Global Sacral Nerve Stimulation Market - 2022-2029

Market Overview

The global sacral nerve stimulation market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 11.2% during the forecast period (2022-2029).

Sacral neuromodulation (SNM) is performed by millions of people with an overactive bladder which is refractory to behavioral modifications or pharmacotherapy. Indications for SNM enclose urinary retention, urgency frequency, urge incontinence, and fecal incontinence.

Market Dynamics

The growing geriatric population, increased market developments, and technological advancements in sacral nerve stimulation devices are boosting the global sacral nerve stimulation market during the forecast period.

The rising geriatric population globally is fueling the global market growth.

Overactive bladder (OAB) is a blend of manifestations that cause urgent and frequent impulses to urinate, the majority of individuals experience incontinence more at night. Overactive bladder is considered typical in people 65 and older. Females may have OAB at a younger age, normally about 45. Disorders or traumas are not the sole threats to incontinence. With the growing age, multiple physical shifts will transpire intrinsically. These modifications impact the body, including the muscles, organs, and nerves that maintain continence. Muscles will lose their strength, some nerves will not perform uup tothe mark, and tissue and organs will lose the little capacity to extend. Thus, with the growing geriatric population, the demand for sacral nerve stimulation will also increase, boosting the global market growth. For instance, according to WHO, the geriatric population accounted for 1 billion in 2020 and is assumed to reach 1.4 billion by 2030. Also, it is estimated that by 2050 the total geriatric population will double the population in 2020, i.e., 2.1 billion. Similarly, the number of individuals aged 80 years or older is anticipated to triple between 2020 and 2050 to surpass 426 million. Therefore, the mentioned data indicates that the growing global geriatric population will drive market growth during the forecast period.

The high cost of devices will hinder global market growth.

However, the high surgery and product costs of sacral nerve stimulation therapy is hindering the growth of the global market. For instance, the average expense of Axonics Therapy, an FDA-approved, clinically verified Sacral Neuromodulation solution to treat urinary and bowel dysfunction, costs between $30,000 and $40,000.

COVID-19 Impact.

The COVID-19 outbreak negatively affected the market since the majority of Non-COVID therapy assistance was halted to make the healthcare centers available for COVID-19 patients and lower the transmission of the SARS-CoV-2 virus. For instance, according to the British Journal of Surgery, about 28.4 million elective surgeries were withdrawn or delayed over 12 weeks because of extreme hospital service upsets. Moreover, according to an article titled "A Global Survey on the Impact of COVID-19 on Urological Services" (2020), outpatient clinics treating women's urinary incontinence, benign scrotal conditions, bladder stone, infertility, benign prostatic hyperplasia, and renal stone was majorly impacted by the pandemic.

Segment Analysis

The implantable SNS segment is predicted to have a high demand during the forecast period (2022-2029).

The implantable SNS segment is expected to grow at a high CAGR throughout the forecast period as new sacral stimulation implant devices are introduced into the market. For instance, in April 2022, the United States Food and Drug Administration (USFDA) granted clearance to the Axonics F15 device, permitting it to be implanted for 15 years to intercept the irregular nerve impulses associated with overactive bladder and fecal incontinence. Also, in 2022, Medtronic plc received approval from the United States Food and Drug Administration (USFDA) for its InterStim X, the next generation of the InterStim portfolio's recharge-free device. The InterStim system is a developed treatment choice and the most personalized system to provide sacral neuromodulation (SNM) therapy. Likewise, in February 2021, Contura introduced its newest SNM system, Bulkamid, to treat stress urinary incontinence (SUI). Bulkamid is considered one of the best-in-class & well-differentiated urethral bulking products for females suffering from stress urinary incontinence. Bulkamid has exhibited exceptional outcomes across clinical trials & practices, therefore illustrating a highly efficient first-line minimally invasive therapy for patients.

Similarly, in August 2020, the United States Food Drug and Administration (USFDA) approved Medtronic's InterStim Micro neurostimulator, and InterStim SureScan MRI leads for treating patients with bladder and bowel control disorders. The InterStim Micro neurostimulator is implied to treat patients with fecal incontinence, overactive bladders, and non-obstructive urinary retention through sacral neuromodulation therapy. Thus, owing to the increased product introduction, the implants segment is expected to dominate the global sacral neurostimulation market throughout the forecast period.

Geographical Analysis

North America is predicted to command the global sacral nerve stimulation market.

The North American sacral nerve stimulation market is estimated to grow at a high CAGR during the forecast period (2022-2029). The growing geriatric population, increased healthcare spending and the presence of a majority of key market players in this region contribute to the dominance of North America over the global sacral nerve stimulation market. For instance, according to the U.S. Census Bureau's latest estimates, more than 50 million people aged 65 and above live in the U.S., accounting for 16.5% of the population. Among other states, Florida has the largest ratio of senior citizens, about 21%, pursued by Maine with 20%. In contrast, Utah has the most inferior ratio of senior citizens, around 10.8%, followed by Alaska, with 11.1%. Also, California has the largest total geriatric population, more than 5.4 million, and after California, Florida has the second highest total geriatric population, at around 4.2 million. With baby boomers aging, state populations are witnessing an upsurge in citizens over 65. Moreover, according to the Centers for Medicare & Medicaid Services, national healthcare spending grew 2.7%, reaching $4.3 trillion in 2021, or $12,914 per person, which accounted for 18.3% of the Gross Domestic Product (GDP).

Furthermore, the presence of key market players such as Medtronic Plc, Boston Scientific Corporation, Jude Medical, Cyberonics, Neuropace, Synapse Biomedical, Uroplasty, Inc, Codman & Shurtleff, Inc, and Axonics Modulation Technologies, Inc., among others holding most of the global market; ensuring the growth of North American sacral nerve stimulation market at a high CAGR in the forecasted period.

Competitive Landscape

The significant players operating in the global sacral nerve stimulation market are Medtronic Plc, Boston Scientific Corporation, Jude Medical, Cyberonics, Neuropace, Synapse Biomedical, Uroplasty, Inc, Codman & Shurtleff, Inc, Laborie, Inc, and Axonics Modulation Technologies, Inc. The key players are embracing various approaches such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the global growth of the medical supplies and equipment market. For instance, In July 2021, Neuspera Medical scored $65M in a series C funding round for a nerve-stimulating implant to treat overactive bladder.

Medtronic, Plc.

Overview:

Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

Product Portfolio:

The product portfolio of Medtronic, Plc. for sacral nerve stimulation contains InterStim systems: The InterStim systems implanted neurostimulators electrically stimulate the sacral nerve and are believed to normalize neural communication between the bladder and brain and between the bowel and brain.

The global sacral nerve stimulation market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.