Sacral Neuromodulation Market Size, Revenue Analysis, Opportunities, Trends, Product Launch 2028
According to the current analysis of Reports and Data, the global Sacral neuromodulation market was valued at USD 2,432.9 Million in 2020 and is expected to reach USD 3,498.2 Million by year 2028, at a CAGR of 4.94 %. The study covers in-depth analysis of Sacral Neuromodulation and the treatments to cure it. Overactive bladder symptoms of urgency, frequency and incontinency is 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 last 2 decades. The main purpose of the Sacral Neuro modulation is to improve the coordination between bladder/bowel and our brain. One of the proven treatments include sacral neuromodulation via the interstim system. The procedure is divided into two main stages which include basic evaluation and advanced evaluation. In both the evaluations a portable, external stimulator which generates stimulations is delivered through a lead.
Number of companies are engaged in launching new devices for SNM with minimal pain and side effects. For instance, launch of smaller implantable neurostimulator Interstim II manufactured by Medtronic has helped to improve patient 's comfort and 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 simple, in-office procedure whereas the advanced evaluation is performed in hospitals, clinics, surgical centers. The global market is propelled by number of 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 2019-2028.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter's Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Cyberonics, St Jude Medicals, Boston Scientific, Medtronic.
Market Segmentation by Types:
Product (Revenue, USD Million; 2020-2028)
Implantable SNM devices
External SNM devices
Application (Revenue, USD Million; 2020-2028)
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Sacral Neuromodulation market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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 total market share.
Implantable SNM devices in comparison to external SNM devices is a more popular option on a global level. It holds 62.5% of the total market share whereas External SNM device holds 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 labelling. Axonics 's SNM device is rechargeable and also has a guaranteed lifetime up to 15 years (3 times longer than Medtronic's Interstim). It is also 60% smaller than 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 is estimates to grow to over USD1 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.
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