5 Dec
2023
The shifting dietary habits and lifestyle changes have increased the overall comforts of life; however, these comforts have come at an expense. Many diseases and disorders have threatened the health and well-being of the populations, and the prevalence of these chronic ailments has grown over time. Chronic bowel and bladder disorder is one such example. Many treatments have been devised to treat this disease, one of which is sacral nerve stimulation.
Reasons for growing preference for sacral nerve stimulation
In the case of medical procedures, patients have always preferred non-invasive or minimally invasive medical procedures over surgical operations. Sacral nerve stimulation is a minimally invasive procedure wherein an electrode or transmitter is placed under the patient’s skin in the upper buttock area. This transmitter sends gentle electric signals or pulses to the sacral nerve for stimulating it. Thus, just as a pacemaker stimulates the heart by sending it electric pulses, sacral neuromodulation device sends electric pulses to the sacral nerve for the proper functioning of sphincter and bladder muscles. Sacral neuromodulation or sacral nerve stimulation enhances maximum bladder capacity and reduces the chance of urinary retention. This medical procedure also improves involuntary urine leakage and brings down the need to urinate multiple times a day. Thus, with a simple medical procedure, this device improves the overall quality of life.
Growth opportunities for the market
In February 2022, Medtronic announced that its InterStim X™ system had received FDA approval and it was immediately launching this advanced personalized sacral nerve stimulation therapy in the market. In April 2023, Axonics announced that it has acquired Radian for getting access to its lead placement technology, which was vital for development of sacral neuromodulation technology. Both these stakeholder actions, including many more, have helped in the expansion of the sacral nerve stimulation market.
Apart from this, the growing prevalence of medical conditions such as urinary and fecal incontinence and overactive bladder syndrome is projected to be the main growth driver of the market. Moreover, technological advancements in the healthcare industry and the increasing proportion of the aging population across the globe might create new growth opportunities in the market. When studied on the basis of the product type, the sacral nerve stimulation devices segment is estimated to gather an absolute revenue of $250.5 million from 2022 to 2032. At the same time, the accessories segment is set to gather $29 million during the same time period. Regional analysis shows that the China sacral nerve stimulation market is likely to have the highest CAGR of 9% during the forecast period.
To conclude, the growth of the global sacral nerve stimulation market can be attributed to the inherent advantages offered by sacral neuromodulation. The growth of the industry in China and the strategic alliances among major companies will further augment the growth rate of the market in the near future.
Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
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