BURLINGAME, Calif.,
July 9, 2024 /PRNewswire/ -- The
global Sacral Nerve Stimulation Market, valued at
$422.7 million in 2023, is on a
trajectory of rapid expansion, with projections indicating it will
soar to $634.1million by 2030,
growing at a compound annual growth rate (CAGR) of 6% from 2023 to
2030, as per a recent report by Coherent Market Insights. Owing to
various advantages offered by minimally invasive procedures such as
lesser pain, reduced risk of infection, shorter recovery time, and
minimal scarring, there has been a significant increase in their
adoption across various clinical applications over the recent past.
Sacral nerve stimulation is a minimally invasive procedure
requiring only a small incision to place the electrode lead in the
sacral foramen.
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Market Dynamics:
The global sacral nerve stimulation market is witnessing
significant growth due to increasing prevalence of overactive
bladder and urge incontinence globally. According to the National
Association for Continence, over 25 million Americans experience
overactive bladder which is a progressive disease and more than 50%
of the Americans between ages of 40 to 60 years are affected by
overactive bladder. Further, rise in geriatric population and surge
in obesity rates globally are also contributing to the increasing
burden of overactive bladder. Obesity is one of the major risk
factors for overactive bladder as it puts extra pressure on the
bladder leading to improper bladder functioning.
Global Sacral Nerve Stimulation Market Report
Coverage
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$17.61 million
|
Estimated Value by
2030
|
$36.38 million
|
Growth
Rate
|
Poised to grow at a
CAGR of 6%
|
Historical
Data
|
2018–2021
|
Forecast
Period
|
2023–2030
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Form, By
Distribution Channel
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Growth
Drivers
|
• Increasing health and
fitness awareness
• Growing inclination
towards weight management and weight loss
• Promotion and
marketing activities by suppliers
|
Restraints &
Challenges
|
• High cost associated
with branded supplement
• Concerns regarding
product safety and side effects
• Stringent regulations
for product approval
|
Market Trends:
Rise in demand for minimally invasive procedures for urinary
incontinence and development of novel stimulation devices are major
market trends in global sacral nerve stimulation market. Minimally
invasive procedures such as sacral nerve stimulation are often
preferred over conventional surgical procedures due to benefits
such as lesser pain, minimal scarring and faster recovery time.
Further, introduction of technology advances such as recently
launced tined leads for sacral nerve stimulation by Medtronic and
Axonics which improve patient comfort and minimize complications
are strengthening the market growth.
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Market Opportunities:
The implantable SNS devices segment is expected to remain the
most dominant segment over the forecast period owing to rising
preference for permanent solutions to treat urinary incontinence
and fecal incontinence. These devices provide long lasting
treatment effects without requiring repeat surgery.
The external SNS devices segment is expected to witness
lucrative growth owing to their advantage of being non-invasive and
offering patients and physicians the option to trial therapy before
committing to implantable devices. This reduces healthcare costs
and helps higher patient acceptance rates.
Key Market Takeaways:
The global sacral nerve stimulation market is anticipated to
witness a CAGR of 6% during the forecast period 2023-2030, owing to
rising geriatric population and increasing prevalence of urinary
incontinence and fecal incontinence.
On the basis of product type, the implantable SNS devices
segment is expected to hold a dominant position, owing to long
lasting treatment effects without requiring repeat surgery.
On the basis of application, the urinary and fecal incontinence
segment is expected to hold a dominant position over the forecast
period, due to high prevalence of these conditions worldwide.
On the basis of region, North
America is expected to hold a dominant position over the
forecast period, due to supportive reimbursement policies and high
awareness about SNS therapy.
Key players operating in the global sacral nerve stimulation
market include Medtronic plc., Boston Scientific Corporation, Nervo
Corp, Stimwave Technologies Inc., Axonisc, Inc., Synapse
Biomedical, Uroplastry, St. Jude Medical, Congentix Medical, and
others. These players are focused on developing advanced
therapeutics to strengthen their market position.
Recent Developments:
In February 2022, Medtronic plc,
announced that it received approval from the US. Food and Drug
Administration for InterStim X the next generation of the InterStim
system portfolio's recharge-free device- and it is available
immediately.
In January 2023, Axonics, Inc, is
developing and commercializing novel products for the treatment of
bladder and bowel dysfunction, announced that the U.S. Food and
Drug Administration has approved the company's fourth-generation
rechargeable sacral neuromodulation system.
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Detailed Segmentation:
By Product Type:
- Implantable SNS Devices
- External SNS Devices
- Accessories
By Application:
- Urinary and Fecal Incontinence
- Chronic Pain
- Others
By End User:
- Hospital
- Clinics
- Ambulatory Surgery Centers
By Region:
North America:
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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