Global Sacral Nerve Stimulation Market, By Product Type (Implantable SNS Devices, External SNS Devices, Accessories), By Application (Urinary and Fecal Incontinence, Chronic Pain, Others), By End User (Hospital, Clinics, Ambulatory Surgery Centers), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Jan 2024

Code : CMI6543

Pages :172

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Global Sacral Nerve Stimulation Market - Drivers

Rising geriatric population: Increasing geriatric population globally is expected to propel the market growth over the forecast period. For instance, on October 1, 2022, according to the data published by the World Health Organization, in 2020, the number of people aged 60 years and older outnumbered children younger than 5 years. Moreover, between 2015 and 2050, the proportion of the World's population over 60 years will nearly double from 12% to 22%.
Growing prevalence of urinary incontinence: Increasing prevalence of urinary incontinence globally will aid in the market growth over the forecast period. For instance, in December 21, 2018, according to the data published by the National Center for Biotechnology Information (NCBI) between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%.

Global Sacral Nerve Stimulation Market - Opportunities

Development of new stimulation systems: Development of new stimulation systems can unlock tremendous opportunities in the global sacral nerve stimulation market. With advancements in neuro technology, researchers are working on minimally invasive and targeted stimulation methods that can more effectively treat underlying medical conditions in a safe, affordable manner. Some of the new approaches being explored include wireless stimulation implants, micro-scale electrodes, and customized stimulation paradigms modulated by AI/ML algorithms.

Global Sacral Nerve Stimulation Market - Restraints

High cost of sacral nerve stimulation devices: The high cost of sacral nerve stimulation devices is posing significant challenges for the growth of the global sacral nerve stimulation market. Sacral nerve stimulation therapy involves implantation of a medical device which helps in the stimulation of sacral nerves to provide relief from conditions like overactive bladder, urinary incontinence, and fecal incontinence. However, the devices and surgical procedures that are required for sacral nerve stimulation are extremely expensive. For instance, according to the data published by the National Center for Biotechnology Information (NCBI), the therapy the cost of the sacral nerve stimulation surgical implant is US$ 22,970.