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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
