Allied Market Research has published a report titled: “Sacral nerve stimulation market By product type (devices and accessories) By application (urinary incontinence, fecal incontinence, chronic anal fissures, etc.) End users (hospitals, specialty clinics, etc.): Global opportunity analysis and industry forecasts, 2023-2032. ” According to the report, the global sacral nerve stimulation industry is estimated at $422.7 million in 2022 and is expected to generate $702.1 million by 2032, growing by 5.2% from 2023 to 2032. You can see the CAGR.
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Impact of COVID-19 on the sacral nerve stimulation market:
The global sacral neurostimulation industry, like many medical sectors, experienced a negative impact due to the outbreak of the coronavirus disease (COVID-19) pandemic and the subsequent global lockdown. During this period, the market declined. Nevertheless, as the world is gradually returning to normalcy, the number of surgeries is once again on the rise, creating new growth opportunities for companies involved in the sacral nerve stimulation market.
The urinary and fecal incontinence segment will maintain its leading position during the forecast period.
In 2022, the urinary and fecal incontinence segment emerged as the dominant player in the global sacral nerve stimulation market, contributing more than half of the total revenue. It is expected to maintain its leading position throughout the forecast period. The prevalence of diseases such as obstetric trauma, urinary dysfunction, interstitial cystitis, and fecal impaction is increasing, leading to disorders of bladder and bowel control, leading to urinary and fecal incontinence. Addressing the underlying neurological dysfunction associated with these symptoms requires a targeted approach, increasing the demand for sacral nerve stimulation.
Meanwhile, the chronic cleft segment is expected to exhibit the highest compound annual growth rate (CAGR) of 9.9% from 2023 to 2032. This growth can be attributed to increased awareness of the disease, advances in medical diagnosis, and increased introduction of anal diseases. Sacral nerve stimulation as an effective treatment for managing chronic anal fissures and related symptoms.
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North America will gain a large share in 2032 –
In 2022, North America dominated the revenue share. This is mainly due to the high incidence of urinary incontinence conditions, presence of sophisticated medical facilities, and participation of major industry companies offering Sacral Nerve Stimulator.
Nevertheless, significant growth is expected in the Asia-Pacific region. This can be attributed to the increased prevalence of overactive bladder and urinary incontinence, increased awareness of available sacral nerve stimulation therapy devices, and increased investment in the development of effective sacral nerve stimulation devices. Additionally, rising healthcare costs in emerging countries are creating lucrative opportunities to expand the market.
Key market players:
- Medtronic PLC
- Beijing PINS Medical Co., Ltd.
- Saluda Medical Pty Ltd.
- Axonics Co., Ltd.
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