The global gastric electrical stimulator market is poised for substantial growth, with its valuation estimated at USD 240.6 million in 2023. Propelled by rising adoption of these devices for treating gastric motility disorders, the market is projected to expand at a compound annual growth rate (CAGR) of 6.1% over the forecast period of 2023 to 2033, reaching approximately USD 433.8 million by 2033.
Gastric electrical stimulators, which deliver mild electrical pulses to the stomach muscles, are increasingly utilized to manage conditions like gastroparesis and chronic nausea. The rising prevalence of gastrointestinal disorders and advancements in medical technology are significant drivers of market growth.
Key Market Trends and Drivers:
- Increasing diagnosis of gastroparesis and demand for minimally invasive treatment options.
- Technological advancements in device design and functionality, enhancing patient comfort and outcomes.
- Expanding healthcare access and growing awareness in emerging markets.
This growth trajectory highlights the critical role of gastric electrical stimulators in improving the quality of life for patients with chronic gastric conditions.
- Market Drivers:
- The increasing prevalence of chronic gastrointestinal disorders, particularly gastroparesis, is a primary driver of market growth.
- Advancements in gastric electrical stimulation technology, including high-frequency stimulators, are enhancing treatment effectiveness and expanding their applications.
- Applications: Gastric electrical stimulators are primarily used to manage conditions such as:
- Gastroparesis
- Obesity
- Refractory nausea
- Market Dynamics: The market is characterized by ongoing innovation and the introduction of new products aimed at improving patient outcomes. Manufacturers are focusing on strategies like product launches and partnerships to expand their market presence.
The Dynamic Landscape in the Start-up Ecosystem
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.
Key Companies Profiled
Medtronic Plc.; IntraPace Inc.; ReShape Lifesciences Inc.; Changzhou Ruishen Medical Equipment Co. Ltd.; Chentao Medical Equipment; Rishena Co. Ltd.; Enterra TM
A Full Report Analysis
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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