Overactive bladder (OAB) afflicts hundreds of millions of adults worldwide, and an effective if underused third-line treatment is neuromodulation. The longtime market-dominant devices, Medtronic PLC’s InterStim and Cogentix Medical Inc.’s Urgent PC, now face competition from companies developing alternative approaches to neuromodulation for OAB and other urological indications. These companies see a multibillion-dollar market consisting largely of previously untreated patients.
InterStim, sometimes called the “bladder pacemaker,” is an implanted stimulator of the sacral nerve (sacral neuromodulation, or SNM). Urgent PC uses a less invasive approach called percutaneous tibial nerve stimulation...