The global Gastric Electrical Stimulators market 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.
Treatment for gastrointestinal problems such as gastroparesis and persistent nausea can be revolutionized with the use of gastric electrical stimulators. By sending precise electrical impulses to the stomach, these devices can control gastric motility and ease symptoms in patients who have not responded to standard treatments.
The global market for stomach electrical stimulators is expanding significantly due to the increasing incidence of gastrointestinal illnesses and the growing need for less intrusive treatment options. Gastric electrical stimulators, which deliver electrical impulses to the gastrointestinal tract, provide comfort to patients with a range of gastrointestinal issues.
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Key Takeaway:
- The global gastric electrical stimulator market is expected to reach US$433.8 million by 2033, growing at a CAGR of 6.1% from its 2023 valuation of US$240.6 million.
- Advancements in high-frequency stimulators and their effectiveness in managing chronic conditions like gastroparesis are key growth drivers.
The Dynamic Landscape:
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interests of potential buyers and create a larger customer base. For instance,
- IntraPace Inc. was established in 2001 to address an unmet need in weight loss surgery by continuing to develop a gentler solution. The company is focusing on gastric pacing devices that use electrical stimulation to influence gut contractions.
Key Developments
- Medtronic teamed up with Google, a leader in artificial intelligence, to use AI to improve gastric electrical stimulators. This partnership aims to create a cutting-edge stimulator that can adjust to the needs of each patient, potentially revolutionizing the effectiveness and personalization of treatment.
- The INSPIRIS Control wireless stomach electrical stimulator, introduced by IntraPace in 2021, represented a significant advance in patient-centered technology. This wireless technology offers a more practical and patient-friendly alternative by not requiring invasive surgery for installation or removal, potentially changing the face of stomach electrical stimulation therapy.
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Key Companies Profiled:
- Medtronic Plc.
- IntraPace Inc.
- ReShape Lifesciences Inc.
- Changzhou Ruishen Medical Equipment Co. Ltd.
- Chentao Medical Equipment
- Rishena Co. Ltd.
- Enterra TM
Key Segments of Gastric Electrical Stimulators Industry Survey:
By Type:
- High Frequency
- Low Frequency
By Application:
- Gastroparesis
- Obesity
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Other End Users
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa
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