December 8, 2024
Sacral Nerve Stimulation Market

The Global Sacral Nerve Stimulation Market is driven by increasing prevalence of overactive bladder symptoms

Sacral nerve stimulation therapy involves the use of a small medical device that is surgically implanted in the lower back and connected to the sacral nerve roots to help control symptoms associated with overactive bladder. Overactive bladder causes involuntary bladder contractions that can lead to frequent urination or urge incontinence. The condition affects a large number of people globally and has notable effects on quality of life. As such, there is high demand for effective treatment options like sacral nerve stimulation. The global sacral nerve stimulation market provides a minimally invasive treatment approach that helps improve bladder control and reduce symptoms for patients suffering from overactive bladder conditions.

The global Sacral Nerve Stimulation Market is estimated to be valued at US$ 444.7 Mn 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.

Market key trends:
Technological advancements are allowing for more innovative sacral nerve stimulation devices to enter the market. Manufacturers are focusing on developments that can enhance efficacy, facilitate minimally invasive implantation procedures, and reduce device replacement needs over time. For instance, Medtronic’s InterStim Micro neurostimulator received FDA approval in 2021 and is around 30% smaller than previous devices. Its size makes implantation through small incisions possible. StimWave Technologies is developing a transcutaneous, non-implanted sacral nerve stimulator device to avoid the risks of surgical implantation. Advancements aim to improve patient outcomes and quality of life while also appealing to more customers by addressing current system limitations. This is expected to positively influence market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the global sacral nerve stimulation market is low as it requires high R&D investments and well-established distribution channels.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are no major differences between products offered by various players.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of a large number of component suppliers in the market.
Threat of new substitutes: There is no major threat from substitutes as sacral nerve stimulation offers effective treatment for urinary incontinence and fecal incontinence.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of global and local players offering technologically advanced sacral nerve stimulation devices.

Key Takeaways
The Global Sacral Nerve Stimulation Market Demand is expected to witness high growth over the forecast period.

Regional analysis: Europe is estimated to witness significant growth in the sacral nerve stimulation market owing to rising awareness regarding urinary and fecal incontinence treatment and favorable reimbursement policies in the region.

Key players: Key players operating in the global sacral nerve stimulation market are Medtronic plc., Boston Scientific Corporation, Nevro Corp, StimWave Technologies Inc., and Axonics, Inc. Synapse Biomedical, Uroplasty, St. Jude Medical, Cogentix Medical. Medtronic and Boston Scientific capture majority of the market share due to their robust product portfolio and strong geographical presence across the globe.

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

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →