Global Sacral Nerve Stimulation Market is estimated to be valued at US$ 444.7 million in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Sacral nerve stimulation aids in the treatment of bladder control problems and bowel control problems such as overactive bladder, fecal incontinence, and urinary retention through use of small devices placed in the lower back which modulates nerve impulses. The rising geriatric population who are more prone to such medical conditions is driving the demand for sacral nerve stimulators.
Market key trends:
The rising geriatric population across the globe has been a key factor propelling the growth of the global sacral nerve stimulation market. As per the United Nations statistics, the population over the age of 60 years is projected to grow from 962 million globally in 2017 to 2.1 billion in 2050. The aging population is more susceptible to medical conditions such as urinary incontinence and fecal incontinence which can be treated using sacral nerve stimulators. According to the National Association for Incontinence, more than 25 million Americans experience bladder control issues and over 33% of women over the age of 18 experience bladder control issues. Hence, the growing prevalence of bladder and bowel control problems among geriatric population is expected to drive the demand for sacral nerve stimulators over the forecast period.
SWOT Analysis
Strength: Global Sacral Nerve Stimulation has strong potential to treat Overactive Bladder and Fecal Incontinence with advancements in novel techniques like Percutaneous Tibial Nerve Stimulation. It offers minimally invasive solutions with faster recovery times compared to alternative treatments.
Weakness: High costs associated with devices, surgery and long-term therapy can limit uptake among users. Clinical evidence and patient acceptance is still evolving for some newer applications of Sacral Nerve Stimulation.
Opportunity: Growing geriatric population vulnerable to urological conditions indicate strong market prospects over the next decade. New reimbursement policies and adoption across developing regions can further support market growth going ahead.
Threats: Presence of alternative treatment modalities like drugs, botulinum toxin injections pose competition. Strict regulations and lengthy approval process for new models/applications can impact timely market access.
Key Takeaways
The Global Sacral Nerve Stimulation Market Demand is expected to witness high growth over the forecast period from 2024 to 2031 with a CAGR of 5.2%.
Regional analysis: North America is expected to dominate the global Sacral Nerve Stimulation market led by the US. Favorable reimbursement coverage along with strong demand for advanced devices from urology clinics are driving market revenues in the region. Europe is anticipated to emerge as the second largest Sacral Nerve Stimulation market supported by growing awareness and new product launches. Asia Pacific is likely to showcase high growth fueled by increasing healthcare investments, expanding patient pool and changing reimbursement landscape in major countries like China and India.
Key players operating in the Sacral Nerve Stimulation market are Medtronic plc, Boston Scientific Corporation, Nevro Corp, StimWave Technologies Inc., Axonics, Inc., Synapse Biomedical and Uroplasty. Medtronic plc. is one of the leading player with wide portfolio of InterStim devices dominating the global sales. Boston Scientific Corporation and Nevro Corp are other prominent companies offering novel neuromodulation platforms for urological conditions.
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Sacral Nerve Stimulation Market Growth Accelerated by Rising Prevalence of Overactive Bladder Disorder
Sacral nerve stimulation is a treatment option for overactive bladder disorders that involves implanting a small medical device called a neurostimulator to stimulate the sacral nerves and restore control of the bladder. The devices help improve symptoms like urgent need to urinate, frequency, and urge incontinence associated with overactive bladder. Rising prevalence of overactive bladder disorders driven by factors like aging population, obesity, and diabetes is increasing the need for minimally invasive treatment options like sacral nerve stimulation. The global Sacral Nerve Stimulation Market is estimated to be valued at US$ 444.7 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend fueling growth in the global sacral nerve stimulation market is rising adoption of minimally invasive procedures over conventional bladder surgery. Sacral nerve stimulation offers notable advantages like faster recovery, lower morbidity risk, and better results compared to surgical alternatives. Technological advancements are also playing a role with companies introducing recharge-free and magnet-less neurostimulators to overcome past device limitations and improve patient comfort and compliance. Expanding applications of sacral nerve stimulation beyond overactive bladder into new areas like fecal incontinence and chronic pelvic pain will further expand the market opportunity over the forecast period.
Segment Analysis
The global sacral nerve stimulation market is dominated by the implantable sacral nerve stimulators sub segment. This is because implantable devices offer long term relief from urinary and fecal incontinence as compared to external devices which need to be connected through wires. Implantable devices also have better patient compliance and acceptance.
Key Takeaways
The Global Sacral Nerve Stimulation Market Demand is expected to witness high growth over the forecast period owing to rising geriatric population suffering from urinary incontinence and fecal incontinence.
Regional analysis: North America currently dominates the global sacral nerve stimulation market due to growing awareness about new treatment options for urinary incontinence and favorable reimbursement policies. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising medical tourism, growing healthcare investments and increasing focus of key players in countries like China and India.
Key players operating in the global sacral nerve stimulation market are Medtronic plc, Boston Scientific Corporation, Nevro Corp, StimWave Technologies Inc., Axonics, Inc. and Synapse Biomedical. Medtronic plc currently leads the global market owing to its wide product portfolio and robust geographic presence across the globe.
For more details on the report, Read- https://www.trendingwebwire.com/sacral-nerve-stimulation-market-growth-demand-and-overview/
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