Meralgia Paresthetica Market Research Report - Forecast till 2032

Meralgia Paresthetica Market Research Report Information By Diagnosis (Imaging Techniques, Electromyography, Nerve Conduction Study, Nerve Blockade), Treatment (Medication, Surgery), End User (Hospitals & Clinics, Research Laboratories) - Forecast till 2032.

ID: MRFR/MED/3870-HCR | 105 Pages | Author: Rahul Gotadki | March 2024         

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Meralgia Paresthetica Market Scenario


The Meralgia Paresthetica Market is expected to reach USD 1.7 Billion by 2032 at 3.3% CAGR during the forecast period 2023-2032.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.


Intended Audience



  • Medical Devices Companies

  • Research and Development (R&D) Companies

  • Government Research Institute

  • Academic Institutes and Universities


Figure: Global Meralgia Paresthetica Market, By Region Market Share, 2016 (%) Meralgia Paresthetica Market

Sources: Annual reports, Press release, White paper, Company presentation


Segmentations


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.


Key Players


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.


Research Methodology Meralgia Paresthetica Market 2018 Sources: Annual reports, Press release, White paper, and Company presentation


Regional Analysis


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.

Report Scope:

Report Scope:
Report Attribute/Metric Details
  Market Size   2032: USD 1.7 Billion
  CAGR   3.3% (2023-2032)
  Base Year   2021
  Forecast Period   2023-2032
  Historical Data   2020
  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 ·  Increasing prevalence of obesity ·  Rising funding ·  Healthcare insurance coverage
 



Frequently Asked Questions (FAQ) :

meralgia paresthetica market is projected to grow at a 3.3% CAGR between 2023-2032.

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.).

Key Questions Answered

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