Newark, NJ, March 05, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global sciatica treatment market is expected to grow from USD 11.21 billion in 2018 to USD 22.63 billion by 2026 at a CAGR of 9.69% during the forecast period from 2019-2026.
The market is primarily driven by the growing prevalence of risk factors for sciatica and the development of clonidine micropellet epidural injections in the market. With rising geriatric population, the occurrence of sciatica has surged considerably in recent years across the globe. Several disease conditions including osteoarthritis, lumbar spinal stenosis, spondylolisthesis, and muscle spasms have also resulted in high risks of the prevalence of sciatica. In addition, extra pressure on the spine due to obesity and other health conditions, further resulting into development of sciatica among the patients. As a result, with an increasing number of patients with this health condition and growing awareness among the consumers, driving the growth of sciatica treatment market over the forecast period.
Sciatica occurs when the sciatic nerve is compressed, or pinched. This can be the result of a herniated or bulging disc, a bone spurs, or one of several other conditions. Sciatica pain usually starts from the lower back portion of the body to backwards of the thigh. The symptoms include burning or tingling down the affected leg, weakness or numbness in the affected leg, and constant pain on one side of the rear. Use of drugs prescribed by the doctors and surgical treatment helps to get relief from the pain. Sciatica generally resolves on its own in about 90% of the cases, but sometimes it can result in severe pain which may need medical or surgical intervention.
Global sciatica treatment market is expected to witness rapid growth over the forecast period, owing to increase in safety and success of drug treatment, increasing geriatrics cases and screenings, and rising excruciating pain among peoples are the key driving factors for the sciatica treatment market. Furthermore, increasing incidences of sports injuries, rising awareness about sciatica, and strategic alliances among vendors are some of the factors contributing in the growth of market. The high cost of treatment and several difficulties in the sciatic surgery may limit the growth of market. However, lack of awareness about the disease in the underdeveloped countries is expected to boost the sciatica treatment market over the forecast period.
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Key players operating in the global sciatica treatment market are Endo Pharmaceuticals, AstraZeneca, Novartis AG, Teva Pharmaceutical Industries, Neurotech, Nidd Valley Medical, Omega Laser Systems Ltd., Omron Healthcare, Inc., Sanofi, and Johnson & Johnson Services, Inc. among others. To enhance their market position in the global sciatica treatment market, the key players are now focusing on adopting the strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in October 2016, Omron Healthcare, Inc. announced the launch of Its HEAT Pain Pro TENS device, an over-the-counter medical device that combines soothing heat and TENS (transcutaneous electrical nerve stimulation) technology to relieve acute muscle and joint pain.
The drug treatment segment held the highest market share of 61.11% in 2018
Treatment type segment covers non-drug treatment and drug treatment. The drug treatment segment is further divided into steroids, painkillers, antidepressants, muscle relaxants, and anesthetics. The non-drug treatment segment is further classified into acupuncture, stimulation device, and physiotherapy. The drug treatment segment held the highest market share of 61.11% in 2018, owing to the ease of consumption, safer to handle, and easy availability.
The hospitals segment is anticipated to grow with the highest CAGR of 9.71% during the forecast period
End user segment is divided into surgical centers, hospitals, and others. The hospitals segment is anticipated to grow with the highest CAGR of 9.71% during the forecast period, owing to hospitals having good reimbursement rate and availability of skilled doctors and surgeons.
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Regional Segment Analysis of the Sciatica Treatment Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global sciatica treatment market with highest market share whereas the Asia Pacific region held the second dominant position in the market. North America accounted for 41.38% in 2018. High expenditure on the healthcare especially of the U.S. and Canada awareness about the diseases, and rapid technological advancements are some of the factors that led to the growth of sciatica treatment market in North America region. In addition to this, presence of number of key players in the North America region, further driving the growth of market. The Asia Pacific region is the second fastest growing region due to increase in prevalence of the disease, developing healthcare sector, and economic growth. Moreover, increasing geriatric population in the Japan, contributing in the demand for sciatica treatment, fuelling the growth of market in the Asia Pacific region. Europe is anticipated to hold the significant market share in the global sciatica treatment market, owing to growing medical devices industry and healthcare penetration. Countries such as Germany, France, and UK are some of the prominent companies in the Europe for sciatica treatment market.
About the report:
The global sciatica treatment market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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