An extensive study of the product application and services conducted by subject matter experts assessing the Sacral Neuromodulation Market will help product owners to make a wise decision.
New York, United States – June 27, 2020 /MarketersMedia/ —
The latest study on the Sacral Neuromodulation market published by the Reports and Data offers a deep understanding of the various market dynamics such as the challenges, drivers, trends, and opportunities. The report further elaborates on the micro and macro-economic factors that are expected to shape the growth of the Sacral Neuromodulation market during the forecast period (2020-2026). The presented study elucidates the key indicators of market growth that includes a thorough analysis of the value chain, CAGR growth, and Porter’s Five Forces Analysis. This data will enable readers to understand the quantitative growth parameters of the global Sacral Neuromodulation market.
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Key players in the global market are Cyberonics, St Jude Medicals, Boston Scientific, Medtronic.
The basic evaluation includes simple, in-office procedure whereas the advanced evaluation is performed in hospitals, clinics, surgical centers. The global market is propelled by number of factors such as increasing geriatric, rise in the neurological diseases and failure of conventional treatments (exercise, changes in lifestyle, diet) to cure SNM. However adverse effects and complications in some of the SNM treatments are the major hindrances for market growth in 2020-2026.
For the purpose of this study, Reports and Data have segmented the Sacral neuromodulation market on the basis of product, application, and region:
Product (Revenue, USD Million; 2016–2026)
• Implantable SNM devices
• External SNM devices
Application (Revenue, USD Million; 2016–2026)
• Urinary incontinence
• Urge incontinence
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Further key findings from the report suggest
• Implantable SNM devices in comparison to external SNM devices is a more popular option on a global level. It holds 62.5% of the total market share whereas External SNM device holds 33.3% of the total market share.
• Medtronic is the dominating player in manufacturing SNM instruments, devices in the global market. In 2015, Medtronic had net sales worth USD 3.8 billion in neuromodulation. Gastrointestinal and urological devices were the prime factors for the rapid growth of Medtronic.
• Axonics Modulation Technologies acquired investments in SNM worth 38.5 million to extensively study about OAB implants in North America and Europe and is expected to surpass medical device giant Medtronic’s popular and successful Interstim system in the coming future. The Axonics SNM system is compatible, given few precautions, with 1.5 Tesla and 3 Tesla MRI scanners. It is the only SNM system clearing in Europe with such labelling. Axonics ‘s SNM device is rechargeable and also has a guaranteed lifetime up to 15 years (3 times longer than Medtronic’s Interstim). It is also 60% smaller than Interstim device.
• Welkin Health, a privately-held patient relationship management software company has recently announced that it will be collaborating with Axonics Modulation Technologies in finding new solutions for SNM.
• With only a handful of players in the market, there are tremendous opportunities for companies like Axonics to enter in the market.
• Revenue from the sale of SNM devices is estimated to be rise around USD 600 million annually with nearly 30,000 devices implanted in patients in 2014 alone.
• Revenue for this market is estimates to grow to over USD1 billion by the end of 2019.
• Associated side effects related to SNM treatments and lack of awareness about Sacral neuromodulation is likely to hinder the market growth during the forecast period.
Key questions addressed in the Sacral Neuromodulation market:
1. What are the current trends that are dictating the growth of the Sacral Neuromodulation market?
2. What is the scope of innovation in the current market landscape?
3. How will the recent amendments in the industrial policies in the regions affect the growth of the Sacral Neuromodulation market?
4. What is the projected value of the market in 2026?
5. Which regional market is expected to witness the highest CAGR growth during the assessment period?
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