The global gastric electrical stimulator market is poised to reach a valuation of USD 240.6 million in 2023. With a projected CAGR of 6.1% over the forecast period, the market is expected to grow significantly, totaling around USD 433.8 million by 2033.
This growth is largely driven by the introduction of cutting-edge high-frequency gastric electrical stimulators and the increasing focus on managing chronic conditions such as gastroparesis. These innovative devices are transforming treatment options and improving quality of life for patients suffering from chronic gastric disorders.
Two main elements are driving this growth:
- Technological developments: Patients with chronic stomach disorders like gastroparesis now have a more accurate and maybe more successful therapy option because of the development of high-frequency gastric electrical stimulators. This illness results in delayed stomach emptying, which can induce vomiting, nausea, and malnourishment. For the management of these problems, high-frequency stimulators provide a minimally intrusive option.
- Management of chronic diseases: There is an increased need for efficient treatment options due to the growing incidence of chronic diseases such as gastroparesis. For patients who have not responded well to conventional drugs or therapy, gastric electrical stimulators offer a dependable and long-term option.
Gastric electrical stimulators are predicted to become more and more in demand due to the growing senior population’s susceptibility to chronic digestive disorders and the growing emphasis on minimally invasive therapies. This pattern, along with continuing technological developments, bodes well for the stomach electrical stimulator industry.
Gastric Electrical Stimulators Market 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 in the Gastric Electrical Stimulators Market
- 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 INSPIRE 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.
Gastric Electrical Stimulators Market Key Companies Profiled:
- Medtronic Plc.
- IntraPace Inc.
- ReShape Lifesciences Inc.
- Changzhou Ruishen Medical Equipment Co. Ltd.
- Chen Tao Medical Equipment
- Rishena Co. Ltd.
- Enterra TM
Key Segments of Gastric Electrical Stimulators Market 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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