The market trends of meralgia paresthetica reflect a growing awareness of the condition among healthcare professionals and patients. Improved understanding of the symptoms, risk factors, and diagnostic criteria has led to increased diagnosis rates, contributing to a rising demand for effective management strategies.
Metabolic disorders such as obesity form an integral part of meralgia paresthetica which shape market dynamics. The high rates of obesity all over the globe, have also driven gradual aging cases. Healthcare providers are realizing that effective management of this nerve condition should focus on underlying metabolic conditions.
The developing technology in diagnostic imaging remains highly significant for the meralgia paresthetica market. The extensive use of advanced imaging techniques, magnetic resonance imaging (MRI) and nerve conduction studies assist in the precise identification of a pathological process in peripheral nerve compression. This phenomenon makes diagnostic procedures more efficient, and handles the process planning of treatment.
One of the distinguishing features appearing in this market segment is that non-surgical treatment modalities for meralgia paresthetica gain more emphasis. Conservative methods such as physical therapies, lifestyle changes and medications are consistently effective ways to treat symptomatic control. These changes in preference are patient-centered as well as provider centered.
It is a trend within the meralgia paresthetica market to move towards minimally invasive procedures, for those situations which need intervention. Intervention techniques abide by nerve decompression and neurolysis as alternatives to standard open routes advocating shorter restoration times with less advance interim torment.
Collaborative works of neurologists and pain specialists governs the dynamic forces which act on this market. Inter disciplinary method insures optimal examination and treatment of meralgia paresthetica, combining neurology recognition with pain control measures. This partnership helps improve patient care through enhanced personalized approach.
The adoption of telemedicine has been impacting the meralgia paresthetica market, but chiefly for consultations and follow-ups. This is possible by incorporating Telemedicine which enables patients to reach the healthcare providers via a virtual connection that entails ongoing care, disease surveillance and ultimately saving tons of in-person visits especially for routine follow-ups.
Changes in healthcare policies and reimbursement considerations are influencing market dynamics. Favorable reimbursement structures for both diagnostic procedures and conservative treatments incentivize healthcare providers to offer comprehensive care for meralgia paresthetica. These policy considerations contribute to improved patient access to appropriate treatments.
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
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:
Research Methodology 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.
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