The Meralgia Paresthetica Market is expected to reach USD 1,465.10 Million by 2030 at 3.40% CAGR during the forecast period 2022-2030.
Meralgia paresthetica is a condition characterized by tingling, numbness and burning pain in outer thigh. The major cause of meralgia paresthetica is compression of the nerve that supplies sensation to the skin surface of the thigh. The meralgia paresthetica market growth is majorly attributed to the increasing prevalence of obesity, rising funding, and healthcare insurance coverage. Moreover, common causes of this compression includes any condition that increases pressure on the groin such as tight clothing i.e. belts, corsets and tight pants, obesity or weight gain, wearing a heavy tool belt, pregnancy, scar tissue near the inguinal ligament due to injury or any previous surgery. Furthermore, nerve injury, which due to diabetes or seat belt injury after an accident (by motor vehicle), can also cause meralgia paresthetica.
As per the National Diabetes Statistics Report suggested by the Centers for Disease Control and Prevention, it is found that 9.4% of the U.S. population i.e. 30.3 million people had diabetes in 2015. The rising prevalence of diabetes in low and middle-income countries appears to be fuelled by nutrition transition, rapid urbanization, and increasingly sedentary lifestyles, suggested by a study published in the journal Pharmacoeconomics in 2015. Furthermore, globalization in healthcare has increased the market growth. Established market players in the developed countries leads the globalization by pushing new products and services into the developing countries and emerging economies. According to the World Health Organization estimates, head injuries are responsible for 4.5%-11% of all injuries in the world including low or high income economies. This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to increase further over the coming years.
On the other hand, availability of expensive treatment may hamper the meralgia paresthetica market growth during the forecast period.
Sources: Annual reports, Press release, White paper, Company presentation
The Meralgia Paresthetica Market is segmented on the basis of types, by treatment, and by end user.
On the basis of diagnosis, meralgia paresthetica market is segmented into imaging techniques, electromyography, nerve conduction study, nerve blockade. Imaging techniques are further segmented as X-ray radiography, magnetic resonance imaging, medical ultrasonography or ultrasound, and others.
Based on the treatment, meralgia paresthetica market is segmented into medication, surgery, and others. Medication is further segmented into corticosteroid injections, tricyclic antidepressants, and anti-seizure. Anti-seizure is further segmented into gabapentin (gralise, neurontin), phenytoin (Dilantin) or pregabalin (lyrica) and others.
On the basis of end user, meralgia paresthetica market is segmented into hospitals & clinics, research laboratories, and others.
Some of key the players in the meralgia paresthetica market are LivaNova PLC (U.K), EnteroMedics Inc. (U.S.), ElectroCore Medical LLC (U.S.), Boston Scientific Corporation (U.S.), Cyberonics, Inc. (U.S.), NeuroMetrix, Inc.(U.S.), ImThera Medical (U.S.), and Inspire Medical Systems, Inc.(U.S.) and others.
Sources: Annual reports, Press release, White paper, and Company presentation
The Americas dominate the meralgia paresthetica market owing to well-developed technology, increasing patient with obesity, high healthcare spending, and increasing government support for research & development. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region.
Europe holds the second position in the meralgia paresthetica market owing to the government support for research & development and availability of funds for research. Moreover, this is expected to continue to drive the European market over the forecasted period. For instance, countries like Germany and France are increasing investment in the healthcare domain.
Asia Pacific is the fastest growing meralgia paresthetica market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, increasing demand for new treatment methods for chronic diseases in countries like India and South Korea is likely to emerge as the fastest growing market across the globe. Furthermore, increasing demand for quality devices in the healthcare is projected to lead to the use of advanced equipment, which, in turn, will increase the market growth of meralgia paresthetica in the region.
On the other hand, in the Middle East and Africa, obesity and diabetes have become a huge problem due to limited screening, ignorance of diseases, and poor access to treatment.
|Market Size||2030:USD 1,465.10 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Types, Treatment, and End user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LivaNova PLC (U.K), EnteroMedics Inc. (U.S.), ElectroCore Medical LLC (U.S.), Boston Scientific Corporation (U.S.), Cyberonics, Inc. (U.S.), NeuroMetrix, Inc.(U.S.), ImThera Medical (U.S.), and Inspire Medical Systems, Inc.(U.S.) and others|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
meralgia paresthetica market is projected to grow at a 3.40% CAGR between 2022-2030.
The Americas is expected to dominate the meralgia paresthetica market.
Rising prevalence of obesity and globalization in healthcare are the key factors adding to the meralgia paresthetica market growth.
The availability of cost-effective treatment may limit the meralgia paresthetica market growth.
Key players profiled in the meralgia paresthetica market include Inspire Medical Systems, Inc. (U.S.), ImThera Medical (U.S.), NeuroMetrix, Inc. (U.S.), Cyberonics, Inc. (U.S.), Boston Scientific Corporation (U.S.), ElectroCore Medical LLC (U.S.), EnteroMedics Inc. (U.S.), and LivaNova PLC (U.K.).