Meralgia Paresthetica Market Research Report: By Diagnosis (Imaging Techniques, Electromyography, Nerve Conduction Study, Nerve Blockade), Treatment (Medication, Surgery), End User (Hospitals & Clinics, Research Laboratories) - Global Forecast till 2023
The global meralgia paresthetica market is segmented on the basis of types, by treatment, and by end user. On the basis of diagnosis it is segmented into imaging techniques, electromyography, nerve conduction study, nerve blockade. Imaging techniques is further segmented into X-ray radiography, magnetic resonance imaging, medical ultrasonography or ultrasound, and others. Based on the treatment, it 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, it is segmented into hospitals & clinics, research laboratories, and others.
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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.
The Americas dominate the global meralgia paresthetica market owing to the presence of huge patient population with obesity and diabetes, high healthcare spending, and increasing government support for research & development.
Europe holds the second largest share of the global meralgia paresthetica market as result of increasing focus of various government agencies on the treatment of chronic diseases. Moreover, the growing public awareness about meralgia paresthetica likely to boost the European market.
Asia Pacific is the fastest growing meralgia paresthetica market across the globe. Japan holds the major share of the regional market due to availability of advanced technology and huge healthcare spending. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development projected to drive the market in China and India over the forecasted period.
The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth
The global meralgia paresthetica market is expected to grow at a CAGR of ~7.9 % during the forecast period 2017-2023. According to Obesity Society, in the United States (2014), 28.1% of the total population was obese. Out of them, 33.7% were men and 36.5% were women. The prevalence of obesity for men and women aged 20-39 years was 39.5% and 35.4%, respectively. The obesity prevalence was higher in the South (29.4%) and Midwest (29.5%) and lower in the Northeast (25.3%) and West (25.1%) of Unites States.
During last decade the number of treatment procedures have increased which has influenced the growth of the market positively. Moreover, increasing number of patients suffering from chronic diseases have increased the demand different treatments in the market. The market is expecting a healthy growth during the next decade. Moreover, well developed technology has supported the growth of the market in this region.
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