Sacral nerve stimulation involves delivering mild electric pulses through a small device implanted in the lower back to stimulate the sacral nerve roots that innervate the pelvis and trunk. It is used to treat chronic pelvic pain, urinary and fecal incontinence, and neuropathic pain syndromes. The technique helps modulate pain signals and normalize muscle and organ function. The global Sacral Nerve Stimulation Market is estimated to be valued at US$ 444.7 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity to reduce chronic pain is expected to drive the global sacral nerve stimulation market over the forecast period. Sacral nerve stimulation therapy has emerged as an effective treatment option for chronic pain conditions like fibromyalgia and chronic lower back pain. According to the National Institute of Neurological Disorders and Stroke, around 25 million adults in the US suffer from chronic pain. Conventional treatment options often do not provide satisfactory relief leading to an increased demand for neuromodulation therapies like sacral nerve stimulation. The non-invasive nature and high success rates associated with sacral nerve stimulation make it an attractive alternative to manage chronic intractable pain thus presenting lucrative opportunities for players in the global market.
Porter’s Analysis
Threat of new entrants: The global sacral nerve stimulation market has moderate barriers for new entrants due to established key players. However, new technologies provide opportunity for new market players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative treatment options. However, growing awareness is likely to boost demand providing less bargaining power over next few years.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute components and raw materials. Established supply chain also reduces suppliers influence over customers.
Threat of new substitutes: Threat of substitutes is moderate as there are alternative surgical and non-surgical treatment options available for urinary incontinence and fecal incontinence. However, sacral nerve stimulation offers advantages over traditional treatments.
Competitive rivalry: Market competitive rivalry is high amongst key global players due to their large market share and extensive global presence resulting in high investment for innovations.
SWOT Analysis
Strengths: Minimally invasive procedure, rechargeable battery technology, clinical effectiveness, and regulatory approvals are key strengths.
Weaknesses: High costs of devices and therapy may limit market growth. Long term outcome data still needed to affirm effectiveness.
Opportunities: Growing geriatric population suffering from urinary and fecal incontinence indicate significant opportunities. Emerging economies provide untapped potential.
Threats: Stringent regulatory approvals and reimbursement policies can hamper market growth. Alternative treatment options also pose major threat to sacral nerve stimulation technology.
Key Takeaways
The Global Sacral Nerve Stimulation Market Demand is expected to witness high growth at a CAGR of 5.2% during the forecast period of 2024-2031.
North America region currently dominates the global market and is estimated to maintain its lead position throughout the analysis period, due to presence of major players and growing adoption of sacral nerve stimulation devices. Asia Pacific region is anticipated to witness fastest growth rate over next few years due to rising geriatric population, increasing healthcare expenditure, and presence of ample opportunities in emerging markets like India and China.
Key players operating in the global sacral nerve stimulation market are Medtronic plc., Boston Scientific Corporation, Nevro Corp, StimWave Technologies Inc., Axonics, Inc., Synapse Biomedical, Uroplasty, St. Jude Medical, Cogentix Medical. Major players are focusing on new product launches, geographical expansion and strategic collaborations to strengthen their market position.
For more details on the report, Read- https://www.marketwebjournal.com/sacral-nerve-stimulation-market-trends-size-and-share-analysis/
Get more insights on this topic: https://coolbio.org/pharmacogenomics-a-promising-new-approach-to-personalized-medicine/
Sacral Nerve Stimulation (SNS) Market (Covid 19 Update) In-Depth Research on Market Dynamics, Applications & Emerging Growth | Medtronic; LABORIE; Stimwave LLC; SunMed; Vygon SA; Medline Industries, Inc.; NeuroMetrix, Inc.; SPR TherapeuticsSacral Nerve Stimulation (SNS) Market Research report provides a detailed analysis of of main manufactures and geographic regions,global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players.
Sacral Nerve Stimulation (SNS) Market report includes definitions, classifications, applications, and industry chain structure, development trends, and key regions distributors analysis.The report also provides supply and demand Figures, revenue, revenue and shares.
value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches.Global sacral nerve stimulation (SNS) market is expected to rise to an estimated value of USD 2385.86 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026.
This rise in market value can be attributed to the widespread prevalence of urge incontinence in patients globally, along with the increasing volume of patients suffering from overactive bladder.NOTE: Due to the pandemic, we have included a special section on the Impact of COVID 19 on the Sacral Nerve Stimulation (SNS) Market which would mention How the Covid-19 is affecting the Sacral Nerve Stimulation (SNS) Industry, Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for Sacral Nerve Stimulation (SNS) Players to Combat Covid-19 Impact.Get Latest Sample for Global Sacral Nerve Stimulation (SNS) Market Report (including COVID19 Impact) @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-sacral-nerve-stimulation-sns-marketMarket Drivers and Restraints:Rising incidences of patients suffering from the applicable disorders/conditions of sacral nerve stimulation acts a driver for this marketGrowing levels of favorable reimbursement scenarios for sacral nerve stimulation is expected to fuel the market growthIncreasing population relating to geriatric group is also expected to drive the growth of the marketGrowing levels of R investments undertaken by various manufacturers and authorities for sacral nerve stimulation is expected to boost the growth of the marketConcerns regarding the negative impacts and side-effects associated with the device is expected to restrict the growth of the marketHigh costs associated with the device is also expected to hinder the market growthLack of technical knowledge and expertise amongst individuals along with the complications associated with the device can also act as a market restraint Key Players: Global Sacral Nerve Stimulation (SNS) MarketMedtronic; LABORIE; Stimwave LLC; SunMed; Vygon SA; Medline Industries, Inc.; NeuroMetrix, Inc.; SPR Therapeutics; NeuroSigma, Inc.; Abbott; LivaNova PLC; Nuvectra, Axonics Modulation Technologies Inc among others.MAJOR TOC OF THE REPORTChapter One: Sacral Nerve Stimulation (SNS) Market OverviewChapter Two: Manufacturers ProfilesChapter Three: Global Sacral Nerve Stimulation (SNS) Market Competition, by PlayersChapter Four: Global Sacral Nerve Stimulation (SNS) Market Size by RegionsChapter Five: Global Sacral Nerve Stimulation (SNS) Market Revenue by CountriesChapter Six: Global Sacral Nerve Stimulation (SNS) Market Revenue by ProductChapter Seven: Global Sacral Nerve Stimulation (SNS) Market Revenue by TypeChapter Eight: Global Sacral Nerve Stimulation (SNS) Market Revenue by ApplicationChapter Nine: Global Sacral Nerve Stimulation (SNS) Market Revenue by End-UsersChapter Ten: Global Sacral Nerve Stimulation (SNS) Market Revenue by GeographyGet Detail TOC@ https://www.databridgemarketresearch.com/toc/?dbmr=global-sacral-nerve-stimulation-sns-marketKey Report HighlightsComprehensive pricing analysis based on different product types and regional segmentsMarket size data in terms of revenue and sales volumeDeep insights about regulatory and investment scenarios of the global Sacral Nerve Stimulation (SNS) MarketAnalysis of market effect factors and their impact on the forecast and outlook of the global Sacral Nerve Stimulation (SNS) MarketThe detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Sacral Nerve Stimulation (SNS) MarketA roadmap of growth opportunities available in the Global Sacral Nerve Stimulation (SNS) Market with the identification of key factorsThe exhaustive analysis of various trends of the Global Sacral Nerve Stimulation (SNS) Market to help identify market developmentsKey Questions Answered in Report:What is the key to the Sacral Nerve Stimulation (SNS) Market?What will the Sacral Nerve Stimulation (SNS) Market Demand and what will be Growth?What are the latest opportunities for Sacral Nerve Stimulation (SNS) Market in the future?What are the strengths of the key players?Access Full Report @ https://www.databridgemarketresearch.com/reports/global-sacral-nerve-stimulation-sns-marketAbout Us:Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the marketContact:Data Bridge Market ResearchTel: +1-888-387-2818Email: [email protected] Related Reports@Pressure Guidewires MarketSigmoidoscopes MarketSelf-Healing Hydrogels Market
