Incontinence Neuromodulation Market to Hit US$ 3.04 Billion by 2031 | Exclusive Report by Growth Plus Reports
Newark, New Castle, USA, July 03, 2023 (GLOBE NEWSWIRE) — According to the latest analysis conducted by Growth Plus Reports, the global incontinence neuromodulation market was valued at approximately US$ 1.30 billion in 2022. The market is projected to exhibit a robust compound annual growth rate (CAGR) of 11.2% and is expected to reach a revenue of US$ 3.04 billion by 2031. This significant growth indicates a promising future for the incontinence neuromodulation industry.
The global market for incontinence neuromodulation was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. Incontinence neuromodulation is a medical procedure that alters how the nerves that regulate the bladder or bowel respond to electrical stimulation.
- The prevalence of urinary and fecal incontinence drives the market revenue share.
- Several advancements in the products are driving the demand for incontinence products.
- Rising demand for minimally invasive procedures with faster recovery times propels market revenue growth.
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Incontinence Neuromodulation Market Scope
|Market Size Value in 2022||US$ 1.30 billion|
|Market Size Value in 2031||US$ 3.04 billion|
|Growth Rate||CAGR of 11.2% from 2023 to 2031|
|Base Year for Estimation||2022|
|Forecast Period||2023 to 2031|
|Segments Covered||Product Type, Application, End User, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
Recent Development in the Global Incontinence Neuromodulation Market:
- In January 2023, the FDA approved Axonics, Inc.’s fourth-generation rechargeable sacral neuromodulation system. The Axonics R20 neurostimulator reduces the frequency with which patients must recharge their implanted device to once every 6 to 10 months for approximately one hour.
- In January 2023, the Zida Control Sock was created to assist those suffering from overactive bladder and incontinence reduce their symptoms. The Zida Control Sock is an FDA-approved neuromodulation device that treats overactive bladder and incontinence with transcutaneous tibial nerve stimulation. According to clinical research, the Zida Control Sock reduces incontinence episodes by 70%.
Following is a list of the top market players operating in the global market for incontinence neuromodulation:
- Laborie Medical Technologies Inc.
- Axionics Modulation Technologies Inc.
- Abbott Laboratories
- Medtronic Plc.
- Boston Scientific Corporation
Market Drivers and Restraints:
The global incontinence neuromodulation market revenue is driven by the rising prevalence of depression, population awareness, affordable mental care, and wide accessibility. Furthermore, the widespread use of smartphones contributes to market revenue growth.
However, some regulatory concerns regarding its safety and effectiveness are expected to restrain the revenue growth of the global incontinence neuromodulation market.
Segmentation By Product Type
Based on product type, the global incontinence neuromodulation market is segmented into external and implantable. Due to the continuous, intermittent stimulation of signals, the implantable neuromodulation segment accounts for the largest market revenue share.
Segmentation By Application
Based on the applications, the global incontinence neuromodulation market is segmented into urinary incontinence and fecal incontinence. The urinary incontinence segment accounts for the largest revenue share due to being the most common incontinence segment, largely prevalent in women and the geriatric population. This segment is further sub-segmented into urge incontinence, overflow incontinence, and others.
Segmentation By End-User
Based on end-user, the global incontinence neuromodulation market is segmented into hospitals, ambulatory surgical centers, and others. Due to the availability of advanced equipment, skilled professionals, and a higher satisfaction rate of patients, the hospital segment accounts for the largest market revenue share.
Regional Growth Dynamics
Based on the region, the global incontinence neuromodulation market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the prevalence of urinary and fecal incontinence, the development of advanced neuromodulation devices and therapies, and increased adoption of these products by healthcare personnel, North America accounts for the largest revenue share in the global market.
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Growth Plus Reports studied the global market for incontinence neuromodulation in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- GLOBAL INCONTINENCE NEUROMODULATION MARKET – ANALYSIS & FORECAST, BY PRODUCT TYPE
- GLOBAL INCONTINENCE NEUROMODULATION MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Urinary Incontinence
- Urge Incontinence
- Overflow Incontinence
- Fecal Incontinence
- Urinary Incontinence
- GLOBAL INCONTINENCE NEUROMODULATION MARKET – ANALYSIS & FORECAST, BY END USER
- Ambulatory Surgical Centers
INCONTINENCE NEUROMODULATION MARKET TOC
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