Press release
Sacral Nerve Stimulation Market Analysis- Products, Application - Forecast Report To 2025
Crystal Market Research
Sacral Nerve Stimulation (SNS) is an electrical stimulation therapy for the treatment of bladder control and bowel control symptoms. A programmable stimulator is implanted subcutaneously to deliver electrical stimulation through a lead to the sacral nerve. This is a clinically proven treatment for overactive bladder (OAB) patients which significantly improve quality of life as compared to patients on therapeutics.
OAB is one of the most common condition affecting millions of people worldwide. Sudden urge to urinate is the most common symptom of OAB. This urge is difficult to stop and hence leads to involuntary leaking of urine (known as incontinence). OAB affects 85 million adults in Europe and the U.S. and 40 million people are suffering from fecal incontinence. Over the past two decades, this therapy has been widely adopted in the U.S. and Europe for the treatment of OAB, primarily due to availability of favorable reimbursement.
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Rise in prevalence of OAB symptoms coupled with rapidly aging population, increased research and development (R&D) efforts by SNS manufacturers, and technological advancements in SNS systems are set to boost the adoption of SNS systems. However, side-effects associated with SNS systems will hinder the market growth. But, the development of O-arm guided navigation systems, and antibacterial and bioabsorbable technology are the current industry trends, which will bring in huge growth opportunities for the manufacturers.
Moreover, innovation is set to derive the demand for sacral neuromodulation systems globally. Therefore, major players emphasize on new product development in order to gain competitive advantage. For instance, in January 2017, Axonics Modulation Technologies, Inc. obtained approval from Health Canada for its rechargeable Sacral Neuromodulation (r-SNM) System, which is designed for the treatment of overactive bladder, urinary retention, and fecal incontinence. Likewise, in February 2017, Nuvectra Corporation filed regulatory submissions for CE mark and FDA approvals for its Virtis Sacral Nerve Stimulation System. This system can be used to treat overactive bladder and chronic urinary retention. Thus, development of such innovative SNS systems to meet the unmet medical needs will further contribute to the market growth.
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Additionally, increased research and development (R&D) efforts is one of the key drivers for the growth of this market. In line with this strategy, major companies are raising finances for conducting studies on SNS systems. For instance, in May 2017, Axonics Modulation Technologies, Inc. obtained $14.5 million for a pivotal study of its neuromodulation system in overactive bladder patients. Further, it aims to raise $30 million to kick off its U.S. pivotal study, which is expected to be conducted in Europe and the U.S. Prior to this, the company has received $38.5 million for its SNS system.
Some of the major players operating in this market are Axonics Modulation Technologies, Inc, Medtronic plc, and Nuvectra Corporation. Medtronic has monopoly in the global SNS Market. The company has strong product portfolio of both external and implantable SNS devices. It offered innovative treatments to around 225,000 patients globally through its InterStim system.
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About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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