The global sacral nerve stimulation market size is expected to reach over 2.3 USD billion by 2026 at the CAGR 12.1% during the forecast period, 2019-2026.
A Sacral nerve stimulation is implanted as a device to control bladder functions by delivering controlled electrical impulses to the sacral nerves that modulate the neural pathways. It is an effective and safe treatment for patients suffering from fecal and urinary dysfunction. Rising geriatric patient pool suffering from urinary diseases is expected to drive the global Sacral nerve stimulation Market during the forecasted years.
The market research study on “Sacral Nerve Stimulation Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Sacral nerve stimulation Market. The report also analyzes the key players operating in Sacral nerve stimulation Market and identifies the key strategies deployed by them along with the market share of leading players.
The factors driving the global Sacral nerve stimulation Market are rising prevalence of urinary tract diseases, rising demand for the minimal invasive therapy, presence of huge population pool in developing countries and technological advancements such as introduction of novel coatings and engineering strategies. According to the Centers for Disease Control and Prevention, over 55,000 men and 17,000 women get bladder cancer, and 5,000 women and 11,000 men die from the disease in U.S every year. Continuously rising prevalence of the urinary system cancer, urinary tract infection and increasing spending of the people have supported the global Sacral nerve stimulation Market. On the other hand, availability of substitutes and prone to hypersensitivity, many slow the growth of the global Sacral nerve stimulation Market.
The global Sacral nerve stimulation Market is segmented as below:
Sacral nerve stimulation Market By Product
Sacral nerve stimulation Market By Application
Sacral nerve stimulation Market By Geography
The global Sacral nerve stimulation Market is segmented by product and application.
On the basis of products, the Sacral nerve stimulation Market is segmented into implantable, and external.
On the basis of application, the Sacral nerve stimulation Market is segmented into urinary & fecal incontinence, urge incontinence, chronic anal fissure, and others.
Geographically, the global Sacral nerve stimulation Market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
North America is likely to account for the largest share of the Sacral nerve stimulation Market in the forecast period 2019–2026. This is attributing to huge population suffering from the urinary diseases, increasing awareness about the health, and presence of huge geriatric population. In 2017, according to the center of disease control and prevention, over 5 million people in U.S. were suffering from major or minor kidney related diseases. Rising R&D activities, availability of huge funds granted by government, and high spending of the people have supported the growth of the market. U.S. holds the major share in the North America sacral nerve stimulation market owing to the huge patient pool whereas; Canada is expected to be the prominent growing region due to the presence of huge geriatric population.
Europe accounts for the second leading position in the market for the sacral nerve stimulations. The growth of the market is majorly attributed owing to the rising the incidence acute and chronic kidney diseases, rising diabetic population, increasing provenance of the cardiovascular diseases, and availability of the funds for the research and development. Additionally, availability of skilled personnel, low development costs, and growing health care sector are the factors driving the growth of the market in the forecast period. Increasing prevalence of diseases such as kidney disease, heart disease, and diabetes is driving the growth in this region. Germany is expected to dominate the major share in the global sacral nerve stimulation market owing to the presence of the well developed economy, huge patient population, well developed healthcare technology and huge spending on the healthcare.
Asia Pacific is expected to be the fastest growing region owing to the huge population and presence of rapidly growing economies. Asia Pacific holds the huge diabetic population, over 60% of the global diabetic population. Diabetic patient are more prone to the urinary diseases. Presence of the huge diabetic population in this region will boost the Sacral nerve stimulation Market. India and China are expected to dominate the major share in the market owing to the rapidly growing economy, huge patient population, changing lifestyle as and continually increasing healthcare expenditure. During last few years, the government in various Asian countries are supporting the companies in order to motivate them for research and development activities which is favored by the presence of the low labor cost.
On the other hand LAMEA Sacral nerve stimulation Market is expected to witness a considerable growth in the market during the forecast period. The significant growth in the regional market is attributed due to increasing prevalence of renal diseases. Growing urbanization, high disposable income in the Middle East countries such as UAE, Saudi Arabia, Kuwait, and improving healthcare infrastructure, are projected to drive the growth to some extent. Africa region is expected to have a sound growth for the market owing to the presence of huge untapped opportunity in the market.
Some of the key players in the global Sacral nerve stimulation Market include Medtronic PLC, Axonics Modulation Technologies, Inc., Nuvectra, Cogentix Medical, Teleflex, B. Braun Melsungen AG, Medline Industries, Inc., Fuji Systems Corporation, Cook Medical Group, Inc, Bard Medical, Coloplast Ltd, among other.