapy, and psychological support, into paresthesia treatment plans due to its potential and ability to improve overall patient outcomes, while addressing the various dimensions of paresthesia, are also likely to have a positive impact on the market in the coming years.

Paresthesia Treatment Market Report Highlights

• Chronic paresthesia segment accounted for largest share, on account of growing incidence of several types of chronic conditions worldwide
• Anticonvulsants segment held the majority market share, that is largely attributed to widespread use to manage neuropathic pain and its higher safety profile
• Diagnosis centers segment will grow at fastest pace, due to increasing popularity of diagnosis centers because of the availability of innovated treatment equipment
• North America dominated the global market, owing to region’s well-developed healthcare infrastructure a prevalence for various chronic conditions
• The key market players include Boston Scientific, Omron Healthcare, Medtronic, Baxter International, Abbott Laboratories, and Bio-Medical Research

Polaris Market Research has segmented the paresthesia treatment market report based on type, treatment, end-user, and region:

Paresthesia Treatment, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Acute Paresthesia
• Chronic Paresthesia

Paresthesia Treatment, Treatment Outlook (Revenue - USD Billion, 2019 - 2032)

• Immunosuppressants
• Anticonvulsants
• Topical Creams
• Antivirals

Paresthesia Treatment, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals
• Clinics
• Diagnosis Centers

Paresthesia Treatment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Paresthesia Treatment Market Report Scope