Sacral Nerve Stimulation Market to Reach $702.1 Million, Globally, by 2032 at 5.2% CAGR: Allied Market Research

The global sacral nerve stimulation market is experiencing substantial market growth due to factors such as an increase in the prevalence of urological incontinence, technological advancements in sacral nerve stimulation devices, and availability of medical reimbursement schemes. 

PORTLAND, Ore., Sept. 21, 2023 /PRNewswire/ -- 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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Sacral nerve stimulation (SNS) was initially developed as a treatment for individuals with bladder control issues (e.g., inability to feel the bladder fill or having little warning of passing water). Since then, SNS has been used to treat urinary incontinence, including bowel incontinence, as well as constipation. In some cases, SNS may also be used to treat pelvic pain on an individual level. 

Prime Determinants of Growth: 

The global sacral nerve stimulation market is experiencing substantial growth due to factors such as an increase in the prevalence of urological incontinence, technological advancements in sacral nerve stimulation devices, and availability of medical reimbursement schemes. However, the high cost of sacral nerve stimulation procedures presents a significant challenge and hampers market growth. On the contrary, the growing healthcare infrastructure and adoption of strategies by key manufacturers are expected to offer remunerative opportunities for expansion of the sacral nerve stimulation market during the forecast period. 

Report Coverage & Details: 

 

Impact of Covid-19 on Sacral Nerve Stimulation Market: 

• The outbreak of the COVID-19 pandemic had a negative impact on the global sacral nerve stimulation industry along with several other healthcare sectors. Due to the subsequent global lockdowns, the sacral nerve stimulation market faced a downturn. 
• However, as the global situation has recovered back to normalcy, the rise in the number of surgeries resumed. This has resulted in various growth opportunities for companies operating in the sacral nerve stimulation market. 

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The devices segment to maintain its leadership status throughout the forecast period- 

Based on product type, the devices segment held the highest market share in 2022, accounting for around four- fifths of the global Sacral nerve stimulation market revenue, and is estimated to maintain its leadership status throughout the forecast period. The same segment would also cite the highest CAGR of 5.7% during the forecast period. owing to availability of sacral nerve stimulation devices and rise in R&D activities focusing on advancing the stimulators. In addition, increasing adoption of sacral nerve stimulation devices by healthcare professionals further drives the market growth. 

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

Based on application, the urinary and fecal incontinence segment held the largest market share in 2022, contributing to more than half of the global sacral nerve stimulation market revenue, and is estimated to maintain its lead position during the forecast period. This is due to the increasing prevalence of conditions such as obstetric trauma, voiding dysfunction, interstitial cystitis, and fecal impaction. These conditions lead to disruptions in bladder and bowel control, resulting in urinary and fecal incontinence. Thus, demanding a targeted approach to address the underlying nerve dysfunction associated with these conditions. However, the chronic anal fissure segment is projected to manifest the highest CAGR of 9.9% from 2023 to 2032. This is due to the increasing 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 associated symptoms.   

The hospital segment to rule the roost by 2032- 

Based on end user, the hospital segment held the largest market share in 2022, accounting for nearly two-thirds of the global sacral nerve stimulation market revenue, and is projected to rule the roost by 2032. This is due to the availability and access to specialized healthcare professionals, advanced medical technologies & infrastructure, and strong relationships with insurance providers, thus resulting in the adoption of sacral nerve stimulation therapy. However, the specialty clinics segment is projected to manifest the highest CAGR of 7.4% from 2023 to 2032. Owing to specialized clinical settings offering targeted care and expertise in treating urological incontinence conditions. Patients seeking tailored solutions are likely to opt for these clinics, thereby driving their prominence in the sacral nerve stimulation market.   

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North America garnered the major share in 2032- 

Based on region, North America held the major share in 2022, garnering nearly three-fifths of the global sacral nerve stimulation market revenue, and is expected to dominate by 2032. This is attributed to the high prevalence of urological incontinence conditions, the availability of advanced healthcare facilities, and the presence of major players offering sacral nerve stimulation devices. In addition, favorable reimbursement policies in healthcare systems and the rise in the geriatric population are expected to propel the market expansion.  Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 7.5% from 2023 to 2032. Due to the rise in the number of cases of overactive bladder and urinary incontinence conditions, increase in awareness regarding available sacral nerve stimulation treatment devices, and surge in investments for the development of effective sacral nerve stimulation devices. Furthermore, an upsurge in healthcare expenditure in emerging economies is anticipated to offer lucrative opportunities for market expansion.     

Leading Market Players: 

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

The report provides a detailed analysis of these key players of the global sacral nerve stimulation market. These players have adopted different strategies such as product approval, acquisitions, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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