The global gastric electrical stimulator market is poised for substantial growth over the next decade, according to recent industry projections. Valued at USD 240.6 million in 2023, the market is expected to expand at a robust compound annual growth rate (CAGR) of 6.1% from 2023 to 2033, reaching an estimated valuation of USD 433.8 million by 2033.
Gastric electrical stimulators are advanced medical devices used to treat chronic conditions such as gastroparesis by sending high-frequency electrical pulses to the stomach muscles. These devices have shown significant promise in managing symptoms and improving the quality of life for patients with severe gastrointestinal disorders.
The introduction of cutting-edge high-frequency gastric electrical stimulators is anticipated to drive market growth, offering enhanced efficacy and better patient outcomes. The growing prevalence of chronic gastrointestinal illnesses, combined with advancements in medical technology, is transforming the market landscape and creating new opportunities for innovation and investment.
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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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