Global gastric electrical stimulators market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Gastric electrical stimulator (GES) is also termed, as implantable gastric stimulator is a device used to manage gastroparesis.
The factors that are playing a major role in the growth of the market are government initiative by funding for healthcare infrastructure, the availability of favorable reimbursement policy, the growing geriatric population, and a growing number of cases related to diabetes (type 1 and type 2), obesity, and gastroparesis. However, lack of skilled professionals may restrain overall market growth in the years to come. Gastric electrical stimulator market is segmented based on product type, indication, end-user, and region.
Low and high frequency GES devices are the product types that are explored in gastric electrical stimulator in the forecast period. Low gastric electrical stimulator device sector is estimated to grow at the higher CAGR in the years to come.
Based on indication, refractory nausea, gastroparesis, obesity, and others classify gastric electrical stimulators market. Gastroparesis sector accounted for the substantial market share of gastric electrical stimulator and is estimated to lead the overall market in the years to come. The reason could be the growing number of patients suffering from gastroparesis. Also, the number of patients with obesity is estimated to grow at the highest in the years to come.
The gastric electrical stimulator market is categorized based on end-users like ambulatory surgical centers, hospitals, clinics, and others. Hospital sector accounted for the substantial market share of gastric electrical stimulator and is estimated to lead the overall market in the years to come. The reason could the high demand and institutional review board’s approval to use stimulators for gastroparesis patients. In addition, ambulatory surgical sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted for the substantial market share of gastric electrical stimulator and is estimated to lead overall market in the years to come. The reason behind overall market growth could be the rising awareness among healthcare professionals regarding gastroparesis, availability of effective treatment options, the presence of developed healthcare infrastructure with latest technology, and the growing geriatric population. The United States is a major consumer of gastric electrical stimulator in this region. The reason could be approval of the Enterra Therapy System by FDA.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second larger region with significant market share. However, Asia Pacific is estimated to grow at the higher CAGR in the forecast period. The developing countries like India and China are the major consumers of gastric electrical stimulator in this region. The aspects that may be ascribed to the growth comprise growing awareness regarding gastroparesis and the developing healthcare infrastructure.
The key players of gastric electrical stimulator market are Changzhou Ruishen Medical Equipment Co., Ltd., Medtronic Plc., IntraPace Inc., and ReShape Lifesciences, Inc. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
• North America
• Asia Pacific
Key Questions Answered in this Report
• What will the market size be in 2022?
• What are the key factors driving the global gastric electrical stimulator market?
• What are the challenges to market growth?
• Who are the key players in the gastric electrical stimulator market?
• What are the market opportunities and threats faced by the key players?
Research Support Specialist, USA