Gastric Electrical Stimulators Market Forecasted to Expand at a 6.4% CAGR by 2030 - Persistence Market Research

Overview of the Gastric Electrical Stimulators Market

The global market for gastric electrical stimulators is projected to experience steady growth, with a compound annual growth rate (CAGR) of 6.4%, increasing from a market size of USD 250 million in 2023 to USD 386 million by 2030. This growth is driven by several factors, including the increasing prevalence of gastroparesis, rising obesity rates, and advancements in treatment technology. The demand for gastric electrical stimulation devices has particularly surged due to the rising number of cases of gastroparesis and the growing focus on obesity-related treatments.

The market is dominated by the increasing adoption of high-frequency gastric electrical stimulators due to their extended battery life and improved patient comfort. North America holds the largest share of the gastric electrical stimulators market, primarily driven by the high incidence of gastroparesis and favorable reimbursement policies. The growing healthcare infrastructure in Asia Pacific is also contributing to the expansion of the market, with countries like China and India witnessing a significant rise in chronic diseases such as obesity and diabetes.

Get a Sample PDF Brochure of the Report (Use Corporate Email ID for a Quick Response): https://www.persistencemarketresearch.com/samples/25954

Key Highlights from the Report

• The global market for gastric electrical stimulators is expected to grow at a CAGR of 6.4% from 2023 to 2030.
• Gastroparesis remains the primary application area for gastric electrical stimulation devices.
• North America, led by the US, is the largest regional market for gastric electrical stimulators.
• High-frequency gastric electrical stimulators are projected to lead the market due to their extended battery life and less invasive nature.
• The increasing prevalence of obesity and diabetes is contributing to the growing demand for GES devices.
• Advancements in wireless and compact GES devices offer significant growth opportunities for the market.

Market Segmentation

The gastric electrical stimulators market is segmented by product type, application, and end-user, with each category demonstrating unique trends and opportunities for growth.

Product Type

The market is primarily divided into low-frequency and high-frequency gastric electrical stimulators. High-frequency stimulators dominate the market, driven by their longer battery life and less invasive nature, making them more attractive for patients and healthcare providers. These stimulators are easier to implant, offer better patient outcomes, and require fewer follow-up procedures compared to their low-frequency counterparts. As the technology continues to improve, the high-frequency segment is expected to maintain its leadership position throughout the forecast period.

End-User

Hospitals and clinics are the largest end-users of gastric electrical stimulators. With the increasing number of gastroparesis treatments performed in these healthcare facilities, hospitals remain the focal point for the adoption of GES devices. Additionally, the growing infrastructure of healthcare facilities, especially in regions like North America and Asia Pacific, is contributing to the market's expansion. As more patients with obesity and gastroparesis seek treatment, healthcare providers are increasingly turning to GES as a viable solution for managing these conditions.

Regional Insights

North America

North America holds the largest share of the gastric electrical stimulators market, primarily due to the high prevalence of gastroparesis and the region's advanced healthcare infrastructure. The United States is a key player in this market, with increasing numbers of gastrointestinal surgical procedures and favorable reimbursement policies for GES devices. Additionally, the prevalence of diabetes, a major risk factor for gastroparesis, further fuels the demand for gastric electrical stimulators in the region.

Asia Pacific

The Asia Pacific region is expected to witness significant growth in the gastric electrical stimulators market. This growth is attributed to the rising prevalence of chronic diseases like diabetes, obesity, and gastrointestinal disorders in developing countries. As healthcare infrastructure improves and awareness about gastric electrical stimulation systems increases, countries such as China, India, and Japan are poised to drive market expansion. Additionally, the region's aging population and the growing burden of chronic diseases make it a highly lucrative market for GES devices.

Market Drivers

Several factors contribute to the growth of the gastric electrical stimulators market:

Rising Incidence of Gastroparesis

Gastroparesis, a chronic condition that affects the stomach's ability to empty properly, is on the rise worldwide, particularly among diabetic patients. The global prevalence of gastroparesis has increased, and it is now recognized as a significant health issue in many countries. Gastric electrical stimulation provides an effective treatment for managing this condition, driving the demand for these devices.

Growing Obesity Rates

Obesity has become a global epidemic, with the World Health Organization (WHO) reporting that global obesity rates have nearly tripled since 1975. Obesity is a major risk factor for gastroparesis and other gastrointestinal disorders, which in turn drives the demand for gastric electrical stimulation devices. As obesity rates continue to climb, the need for treatments like GES devices will also increase.

Technological Advancements

The development of more advanced, patient-friendly devices is also fueling market growth. High-frequency stimulators, wireless devices, and compact systems are expected to drive innovation and adoption in the market. The introduction of wireless and rechargeable devices is particularly promising, as these systems offer more convenience and reduce the need for invasive surgeries.

Market Restraints

While the gastric electrical stimulators market is experiencing growth, several factors could hinder its expansion:

Complications from Device Implantation

Complications related to the implantation of gastric electrical stimulators, including infection, bleeding, and device malfunctions, pose risks for patients. Additionally, there are concerns regarding the long-term efficacy and safety of these devices. Such complications could deter patients and healthcare providers from opting for GES treatments.

Regulatory Barriers

Currently, there are limited approvals for GES devices for obesity treatment, with the U.S. Food and Drug Administration (FDA) yet to approve any devices for this indication. Regulatory barriers and concerns over the long-term safety of GES devices may slow market adoption in certain regions.

Market Opportunities

Despite these challenges, there are ample opportunities for growth in the gastric electrical stimulators market:

Increasing Demand for Wireless Devices

The development of wireless and compact gastric electrical stimulators offers new opportunities for market players. These devices are more patient-friendly, as they eliminate the need for invasive surgeries and offer more flexibility in terms of device management. The increasing demand for non-invasive and patient-centered healthcare solutions is likely to drive the adoption of these advanced systems.

Expansion into Emerging Markets

As healthcare infrastructure improves in emerging markets, particularly in Asia Pacific and Latin America, the adoption of gastric electrical stimulators is expected to rise. The growing awareness of gastrointestinal disorders and the increasing burden of chronic diseases present significant opportunities for market expansion.

Reasons to Buy the Report

✔ Comprehensive Market Insights: Understand the current market size, trends, and growth prospects.
✔ Competitive Intelligence: Gain insights into key players and strategies shaping the market.
✔ Technology Trends: Learn about the latest technological advancements in gastric electrical stimulators.
✔ Regional Market Analysis: Get a detailed analysis of market trends and opportunities in different regions.
✔ Informed Decision-Making: Make data-driven decisions with market forecasts and strategic recommendations.

Frequently Asked Questions (FAQs)

• How Big is the Gastric Electrical Stimulators Market?
• Who are the Key Players in the Global Market for Gastric Electrical Stimulators?
• What is the Projected Growth Rate of the Gastric Electrical Stimulators Market?
• What is the Market Forecast for Gastric Electrical Stimulators in 2032?
• Which Region is Estimated to Dominate the Gastric Electrical Stimulators Industry through the Forecast Period?

Company Insights

Key Players

1. Medtronic Plc.
2. IntraPace Inc.
3. ReShape Lifesciences Inc.
4. Changzhou Ruishen Medical Equipment Co. Ltd.
5. Chen Tao Medical Equipment
6. Rishena Co. Ltd.
7. Enterra

Recent Developments

1. IntraPace's INSPIRES Control Wireless Stomach Electrical Stimulator: In 2021, IntraPace launched a wireless gastric electrical stimulator, offering a more patient-friendly and less invasive treatment option.

2. Medtronic's Enterra II Gastric Neurostimulator: In March 2020, Medtronic introduced a programmable implantable device designed to treat chronic nausea and vomiting caused by gastroparesis, marking a significant advancement in the field.

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

Contact Us:

Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

This release was published on openPR.