The Sacral Nerve Stimulation Market is expected to register a CAGR of 5.5% over the forecast period.
The impact of COVID-19 outbreak on the sacral nerve stimulation market is expected to be significant as most of the Non-COVID treatment services were disrupted, to reserve the healthcare infrastructure for COVID-19 infected patients, and to minimize the risk of transmission of the SARS-CoV-2 virus. According to the study published in the British Journal of Surgery, in May 2020, based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed in 2020. Additionally, according to a 2020 research study by Jeremy Yuen-Chun Teoh et al., titled " A Global Survey on the Impact of COVID-19 on Urological Services", globally, outpatient clinics for female urinary incontinence, benign prostatic hyperplasia, infertility and sexual medicine, benign scrotal conditions, renal stone, and bladder stone were most affected. Also, a delay of urological services for more then 8 weeks was reported for 28% of outpatient clinics, 30% of outpatient investigations and procedures and 31% of urological surgeries during the COVID-19 pandemic. Hence, in view of the mentioned facts, the studied market is predicted to be impacted during the COVID-19 pandemic era.
The rising prevalence of overactive bladder conditions and increasing incidence of urge incontinence such as Urinary tract infection (UTI) is the major driver for the growth of the Sacral Nerve Stimulation market. Also, the growing incidences of fecal incontinence and the availability of medical reimbursements are some other factors fueling the studied market growth. As per the article published in the Indian Journal of Community Medicine 2019, the prevalence of urinary incontinence in post-menopausal women age 45-90 was around 26.47 %. Besides, urinary incontinence has a huge impact on social and mental health. The sacral nerve stimulation will help in enhancing the quality of life of the affected population.
Furthermore, the prevalence of urinary incontinence is more in women than in men. For instance, according to a research study by Sedighe Batmani et al., published in BMC Geriatrics Journal March 2021, the study results found that the highest prevalence of urinary incontinence was reported in older adult women in Asia with 45.1%. Some of the factors influencing the incidence of urinary incontinence in older women are women's age, obesity, diabetes, women's education, hypertension, and smoking. Thus, growing incidences of the target patient pool will surge demand for treatment and promote the sacral nerve stimulation market in the coming years. Furthermore, the rising geriatric population globally, growing research investments, and technological advancements associated with the development of novel medical devices are expected to drive the sacral nerve stimulation market over the forecast period.
Key Market Trends
Sacral Nerve Stimulation in Urinary and Fecal Incontinence Segment is Estimated to Witness a Healthy Growth in Future.
The growth of the urinary and fecal incontinence segment is estimated to register significant growth in the future attributing to the growing prevalence of patients suffering urinary tract infection (UTI), anal sphincter injuries, and overactive bladder. According to the research article published in Therapeutic Advances in Urology, 2019, Urinary tract infections (UTIs) are the most common outpatient infections, with the prevalence of UTI was significant among the elderly population and the prevalence of UTIs in women aged 65 years and above was estimated as 205 whereas it was 11% in the overall population. These populations are expected to create a demand for treatment and thus drive the segment growth. Moreover, the rising number of populations suffering from constipation and pelvic pain is also anticipated to boost the segment growth.
Also, the National Center for Biotechnology Information (NCBI) in an article titled "Urinary incontinence in postmenopausal women, 2019, stated that there was a rise in the incidence of various diseases such as Parkinson's disease, diabetes, multiple sclerosis, etc. globally which may lead to increased prevalence of urinary incontinence in males and females, which in turn is expected to increase demand for urinary incontinence treatment devices over the forecast period. Furthermore, the growing trend of research and development activities by the key players and the increasing product approvals is anticipated to aid in the growth of the segment growth. For instance, in Aug 2020, Medtronic's InterStim Micro neurostimulator and InterStim SureScan MRI leads were approved by US FDA for the treatment of patients with bladder and bowel control conditions. The InterStim Micro neurostimulator is indicated for the treatment of patients with overactive bladder, fecal incontinence, and non-obstructive urinary retention through sacral neuromodulation therapy. Thus, owing to the aforementioned factors, the studied segment is expected to witness significant growth over the forecast period.
North America Holds a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the Sacral Nerve Stimulation Market due to the rising prevalence of overactive bladder conditions (OAB) and urge incontinence, growing awareness about the availability of treatment, and increasing adoption of technologically advanced medical devices such as implantable SNS device. Furthermore, well-established infrastructure, growing healthcare expenditure, and favorable reimbursement policies for these devices and treatment procedures are also expected to fuel the Sacral Nerve Stimulation Market in this region.
Additionally, the increasing geriatric population, and the growing demand for minimally invasive surgeries aids in the growth of the studied market in North America. As per the Population Reference Bureau's Population Bulletin, "Aging in United States", the American population aged 65 and older was predicted to nearly double from 52 million in 2018 to 95 million by 2060. The prevalence of urinary incontinence is generally found to increase with aging, and thus, the growing geriatric population is expected to drive the growth of the studied market in the coming years in North America. Additionally, as per the article published in February 2021 "Cross-sectional Study of Prevalence and Correlates of Urinary Incontinence (UI) in Older Home-Care Clients With Type 2 Diabetes in Ontario, Canada", among 118,519 older adults with diabetes, 39,945 (33.7%) had daily or multiple daily episodes of UI. Also, as per the article published in Medscape in June 2021, Urinary incontinence has been estimated to affect 10-13 million people in the United States. Thus, the growing burden of urinary incontinence in the region is one of the major drivers for the healthy growth of the studied market over the forecast period.
The Sacral Nerve Stimulation Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Nuvectra Corporation, Medtronic plc, NeuroPace, Inc., Laborie, Inc, Axonics Modulation Technologies, Inc., Nevro Corp., Boston Scientific Corporation, Synapse Biomedical Inc., and St. Jude Medical, Inc. (Abbott Laboratories), among others. The key players are evolving through various strategies such as acquisitions, partnerships, along with heavy investment in research and development activities and new product launches to withstand the competitive rivalry. For instance, in September 2019, Axonics Modulation Technologies, Inc, received Us FDA approval for its Axonics Sacral Neuromodulation System, for the treatment of chronic fecal incontinence.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Rising Prevalence of Overactive Bladder Conditions
- 4.2.2 Increasing Incidence of Urge Incontinence
- 4.3 Market Restraints
- 4.3.1 Health Risk associated with the Device
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product
- 5.1.1 External SNS
- 5.1.2 Implantable SNS
- 5.2 By Application
- 5.2.1 Urge Incontinence
- 5.2.2 Urinary & Faecal Incontinence
- 5.2.3 Chronic Anal Fissure
- 5.2.4 Others
- 5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Ambulatory Surgical Centers
- 5.3.3 Others
- 5.4 Geography
- 5.4.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.4.2 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Spain
- 188.8.131.52 Rest of Europe
- 5.4.3 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 Australia
- 126.96.36.199 South Korea
- 188.8.131.52 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 184.108.40.206 GCC
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle East and Africa
- 5.4.5 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Nuvectra Corporation
- 6.1.2 Medtronic plc
- 6.1.3 NeuroPace, Inc.
- 6.1.4 Laborie, Inc
- 6.1.5 Axonics Modulation Technologies, Inc.
- 6.1.6 Nevro Corp.
- 6.1.7 Boston Scientific Corporation
- 6.1.8 Synapse Biomedical Inc.
- 6.1.9 St. Jude Medical, Inc.(Abbott Laboratories)
- 6.1.10 Johnson and Johnson
- 6.1.11 Biomedical Life Systems, Inc.
- 6.1.12 Kegel8 (Savantini Limited)
- 6.1.13 EnteroMedics, Inc.
- 6.1.14 LivaNova Plc
- 6.1.15 Inspire Medical Systems, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS