Gastric Electrical Stimulators Market – Growth, Size, Share, Forecast, industry Analysis 2019 – 2027

Gastric Electrical Stimulators Market – Growth, Size, Share, Forecast, industry Analysis 2019 – 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.

Browse the full report Gastric Electrical Stimulators Market 2019 – 2027 report at https://www.credenceresearch.com/report/gastric-electrical-stimulators-market

Market Insights 

Pharmacological medicines have been found ineffective in the treatment of gastroparesis in diabetic and elderly population worldwide. Gastric electrical stimulation of the abdominal region has been developed as a viable treatment option in the last few decades for treatment of gastroparesis and obesity. It provides huge opportunity for medical device companies to enter the market due to existence of few players such as Medtronic, Plc, ReShape Lifesciences, Inc etc. However, manufacturers need to rectify drawbacks of implantable gastric electrical stimulators such as gastric bleeding, implant site pain, gastric perforation etc.

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 treatment of gastroparesis 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 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.

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Gastroparesis is dominating the indication segment for 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 growing incidence in children and adults of all age group. 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 global regional segment for gastric electrical stimulators market. The primary factors influencing its market growth are rising prevalence of gastrointestinal disorders. In the last 2 decades, there has been substantial increase in the number of diabetic patients suffering with gastroparesis in the United States. Increasing consumption of fast food further delays gastric emptying time and provides lucrative market opportunity for gastric electrical stimulators market growth.

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Europe accounts for 35.2% market share on account of rising prevalence of obesity and geriatric population suffering with delayed gastric emptying time. Strategic agreement between clinical research institute and medical device manufacturers will further bolster the gastric electrical stimulators market growth in the region. 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 few players provides lucrative market opportunity for medical device manufacturers to enter in gastric electrical stimulators market
  • Unsatisfactory clinical outcomes in treatment of gastroparesis by traditional pharmacology therapies will further bolster the gastric electrical stimulators market

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