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Global Sacral Nerve Stimulation Market Size to worth $634.1 million by 2030, growing at a CAGR of 6%, says Coherent Market Insights
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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.
• Promotion and marketing activities by suppliers
• Stringent regulations for product approval
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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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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.
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.
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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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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View original content: https://www.prnewswire.co.uk/news-releases/global-sacral-nerve-stimulation-market-size-to-worth-634-1-million-by-2030--growing-at-a-cagr-of-6-says-coherent-market-insights-302191773.html