Gastric Electrical Stimulators Market Set for Rapid Growth, to reach Value around US$ 433.8 million by 2033
Zion Market Research has published a new report titled “Gastric Electrical Stimulators Market by Material (Low Frequency Gastric Electrical Stimulators, and High Frequency Gastric Electrical Stimulators), and by End User (Hospitals, Ambulatory Surgical Centers (ASC’s), Clinics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast.
According to the report, The global gastric electrical stimulator market size is estimated to reach a valuation of US$ 240.6 million in 2023. The market of gastric electrical stimulators is projected to record a robust CAGR of 6.1% between 2023 and 2033, totaling around US$ 433.8 million by 2033.
Gastric electrical stimulators are small battery operated neurostimulators that are implanted beneath the skin in the lower abdomen area to treat gastroparesis. It consist insulated wires that are implanted in the muscle wall of the stomach and then connected to the neurostimulator which delivers mild electric pulses that stimulate the lower stomach and control symptoms like vomiting and chronic nausea in patients aged from 18 to 70 years. Currently, there is only one type of therapy approved by the U.S. FDA in the market for treatment of gastroparesis known as the Enterra therapy system which is based on the humanitarian device exemption.
Rising prevalence rate of gastroparesis is one of the main factors propelling the growth of gastric electrical stimulators market globally. Growing prevalence of diabetes and significantly rising geriatric population base with escalating number of patients with gastroparesis clinical manifestations, obesity and changing lifestyles are also among the other factors for market growth. Furthermore, support from regulatory bodies and favorable reimbursement policies to manage this rare condition are other factors boosting market growth.
The market for gastric electrical stimulators is segmented based on product, end user, and regions. Based on product the market is segmented into high frequency gastric electrical stimulators, and low frequency gastric electrical stimulators. The segment for high frequency gastric electrical stimulators held major share of the market. The major factors influencing market growth are excellent clinical outcomes in the gastroparesis treatment like it reduces the severity of vomiting and nausea. Besides long battery life has increased its demand in the market. The low frequency stimulators are applied on the stomach in the serosa region as external device in order to improve gastric emptying time in diabetic and aged population and increase the amplitude of gastric slow waves.
On the basis of end user the market is divided into clinics, ambulatory surgical centers, hospitals, and others. The hospitals segment held major share of the market and is likely to grow at high CAGR in the forecast period since these devices require longer hospital stays at times.
Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. North America held major share of the market due to large number of gastrointestinal procedures which are been carried out in this region due to high prevalence rate of gastroparesis and favorable reimbursement scenario especially in the U.S.
Key Companies Profiled
- Medtronic Plc.
- IntraPace Inc.
- ReShape Lifesciences Inc.
- Changzhou Ruishen Medical Equipment Co. Ltd.
- Chentao Medical Equipment
- Rishena Co. Ltd.
- Enterra TM
The report segments the gastric electrical stimulators market as follows:
Global Gastric Electrical Stimulators Market: Product Segment Analysis
- Low Frequency Gastric Electrical Stimulators
- High Frequency Gastric Electrical Stimulators
Global Gastric Electrical Stimulators Market: End User Segment Analysis
- Hospitals
- Ambulatory Surgical Centers (ASC’s)
- Clinics
- Others
Global Gastric Electrical Stimulators Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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