In 2022, the global Gastric Electrical Stimulators Market is expected to be worth US$ 227.8 million. The increasing availability of novel high-frequency Gastric Electrical Stimulators, as well as a greater emphasis on the treatment of chronic illnesses such as gastroparesis, are expected to dominate the market.
Between 2022 and 2032, the market for Gastric Electrical Stimulators is estimated to grow at a 6.2% CAGR, reaching roughly US$ 439.9 million by the end of 2032.
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Gastric Electrical Stimulators are expected to be in high demand in the coming years, owing to an increase in minimally invasive treatments, an increase in gastroparesis, and advantageous reimbursement policies. Because standard treatment is generally ineffective in treating this ailment, which can result in malnutrition and dehydration, gastroparesis has been identified as the primary driver of demand for Gastric Electrical Stimulators.
Gastroparesis is a medical condition that causes stomach nerves to malfunction, resulting in the inability to break down solid food and its prolonged retention in the stomach. Chronic nausea, vomiting, and constipation are signs of this condition, which is caused mostly by bacterial overgrowth in the small intestine. A gastric electrical stimulator with two unipolar intramuscular probes and a neurostimulator is implanted beneath the skin in the lower abdomen to treat or manage this issue.
North America Gastric Electric Stimulators Market Remains Lucrative
North America accounts for 57.1% of the global market for Gastric Electrical Stimulators. Other key factors paving the way for lucrative opportunities in the North American gastric electric stimulators market, according to the FMI report, include increased investments in medical studies and R&D activities, ongoing technological advancements and innovations, and the presence of several leading market players.
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Competitive Landscape:
Some of the main Gastric Electrical Stimulators manufacturers include Medtronic Plc., IntraPace Inc., ReShape Lifesciences, Inc., Changzhou Ruishen Medical Equipment Co, Ltd, ANS, EnteroMedics, MetaCure, Stryker Corporation, Philipis.
To boost their sales and acquire a competitive edge in the global Gastric Electrical Stimulators market, these top Gastric Electrical Stimulators providers are implementing various strategies such as new product releases and approvals, partnerships, collaborations, acquisitions, mergers, and so on.
- In March 2020, Medtronic launched the EnterraTM II model 37800 gastric neurostimulator, a programmable device implanted to produce mild electrical pulses to address chronic and intractable (medication-resistant) nausea and vomiting associated with gastroparesis.
- ReShape Lifesciences™ announced encouraging preclinical findings for its investigational Diabetes Bloc-Stim Neuromodulation Device in September 2020.
More Insights Available
In Europe, Germany, France, and the United Kingdom are significant markets for gastric electrical stimulation systems. The growing prevalence of gastroparesis in these countries is driving market growth. The Asia-Pacific region is also a significant gastric electrical stimulation systems market, with China, Japan, and India being the major contributors. The region’s market growth is attributed to the rising awareness about gastroparesis, an increasing aging population, and an increase in healthcare expenditure.
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Key Segments of Gastric Electrical Stimulators Industry Survey
Gastric Electrical Stimulators Market by Type:
- High Frequency Gastric Electrical Stimulators
- Low Frequency Gastric Electrical Stimulators
Gastric Electrical Stimulators Market by Application:
- Gastric Electrical Stimulators for Gastroparesis
- Gastric Electrical Stimulators for Obesity
Gastric Electrical Stimulators Market by End Users:
- Gastric Electrical Stimulators for Hospitals
- Gastric Electrical Stimulators for Ambulatory Surgical Centers
- Gastric Electrical Stimulators for Other End Users
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