According to the current analysis of Reports and Data, the Global Sacral Neuromodulation Market was valued at USD 2.28 Billion in 2019 and is expected to reach USD 3.3 billion by the year 2027, at a CAGR of 4.94 %. The study covers an in-depth analysis of Sacral Neuromodulation and the treatments to cure it. Overactive bladder symptoms of urgency, frequency, and incontinency are at present, affecting a significant amount of population, especially when age increases. Sacral Neuromodulation (also known as sacral nerve stimulation) has been one of the popular and effective treatment options to cure overactive bladder and bowel problems for more than the last two decades. The main purpose of the Sacral Neuromodulation is to improve the coordination between the bladder/bowel and our brain. One of the proven treatments is sacral neuromodulation via the interstim system. The procedure is divided into two main stages, which include basic evaluation and advanced evaluation. In both evaluations, a portable, external stimulator that generates stimulations is delivered through a lead.
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Several companies are engaged in launching new devices for SNM with minimal pain and side effects. For instance, the launch of smaller implantable neurostimulator Interstim II manufactured by Medtronic has helped to improve the patient’s comfort. It has also made the procedure of the physicians easier and shorter. The patient has to wear the stimulator throughout the two evaluations. The basic evaluation includes a simple, in-office procedure, whereas the advanced evaluation is performed in hospitals, clinics, surgical centers. The global market is propelled by various factors such as increasing geriatric, rise in the neurological diseases, and failure of conventional treatments (exercise, changes in lifestyle, diet) to cure SNM. However, adverse effects and complications in some of the SNM treatments are the major hindrances for market growth in 2020-2027.
Further key findings from the report suggest
- North America is the largest revenue-generating region in the global Sacral neuromodulation market. It holds 35.5% of the total market share owing to the technological advancements and rising awareness about SNM. Followed by that, Europe accounts for 31.2% of the overall market share.
- Implantable SNM devices, in comparison to external SNM devices, are a more popular option on the global level. It holds 62.5% of the total market share, whereas External SNM devices hold 33.3% of the total market share.
- Medtronic is the dominating player in manufacturing SNM instruments, devices in the global market. In 2015, Medtronic had net sales worth USD 3.8 billion in neuromodulation. Gastrointestinal and urological devices were the prime factors for the rapid growth of Medtronic.
- Axonics Modulation Technologies acquired investments in SNM worth 38.5 million to extensively study about OAB implants in North America and Europe and is expected to surpass medical device giant Medtronic’s popular and successful Interstim system in the coming future. The Axonics SNM system is compatible, given few precautions, with 1.5 Tesla and 3 Tesla MRI scanners. It is the only SNM system clearing in Europe with such labeling. Axonics ‘s SNM device is rechargeable and also has a guaranteed lifespan of up to 15 years (3 times longer than Medtronic’s Interstim). It is also 60% smaller than the Interstim device.
- Welkin Health, a privately-held patient relationship management software company, has recently announced that it will be collaborating with Axonics Modulation Technologies in finding new solutions for SNM.
- With only a handful of players in the market, there are tremendous opportunities for companies like Axonics to enter in the market.
- Revenue from the sale of SNM devices is estimated to be rise around USD 600 million annually, with nearly 30,000 devices implanted in patients in 2014 alone.
- Revenue for this market was estimated to grow to over USD 1 billion by the end of 2019.
- According to a US-based study, overactive bladder (OAB) symptoms are prevalent in 17% males and 17.9% in female population in US.
- In case of Europe, 16% men and 17.8% women above 40 years of age were estimated to have OAB symptoms in the coming years.
- Associated side effects related to SNM treatments and lack of awareness about Sacral neuromodulation is likely to hinder the market growth during the forecast period.
- Key players in the global market are Cyberonics, St Jude Medicals, Boston Scientific, and Medtronic.
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For the purpose of this study, Reports and Data has segmented the Sacral neuromodulation market on the basis of product, application, and region:
Product (Revenue, USD Million; 2017–2027)
- Implantable SNM devices
- External SNM devices
Application (Revenue, USD Million; 2017–2027)
- Urinary incontinence
- Urge incontinence
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/sacral-neuromodulation-market
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