The global market for gastric electrical stimulators was valued at US$ 108.3 million in 2018 and is expected to reach US$ 192.2 million by 2027, expanding at a CAGR of 6.7 percent from 2019 to 2027.
The latest market report published by Credence Research, Inc. “Global Gastric Electrical Stimulators Market – Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global gastric electrical stimulators market was valued at US$ 108.3 Mn in 2018, and is expected to reach US$ 192.2 Mn by 2027, expanding at a CAGR of 6.7% from 2019 to 2027.
Pharmacological medicines have been found ineffective in the treatment of gastroparesis in diabetic and elderly populations worldwide. Gastric electrical stimulation of the abdominal region has been developed as a viable treatment option in the last few decades for the treatment of gastroparesis and obesity. It provides a huge opportunity for medical device companies to enter the market due to the existence of a few players such as Medtronic, Plc, ReShape Lifesciences, Inc, etc. However, manufacturers need to rectify the drawbacks of implantable gastric electrical stimulators such as gastric bleeding, implant site pain, gastric perforation, etc.
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High-frequency gastric stimulators are holding the largest market share in gastric electrical stimulators market. The chief parameters influencing its market growth are excellent clinical outcomes during the treatment of gastropareses such as reducing the severity of nausea and vomiting. Its long battery life further increases its demand in the gastric electrical stimulators market. Low-frequency gastric stimulators are applied in the serosa region of the stomach as an external device to increase the amplitude of gastric slow waves and thereby improve the gastric emptying time in diabetic and elderly patients.
Gastroparesis is dominating the indication segment for the gastric electrical stimulation market. It is recognized by clinical manifestation such as delayed gastric emptying, chronic constipation, nausea, and vomiting. The risk factors associated with gastroparesis are diabetes, gastric ulcers, old age etc. Obesity is on a constant rise worldwide due to the growing incidence in children and adults of all age groups. Increasing consumption of junk food, sedentary lifestyle, and stress are responsible for the occurrence of obesity at an early age.
North America represents a market share of 42.5% and is the clear leader in the global regional segment for gastric electrical stimulators market. The primary factors influencing its market growth are the rising prevalence of gastrointestinal disorders. In the last 2 decades, there has been a substantial increase in the number of diabetic patients suffering from gastroparesis in the United States. Increasing consumption of fast food further delays gastric emptying time and provides a lucrative market opportunity for gastric electrical stimulators market growth. Europe accounts for 35.2% market share on account of the rising prevalence of obesity and the geriatric population suffering from delayed gastric emptying time. Strategic agreement between clinical research institutes and medical device manufacturers will further bolster the gastric electrical stimulators market growth in the region. The Asia Pacific holds 15.7% market share and is set to register impressive growth in the near future owing to developing healthcare infrastructure and rising public health awareness related to gastroparesis and obesity and its effective treatment by electrical stimulation device.
Medical device companies pioneering in gastric electrical stimulators market are Medtronic, Plc., IntraPace, Inc., ReShape Lifesciences, Inc. and Rishena Co., Ltd.
Key Market Movements:
Rising prevalence of gastroparesis and obesity worldwide
Existence of a few players provides a lucrative market opportunity for medical device manufacturers to enter in gastric electrical stimulators market
Unsatisfactory clinical outcomes in the treatment of gastroparesis by traditional pharmacology therapies will further bolster the gastric electrical stimulators market
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Key research study highlights comprise:
a. Exhaustive research and analysis of the global gastric electrical stimulators industry
b. The key market segments along have been explained in the report thoroughly along with their existing and estimated market size
c. Major elements of market dynamics such as drivers, challenges and opportunities and their effect on the gastric electrical stimulators market are also covered in the report
d. Key players operating in the market are profiled and accompanied by the competitive landscape evaluated on the basis of product offering & business strength
e. Cross-sectional analysis of each region covering individual segments for the forecast period 2019 – 2027 in terms of value (US$ Mn)
The participants tracked for primary interviews include:
• Marketing/product managers
• Vice President/ CEOs
• National sales managers
• Market intelligence managers
• Purchasing managers
• Other stakeholders
Chapter 1. Preface
1.1. Report Scope and Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I-Secondary Research
1.3.2. Phase II-Primary Research
1.3.3. Approach Adopted
1.3.4. Top-down Approach
1.3.5. Bottom-up Approach
1.3.6. Phase III-Expert Panel Review
1.4. Market Segmentation
Chapter 2. Executive
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Chapter 3. Gastric
Electrical Stimulators Market: Dynamics and Future Outlook
3.1. Market Overview
3.5. Attractive Investment Proposition, by Geography, 2018
3.6. Competitive Analysis: Global Gastric Electrical Stimulators Market, by Key Players, 2018
Chapter 4. Global
Gastric Electrical Stimulators Market, by Product
4.2. Low-Frequency Gastric Electrical Stimulator
4.3. High-Frequency Gastric Electrical Stimulator
Chapter 5. Global
Gastric Electrical Stimulators Market, by Indication
Chapter 6. Global Gastric
Electrical Stimulators Market, by Geography
Chapter 7. Company
7.1. Medtronic, Plc.
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Product Portfolio
7.1.4. News Coverage
7.2. IntraPace, Inc.
7.3. ReShape Lifesciences, Inc.
7.4. Rishena Co., Ltd.
List Of Figure:
FIG. 1 Gastric Electrical Stimulators Market: Research Methodology
FIG. 2 Gastric Electrical Stimulators: Market Segmentation
FIG. 3 Global Gastric Electrical Stimulators Market, by Product, 2018 (US$ Mn)
FIG. 4 Global Gastric Electrical Stimulators Market, by Indication, 2018 (US$ Mn)
FIG. 5 Global Gastric Electrical Stimulators Market, by Geography, 2018 (US$ Mn)
FIG. 6 Attractive Investment Proposition: by Geography, 2018
FIG. 7 Competitive Analysis: Global Gastric Electrical Stimulators Market, by Key Players, 2018
FIG. 8 Global Low-Frequency Gastric Electrical Stimulators Market, 2017 – 2027 (US$ Mn)
FIG. 9 Global High-Frequency Gastric Electrical Stimulators Market, 2017- 2027 (US$ Mn)
FIG. 10 Global Gastroparesis Market for Gastric Electrical Stimulators, 2017 – 2027 (US$ Mn)
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