Technavio, a tech-focused market research firm, has published a new report on the global SNS market, which is expected to grow at a CAGR of close to 5% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global SNS market into the following key regions: the Americas, APAC, Europe, and EMEA.
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SNS market in the Americas: The Americas occupied the maximum share in the global SNS market due to the high adoption rate of SNS devices to treat bowel and urinary incontinence. The shift towards these devices by patients using traditional methods and the increased investments in the healthcare sector has propelled growth in the SNS market in the region.
According to Sapna Jha, a lead analyst at Technavio, specializing in research on orthopedics and medical devices, “The only vendor in the market, Medtronic, has a strong presence in most countries in the Americas. The company is focusing on emerging economies such as Peru, Columbia, and Venezuela to expand its operations and the sales of these devices.”
SNS market in EMEA: The frequent number of cases related to the sacral nerve are increasing in EMEA due to post-operative issues and changes in lifestyle. There is a huge scope for SNS devices to penetrate the market due to the increase in demand for treatment using these devices in emerging countries like Albania, Armenia, Bulgaria, Tanzania, and Nigeria. Growing public awareness and increasing number of procedures requiring SNS devices have created demand for these devices in EMEA.
SNS market in APAC: Rising number of hospitals and ASCs with high-quality infrastructure, the occurrence of lifestyle diseases leading to increased surgeries, and the change in thinking in surgeons toward the use of SNS devices are driving the market growth. Few countries like Australia and Japan have shown a significant increase in the adoption of SNS devices due to the increasing prevalence of bowel or urinary incontinence. This is attributed to factors like increasing physician preference and patient population accepting treatment methods involving SNS devices.
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The top leading vendor operating in the global SNS market are:
- Medtronic
Other prominent vendors in the market include Axonics Modulation Technologies and Nuvectra.
A more detailed analysis is available in the Technavio market research report titled, ‘Global SNS Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Colonoscopy Devices Market 2017-2021
- Global MRI Systems Market 2017-2021
- Global Neurology Endoscopy Devices Market 2017-2021
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