LOS ANGELES, July 25, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, Recently Published Report On “Sacral Nerve Stimulation Market (By Product: Implantable, External; By Application: Urinary & Fecal Incontinence, Urge Incontinence, Chronic Anal Fissure, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.
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Sacral nerve stimulation devices are an effective and safe treatment for patients suffering from fecal and urinary dysfunction. The factors driving the global sacral nerve stimulation market are increasing demand for the minimal invasive therapy, huge population pool in developing countries, rising prevalence of urinary bladder diseases, and technological advancements such as introduction of novel coatings and engineering strategies. However, lack of awareness among the people, and high cost of the products may slow the growth of the market.
The global sacral nerve stimulations market is segmented by product and application.
On the basis of products, the sacral nerve stimulations market is segmented into implantable, and external. Implantable devices segment holds the major share in the market and will maintain its dominance throughout the estimated period owing to high efficiency than other available products, continuously increasing demand for the implantable devices and rising number of patient suffering from UTI diseases.
On the basis of application, the sacral nerve stimulations market is segmented into urinary & fecal incontinence, urge incontinence, chronic anal fissure, and others. Urinary & fecal incontinence holds the major share in the market owing to being a major application for the sacral nerve stimulations devices.
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Geographically, the global sacral nerve stimulations market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
North America is likely to account for the largest share of the sacral nerve stimulations market followed by Europe in the forecast period 2019–2026. The growth of this region is majorly attributing to huge population suffering form the urinary diseases, increasing awareness about the health, and presence of huge geriatric population. According to the Center of Disease Control And Prevention, in 2017, over 5 million people in U.S. were suffering from major or miner kidney related diseases. Availability of huge funds granted by government, increasing R&D activities, and high spending have fuelled the growth of the market. Europe accounts for the second leading position in the market for the sacral nerve stimulations. The growth of the market is majorly attributed due to the increasing provenance of the cardiovascular diseases, rising diabetic population, rising the incidence acute and chronic kidney diseases, and availability of the funds for the research and development. Furthermore growing health care sector, availability of skilled personnel, and low development costs, are the factors supporting the growth of the market in Europe during the forecast period. Increasing prevalence of diseases such as kidney disease, heart disease, and diabetes is driving the growth in this region.
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U.K is expected to hyave the fastest growth in the Europe sacral nerve stimulation market owing to huge patient population, well developed healthcare technology, increasing demand for the treatment and high spending on the healthcare. Asia Pacific is expected to be the fastest growing region owing to the presence of rapidly growing economies such as India and China, huge population, changing lifestyle huge patient population, and continually increasing healthcare expenditure. On the other hand LAMEA is expected to witness a considerable growth in the market during the forecast period. The significant growth in the regional market is attributed due to increasing prevalence of renal diseases, high spending in Middle East countries. Growing urbanization, high disposable income and improving healthcare infrastructure, are projected to drive the growth to some extent.
Some of the key players in the global sacral nerve stimulations market include Medtronic PLC, Axonics Modulation Technologies, Inc., Nuvectra, Cogentix Medical, Teleflex, B. Braun Melsungen AG, Medline Industries, Inc., Fuji Systems Corporation, Cook Medical Group, Inc, Bard Medical, Coloplast Ltd, among other.
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