Reports and Data's analysis shows that the global Sacral Neuromodulation Market was valued at USD 2,432.9 Million in 2020 and is expected to reach USD 3,498.2 Million by 2028, at a CAGR of 4.94%.

The study provides an in-depth analysis of sacral neuromodulation and the treatments used to cure it. Currently, overactive bladder symptoms of urgency, frequency, and incontinence are affecting a significant proportion of the population, especially as age increases. Sacral neuromodulation, also known as sacral nerve stimulation, has been one of the popular and effective treatment options for overactive bladder and bowel problems for the last two decades. The main purpose of sacral neuromodulation is to improve the coordination between the bladder/bowel and the brain.

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The global market is driven by factors such as an increasing geriatric population, a rise in neurological diseases, and the failure of conventional treatments (exercise, changes in lifestyle, diet) to cure sacral neuromodulation. However, adverse effects and complications in some sacral neuromodulation treatments are the major hindrances for market growth from 2019 to 2028.

The report identifies North America as the largest revenue-generating region in the global sacral neuromodulation market, holding 35.5% of the total market share due to technological advancements and rising awareness about sacral neuromodulation. Europe accounts for 31.2% of the total market share. Implantable sacral neuromodulation devices are a more popular option globally compared to external devices, with implantable devices holding 62.5% of the total market share, and external devices holding 33.3%.

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Medtronic is the dominating player in manufacturing sacral neuromodulation instruments and devices in the global market. In 2015, Medtronic had net sales worth USD 3.8 billion in neuromodulation, with gastrointestinal and urological devices being the prime factors for the rapid growth of Medtronic. Axonics Modulation Technologies acquired investments in sacral neuromodulation worth USD 38.5 million to study OAB implants extensively in North America and Europe and is expected to surpass medical device giant Medtronic’s popular and successful Interstim system in the coming future.

Axonics' sacral neuromodulation system is rechargeable, has a guaranteed lifetime of up to 15 years (three times longer than Medtronic's Interstim), and is 60% smaller than the Interstim device.

The report also highlights that there are tremendous opportunities for companies like Axonics to enter the market since only a handful of players are currently in the market. Revenue from the sale of sacral neuromodulation devices is estimated to rise around USD 600 million annually, with nearly 30,000 devices implanted in patients in 2014 alone. Revenue for this market is estimated to grow to over USD 1 billion by the end of 2019.

The key players in the global market are Cyberonics, St Jude Medicals, Boston Scientific, and Medtronic. The report segments the sacral neuromodulation market based on product, application, and region. The product segments include implantable SNM devices and external SNM devices, while the application segment includes urinary incontinence and urge incontinence. The regional outlook includes North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Despite the potential growth opportunities in the market, associated side effects related to sacral neuromodulation treatments and a lack of awareness about sacral neuromodulation are likely to hinder the market growth during the forecast period.

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