Sacral Nerve Stimulation Market Predicted to Reach USD 16.6 Billion by 2032 | At a CAGR of 10.3% from 2023 to 2032

Allied Market Research published a report, titled, “Sacral nerve stimulation market by Product type (device and accessories) by application (urinary and fecal incontinence, chronic anal fissure and others) End user (hospitals, specialty clinics, and others): Global Opportunity Analysis and Industry Forecast, 2023–2032.” According to the report, the global sacral nerve stimulation industry was estimated at $422.7 million in 2022 and is anticipated to generate $702.1 million by 2032, witnessing a CAGR of 5.2% from 2023 to 2032.

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Impact of Covid-19 on Sacral Nerve Stimulation Market: 

The global sacral nerve stimulation industry, like many healthcare sectors, experienced adverse effects due to the onset of the COVID-19 pandemic and subsequent global lockdowns. The market witnessed a decline during this period. Nevertheless, with the gradual return to normalcy on a global scale, there has been a resurgence in the number of surgeries, presenting new growth opportunities for companies involved in the sacral nerve stimulation market.

The urinary and fecal incontinence segment to maintain its lead position during the forecast period- 

In 2022, the urinary and fecal incontinence segment emerged as the dominant player in the global sacral nerve stimulation market, contributing over half of the total revenue. It is anticipated to maintain its leading position throughout the forecast period. The prevalence of conditions like obstetric trauma, voiding dysfunction, interstitial cystitis, and fecal impaction has been on the rise, causing disruptions in bladder and bowel control and leading to urinary and fecal incontinence. Addressing the underlying nerve dysfunction associated with these conditions requires a targeted approach, driving the demand for sacral nerve stimulation.

Meanwhile, the chronic anal fissure segment is expected to exhibit the highest Compound Annual Growth Rate (CAGR) of 9.9% from 2023 to 2032. This growth can be attributed to increased awareness of this condition, advancements in medical diagnostics, and the growing adoption of sacral nerve stimulation as an effective therapeutic approach for managing chronic anal fissures and their associated symptoms.

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North America garnered the major share in 2032- 

In 2022, North America dominated the revenue share, primarily due to the high incidence of urological incontinence conditions, the presence of advanced healthcare facilities, and the participation of key industry players offering sacral nerve stimulation devices.

Nevertheless, significant growth is expected in the Asia-Pacific region. This is attributed to the increasing prevalence of overactive bladder and urinary incontinence conditions, a growing awareness of available sacral nerve stimulation treatment devices, and increased investments in the development of effective sacral nerve stimulation devices. Additionally, the rise in healthcare expenditure in emerging economies is poised to create lucrative opportunities for expanding the market.

Leading Market Players: 

• Medtronic PLC
• Beijing PINS Medical Co. Ltd.
• Saluda Medical Pty Ltd.
• Axonics Inc.

 

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