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The Meralgia Paresthetica Market is significantly impacted by low awareness and underdiagnosis of the condition. As a rare disorder involving compression of the lateral femoral cutaneous nerve, lack of awareness among both healthcare professionals and the general public influences the market, leading to delayed diagnosis and limited treatment options.
Compression of the nerves gives rise to Meralgia Paresthetica and affected market dynamics have obesity nd pregnancy as promotional factors. Meralgia Paresthetica is likely to become a public health concern as the obesity rate and pregnancy increases worldwide, in turn increasing demand of diagnosis & therapeutic intervention owing them.
The dynamism of the Meralgia Paresthetica Market is greatly influenced by developments in diagnostic imaging technologies such as ultrasound and magnetic resonance imaging (MRI). Such technologies help in precise diagnosis and localization of nerve compression thereby impacting treatment selection decisions thus leading to the Value growth.
Occupational activities that involve prolonged standing, wearing of tight clothing etc can the cause for Meralgia Paresthetica. The effect of occupational factors on the condition, in its turn, affects market dynamics determining preventative needs and dedicated interventions.
The response that a conservative approach attains through treatments from physical therapy, pain management and lifestyle changes defines the market. Non-invasive treatments are typically the frontline management for Meralgia Paresthetica; therefore, their efficacy impacts satisfaction rates and pressure levels in demand stemming from these interventions.
For more severe cases where more advanced intervention is warranted surgical options such as nerve decompression may be considered. Surgical therapies that are readily available and functioning in the market change its dynamics allowing individuals suffering from persistent or severe symptoms of Meralgia Paresthetica to choose an alternative solution.
The role of the training and awareness level among healthcare providers—neurologists, orthopedic specialists towards influencing market in a number. Specifically, improved awareness of Meralgia Paresthetica among medical personnel advances early and precise detection; thus resulting to positive outcomes.
Healthcare infrastructure, accessibility and quality varies in different regions thus influencing the market landscape. Infrastructure differences in healthcare can also impact the diagnosing and treating MeralgiaParesthetica hence affecting dynamics of regional market.
The efforts of R&D are devoted to the improvement and early diagnosis and medical treatment solutions based on developing effective pharmacological agents, namely partestinosteroids as well lead market growth. Research investments consequently lead to development of new therapeutically viable methods, thus providing an array of treatment choices for patients.
The regulatory landscape, including approvals for new treatments and medical devices, affects market entry and adoption. Stringent regulatory processes ensure the safety and efficacy of interventions for Meralgia Paresthetica, building trust among healthcare professionals and patients.
Meralgia Paresthetica Market Highlights:
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 (%)
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 
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. Â Â Â
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. Â Â
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.
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