Sacral Nerve Stimulation Market Updates 2024 : Technological Advancements in Sacral Nerve Stimulation Devices is Driving the Industry to Cross to USD 702.1 Million Revenue by 2032, Report

Market Overview

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.

Originally designed to address bladder control issues such as diminished bladder sensation or lack of warning before urination, sacral nerve stimulation (SNS) has evolved to treat a range of conditions. These include urinary and bowel incontinence, as well as constipation. Additionally, in certain instances, SNS may be employed to alleviate pelvic pain on a personalized basis.

 

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What is Driving Sacral Nerve Stimulation Market ?

The sacral nerve stimulation market is witnessing notable expansion, driven by factors like rising prevalence of urological incontinence, advancements in device technology, and accessible medical reimbursement programs. Nonetheless, the considerable expense associated with sacral nerve stimulation procedures poses a considerable obstacle, impeding market advancement. Conversely, the increasing healthcare infrastructure and strategic initiatives by major manufacturers are anticipated to present lucrative prospects for the sacral nerve stimulation market’s growth in the forecast period.

Key findings of the study

• By product type, the devices segment accounted for the largest share in terms of revenue in 2022, and is expected to register the highest CAGR during the forecast period.
• On the basis of application, the urinary fecal incontinence segment was the major shareholder in terms of revenue in 2022 and is expected to register the highest CAGR during the forecast period.
• Depending on end user, the hospitals segment garnered the largest share in terms of revenue in 2022, and is anticipated to register the highest CAGR during the forecast period.
• Region-wise, North America occupied the largest share in terms of revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

 

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Regional Analysis

In 2022, North America secured the leading share of the global sacral nerve stimulation market revenue, capturing nearly three-fifths, and is projected to maintain its dominance through 2032. This is driven by the high prevalence of urological incontinence, advanced healthcare infrastructure, and the presence of key players offering sacral nerve stimulation devices.

Additionally, favorable reimbursement policies and the aging population contribute to market growth. In contrast, the Asia-Pacific region is poised to witness the fastest compound annual growth rate (CAGR) of 7.5% from 2023 to 2032. This is attributed to the increasing cases of overactive bladder and urinary incontinence, rising awareness about sacral nerve stimulation treatments, and investments in developing effective devices. Moreover, the growth in healthcare spending in emerging economies is expected to present lucrative opportunities for market expansion.

 

Recent Product Approval in Sacral Nerve Stimulation Market 

• In February 2021, Medtronic plc, a global leader in healthcare technology, received approval from the United States Food and Drug Administration (FDA) for expanded MRI labeling of its InterStim II and InterStim Micro sacral neuromodulation (SNM) systems that use SureScan MRI leads. The updated MRI Guidelines allow for a wider range of MRI scan parameters and shorter wait time between MRI scans, thereby improving patient access to MRI exams and adding flexibility for MRI providers.
• In January 2023, Axonics, Inc., a global medical technology company that develops and commercialize novel products for the treatment of bladder and bowel dysfunction, received the U.S. Food and Drug Administration has approval for the company’s fourth-generation rechargeable sacral neuromodulation system-Axonics R20 neurostimulator.

 

Recent Acquisition in Sacral Nerve Stimulation Market

• In April 2023, Axonics, Inc.,a global medical technology company that develops and commercialize novel products for the treatment of bladder and bowel dysfunction,announced the acquisition of a lead placement solution from Radian, LLC that complements Axonics’ existing sacral neuromodulation (SNM) offering.

 

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sacral nerve stimulation market analysis from 2022 to 2032 to identify the prevailing sacral nerve stimulation market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the sacral nerve stimulation market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global sacral nerve stimulation market trends, key players, market segments, application areas, and market growth strategies.

Leading Market Players: 

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

 

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