Global Sacral Nerve Stimulation Market Size to worth $634.1 million by 2030, growing at a CAGR of 6%, says Coherent Market Insights

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

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:

• U.S.
• Canada

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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About Us:

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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SOURCE Coherent Market Insights