The global sacral nerve stimulation market revenue was around US$ 422.7 million in 2022 and is estimated to reach US$ 702.1 million by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2023 to 2032.
Sacral nerve stimulation is a medical practice where a small device, known as a neurostimulator, is planted under the skin to provide controlled electrical stimulation to the sacral nerves. These nerves are essential for bowel function and regulating the bladder. The neurostimulator is attached to electrodes set near the sacral nerves, letting it modulate nerve activity and enhance symptoms related to conditions like urinary and fecal incontinence.
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Factors Influencing Market Growth
– The aging population is increasing globally, which is propelling the demand for sacral nerve stimulation.
– The rise in awareness of sacral nerve stimulation among healthcare providers and patients is anticipated to drive the growth of the sacral nerve stimulation market.
– The technological improvements in sacral nerve stimulation are propelling the growth of the sacral nerve stimulation market.
– Sacral nerve stimulation is somewhat expensive, which may restrict its adoption among patients who cannot afford it or healthcare systems with fixed budgets.
– Inventions in the medical device industry and the receival of permissions to cater to the unmet medical requirements of a huge collection of target populations are anticipated to create lucrative opportunities for the development of the sacral nerve stimulation market.
Impact of COVID-19
The impact of the COVID-19 pandemic outbreak on the sacral nerve stimulation market had a significant influence, as most non-COVID treatment services were disturbed to secure the healthcare infrastructure for COVID-19-infected patients and reduce the risk of transmission of the SARS-CoV-2 virus.
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In 2022, North America dominated the global sacral nerve stimulation market in terms of revenue because of the availability of advanced healthcare facilities, the high prevalence of urological incontinence conditions, and the presence of major players offering sacral nerve stimulation devices. Also, favorable refund policies in healthcare systems and the rise in the geriatric population are anticipated to drive the growth of the market.
Also, Asia-Pacific is expected to notice notable growth because of the rise in several cases of urinary incontinence and overactive bladder conditions, the surge in investments in the development of effective sacral nerve stimulation devices, and the boost in awareness regarding available sacral nerve stimulation treatment devices. Also, expansion in healthcare expenditure in appearing economies is expected to offer lucrative opportunities for the growth of the market.
The leading prominent companies profiled in the global sacral nerve stimulation market are: –
– Medtronic Plc
– Beijing PINS Medical Co., Ltd
– Saluda Medical Pty Ltd
– Axonics, Inc
– Other prominent key players
The global sacral nerve stimulation market segmentation focuses on Product, Application, End User, and Region.
Segmentation based on Product
Segmentation based on Application
– Urinary and Fecal Incontinence
– Chronic Anal Fissure
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Segmentation based on End User
– Specialty Clinics
Segmentation based on Region
– North America
– The U.S.
– Rest of Europe
– South Korea
– Rest Of Asia-Pacific
– Latin America
– Middle East
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviors, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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