Paresthesia Treatment Market Expected to Reach $7.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Paresthesia Treatment Market," The paresthesia treatment market size was valued at $5.4 billion in 2021, and is estimated to reach $7.9 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.

Paresthesia is that "pins and needles" feeling that may have been felt probably at some point. Maybe one fell asleep with the arm pinned under body or may have kept the legs crossed too long. It commonly affects the body parts such as hands, arms, legs, and feet. The paresthesia treatment market analysis include the growth trends like surge in geriatric population, rise in prevalence of cancer, and higher number of R&D activities to develop treatment therapeutics that have significantly contributed toward the growth of the market. Promising drugs in late stage of pipeline with high potential of emerging economies are further expected to provide lucrative opportunities for growth of paresthesia treatment market size. However, low effectiveness of medicines associated with the treatment impede the paresthesia treatment industry growth.

By disease type, the acute paresthesia segment is projected to exhibit the fastest market growth of 4.8% during the forecast period due to the paresthesia treatment market trends like increase in the incidences of acute paresthesia and expected launch of pipeline immunotherapies.

By treatment, The antivirals segment is projected to exhibit the fastest market growth of 4.5% during the forecast period, owing to rise in geriatric population, increase in study of usage of antivirals in teatment of paresthesia, and surge in efficacy of medicines & advantages related to the its usage.

By distribution channel, the online pharmacy segment is projected to exhibit the fastest market growth of 5.5% during the forecast period, owing to rise in preference of the people for buying the products from online platforms at the comfort of their home.

Asia-Pacific region is expected to grow with the highest CAGR, owing to increase in number of affected population and rise in awareness related to different types of paresthesia.

KEY FINDINGS OF STUDY

• By disease type, the chronic paresthesia segment accounted for major paresthesia treatment market share in 2021.
• By treatment, the antivirals segment is anticipated to grow with the highest CAGR throughout the forecast period.
• By distribution channel, retail pharmacy segment occupied major share of the paresthesia treatment industry in 2021.
• Asia-Pacific is anticipated to grow at the highest rate during the paresthesia treatment market forecast period.