According to the current analysis of Reports and Data, the global Sacral Nerve Stimulation Market was valued at USD 2,432.9 Million in 2020 and is expected to reach USD 3,498.2 Million by year 2028, at a CAGR of 4.94 %. The study covers in-depth analysis of Sacral Nerve Stimulation and the treatments to cure it. Overactive bladder symptoms of urgency, frequency and incontinency is at present affecting a significant amount of population, especially when age increases. Sacral Nerve Stimulation (also known as sacral nerve stimulation) has been one of the popular and effective treatment options to cure overactive bladder and bowel problems for more than last 2 decades. The main purpose of the Sacral Neuro modulation is to improve the coordination between bladder/bowel and our brain. One of the proven treatments include Sacral Nerve Stimulation via the interstim system. The procedure is divided into two main stages which include basic evaluation and advanced evaluation. In both the evaluations a portable, external stimulator which generates stimulations is delivered through a lead.
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Further key findings from the report suggest
- North America is the largest revenue generating region in the global Sacral Nerve Stimulation market. It holds 35.5% of the total market share owing to the technological advancements and rising awareness about SNM. Followed by that, Europe accounts for 31.2% of the total market share.
- Implantable SNM devices in comparison to external SNM devices is a more popular option on a global level. It holds 62.5% of the total market share whereas External SNM device holds 33.3% of the total market share.
- Medtronic is the dominating player in manufacturing SNM instruments, devices in the global market. In 2015, Medtronic had net sales worth USD 3.8 billion in neuromodulation. Gastrointestinal and urological devices were the prime factors for the rapid growth of Medtronic.
- Axonics Modulation Technologies acquired investments in SNM worth 38.5 million to extensively study about OAB implants in North America and Europe and is expected to surpass medical device giant Medtronic’s popular and successful Interstim system in the coming future. The Axonics SNM system is compatible, given few precautions, with 1.5 Tesla and 3 Tesla MRI scanners. It is the only SNM system clearing in Europe with such labelling. Axonics ‘s SNM device is rechargeable and also has a guaranteed lifetime up to 15 years (3 times longer than Medtronic’s Interstim). It is also 60% smaller than Interstim device.
- Welkin Health, a privately-held patient relationship management software company has recently announced that it will be collaborating with Axonics Modulation Technologies in finding new solutions for SNM.
- With only a handful of players in the market, there are tremendous opportunities for companies like Axonics to enter in the market.
- Revenue from the sale of SNM devices is estimated to be rise around USD 600 million annually with nearly 30,000 devices implanted in patients in 2014 alone.
- Revenue for this market is estimates to grow to over USD1 billion by the end of 2019.
- According to a US-based study, overactive bladder (OAB) symptoms are prevalent in 17% males and 17.9% in female population in US.
- In case of Europe, 16% men and 17.8% women above 40 years of age were estimated to have OAB symptoms in the coming years.
- Associated side effects related to SNM treatments and lack of awareness about Sacral Nerve Stimulation is likely to hinder the market growth during the forecast period.
Competitive Outlook of the Global Sacral Nerve Stimulation Market
The globla Sacral Nerve Stimulation market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Sacral Nerve Stimulation market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Cyberonics, St Jude Medicals, Boston Scientific, Medtronic.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Sacral Nerve Stimulation Market Segmentation:
Product (Revenue, USD Million; 2020–2028)
- Implantable SNM devices
- External SNM devices
Application (Revenue, USD Million; 2020–2028)
- Urinary incontinence
- Urge incontinence
Geographic Segment Covered in the Report:
The Sacral Nerve Stimulation report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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