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.
Request Sample of the Report on Sacral Nerve Stimulation Market Forecast 2032- https://www.alliedmarketresearch.com/request-sample/3861
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:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $422.7 Million |
Market Size in 2032 | $702.1 Million |
CAGR | 5.2 % |
No. of Pages in Report | 226 |
Segments Covered | Product, Application, End user,?and Region |
Drivers | Increase in the prevalence of urological incontinence |
Technological advancements in sacral nerve stimulation devices | |
Availability of medical reimbursement schemes | |
Opportunities | Growth opportunities in emerging markets |
Restraints | High cost and side effects of sacral nerve stimulation |
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.
Want to Explore More, Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/3861
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.
For Purchase Inquiry- https://www.alliedmarketresearch.com/purchase-enquiry/3861
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.
Comprehensive Healthcare Industry Research Studies:
Diabetes Care Devices Market - Opportunity Analysis and Industry Forecast, 2022-2032
Glaucoma Surgery Devices Market- Opportunity Analysis and Industry Forecast, 2022-2032
Gynecological Cancer Drugs Market- Global Opportunity Analysis and Industry Forecast, 2022-2032
Electrocardiograph (ECG) Market- Global Opportunity Analysis and Industry Forecast, 2022-2032
Surgical Scissors Market - Global Opportunity Analysis and Industry Forecast, 2022-2032
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Allied Market Research:
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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/sacral-nerve-stimulation-market-to-reach-702-1-million-globally-by-2032-at-5-2-cagr-allied-market-research-301935020.html
