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A03518 | Pages: 226 | Charts: 52 | Tables: 103 |
The global sacral nerve stimulation market size was valued at $422.7 million in 2022, and is projected to reach $702.1 million by 2032, growing at a CAGR of 5.2% from 2023 to 2032. Sacral nerve stimulation is a medical procedure where a small device, called a neurostimulator, is implanted under the skin to deliver controlled electrical stimulation to the sacral nerves. These nerves are crucial for regulating bladder and bowel function. The neurostimulator is connected to electrodes placed near the sacral nerves, allowing it to modulate nerve activity and improve symptoms associated with conditions like urinary and fecal incontinence.
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Market Dynamics
The major factors driving the sacral nerve stimulation market growth are increase in prevalence of urological conditions such as Urinary and Fecal Incontinence, Chronic Anal Fissure and Overactive bladder syndrome, surge in aging population, technological advancements, and rise in awareness about sacral nerve stimulation industry. Urinary incontinence is a common condition that affects millions of people worldwide. For instance, according to report of American Urological Association, quarter to a third of men and women in the U.S. suffer from urinary incontinence. That means about 33 million have overactive bladder representing symptoms of urgency. Thus, rise in prevalence of urological incontinence’s is driving the demand for sacral nerve stimulation as they serve as an effective treatment for this condition.
Further, aging population is increasing globally, which is driving the demand for sacral nerve stimulation. As people age, they are more likely to develop incontinence and other conditions that require the use of sacral nerve stimulation. In addition, aging can lead to bladder and pelvic floor muscles weaken, leading to a higher likelihood of urinary incontinence
Moreover, technological advancements in sacral nerve stimulation are driving the growth of the market. New devices are being developed with advanced features such as wireless connectivity, longer battery life, and improved programming. These advancements are improving patient outcomes and increasing the adoption of sacral nerve stimulation industry.
Furthermore, Innovations in the medical device industry and receival of approvals to cater to the unmet medical needs of massive pool of target population are expected to create lucrative opportunities for the expansion of the sacral nerve stimulation market forecast. For instance, in February 2022, Medtronic plc, a global leader in healthcare technology, received approval from the U.S. Food and Drug Administration (FDA) for InterStim X the next generation of the InterStim portfolio's recharge-free device – and it is available immediately. InterStim systems are the standard of care in advanced therapy options, and the most personalized system, to deliver sacral neuromodulation (SNM) therapy.
Further, increase in awareness of sacral nerve stimulation among patients and healthcare providers is expected to propel the market. Patients are becoming more aware of the benefits of these devices, and healthcare providers are recommending them as a viable treatment option for urological incontinence conditions.
In addition, availability of favorable reimbursement policies is boosting the growth of the sacral nerve stimulation market. Many governments and insurance companies are providing reimbursement for sacral nerve stimulation, making them more affordable for patients. This is increasing the adoption of these devices and driving the growth of the market.
However, sacral nerve stimulation are relatively expensive, which may limit their adoption among patients who cannot afford them or healthcare systems with limited budgets. Further, as with any surgical procedure, there is a risk of complications associated with the implantation of sacral nerve stimulation. These complications can include infection, bleeding, and nerve damage.
The demand for medical devices remains relatively stable even during economic downturns as they are necessary for diagnosing, treating, and monitoring health conditions. In addition, surge in aging population and the prevalence of urinary incontience, overactive bladder and others further supports the sustained demand for medical device such as sacral nerve stimulator.
Furthermore, technological advancements in the medical device industry also contribute to its ability to withstand recessions. Continued innovation leads to the development of new devices that improve patient outcomes, enhance efficiency, and reduce healthcare costs. However, various medical technology companies delaying capital expenditures, such as investments in research and development (R&D) due to threat of recession. Thus, fully scaral nerve stimulation market is moderately impacted by the recession.
However, as healthcare systems recover and growing focus on addressing the backlog of delayed incontinence diagnoses and treatments. This recovery is expected to contribute to the long-term growth of the sacral nerve stimulation market.
Moreover, the pandemic has highlighted the importance of healthcare innovation and technology. This has led to increased research and development activities in the medical device industry, including the development of new and innovative sacral nerve stimulation devices. Funding for these activities has also increased as governments and private investors recognize the need for improved devices to address incontinence conditions.
Furthermore, the adoption of telemedicine and remote patient monitoring has accelerated due to the pandemic. This shift towards virtual healthcare delivery has impacted the sacral nerve stimulation market opportunity as well. Remote programming and monitoring of sacral nerve stimulator devices have become more prevalent, allowing healthcare providers to manage patients' conditions without in-person visits. This trend is expected to continue beyond the pandemic, offering convenience and reducing the risk of infectious disease transmission, thus driving market growth in the forecast period.
Segmental Overview
The global sacral nerve stimulation market share is segmented into product, application, end user, and region. On the basis of product, the market is bifurcated into devices and accessories. On the basis of application, it is categorized into urinary fecal incontinence, chronic anal fissure and others (overactive bladder syndrome, urinary frequency). On the basis of end user, it is segregated into hospitals, specialty clinics and others (research centers, ambulatory surgical centers). Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
By Product
On the basis of product ,the devices segment accounted for largest share in 2022 and is expected to register highest CAGR during the forecast period owing to availability of sacral nerve stimulation devices and the rise in research and development activities focusing on advanced stimulators has fueled the growth of the devices segment. In addition, increasing adoption of sacral nerve stimulation devices by healthcare professionals is further driving the market growth.
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By Application
On the basis of application, the urinary fecal incontinence segment accounted for largest share in terms of revenue in 2022 and is expected to register highest CAGR during the forecast period owing to increasing prevalence of conditions such as obstetric trauma, voiding dysfunction, interstitial cystitis, and fecal impaction. These conditions lead to disruptions in bladder and bowel control, resulting in urinary and fecal incontinence. Thus, demanding targeted approach to address the underlying nerve dysfunction associated with these conditions. In addition the growing focus of market key players in development of stimulators for wide application are further driving the segment growth.
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By End User
By end user, the hospitals segment accounted for largest share in terms of revenue in 2022, and is anticipated to register highest CAGR during the forecast period owing to availability and access to specialized healthcare professionals, advanced medical technologies & infrastructure, and strong relationships with insurance providers resulting in adoption of sacral nerve stimulation therapy.
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By Region
North America accounted for the largest share in terms of revenue in 2022 owing to high prevalence of urological incontinence conditions, availability of advanced healthcare facilities, and presence of major players offering sacral nerve stimulation devices. In addition, favorable reimbursement policies in healthcare systems and a rise in geriatric population are expected to propel the market expansion. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in number of cases of overactive bladder and urinary incontinence conditions, increase in awareness regarding available Sacral nerve stimulation treatment devices, and surge in investments for development of effective Sacral nerve stimulation devices. Furthermore, upsurge in healthcare expenditure in emerging economies is anticipated to offer lucrative opportunities for market expansion.
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Moreover, the region has become a hub for sacral nerve stimulation market owing to its large population base, diverse patient pool, and relatively lower costs of sacral nerve stimulation implant surgery compared to developed countries. Furthermore, rise in research activities as well as well-established presence of domestic companies in the region are expected to provide notable opportunities for the market growth. In addition, rise in contract manufacturing organizations within the region provides is expected to open new avenues for the market growth.
Competition Analysis
Competitive analysis and profiles of the major players in the sacral nerve stimulation market such as Medtronic Plc, Beijing PINS Medical Co., Ltd, Saluda Medical Pty Ltd and Axonics, Inc. are provided in this report. Major players have adopted acquisition, product launch and product approval as key developmental strategies to strengthen their foothold in the sacral nerve stimulation market share.
Recent Product Approval in Sacral Nerve Stimulation Market
Recent Acquisition in Sacral Nerve Stimulation Market
Key Market Segments
Key Market Players