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Gastric Electrical Stimulators Market Size
Gastric Electrical Stimulators Market size will expand considerably during 2024-2032 owing to increasing utilization to treat post-surgery etiology and gastroparesis. Gastric electrical stimulators or gastric pacemakers are used to treat obesity and diabetes. As per the World Obesity Atlas 2023, 38% of the world’s population is overweight or obese. Additionally, more than half a billion people worldwide had diabetes in June 2023, with the value expected to soar to 1.3 billion during the next 30 years. Such a rising prevalence of obesity and diabetic patients across the world is surging the demand for gastric electrical stimulators.
While simulators play a vital role in managing several chronic disorders, they also come with disadvantages. Multiple complications can arise from the usage of gastric pacemakers, such as bowel obstruction, bleeding, and gastric perforation, leading to their limited acceptance and slowed down market gains.
Gastric Electrical Stimulators Market Trends
Ongoing innovations, such as miniaturization, improved battery life, and enhanced programming capabilities are revolutionizing gastric electrical stimulator devices. These advancements offer more precise and customizable treatment options for patients with gastroparesis and other gastrointestinal disorders. Furthermore, technological improvements have led to the development of wireless and implantable stimulators for increasing patient comfort and convenience. The evolving technology landscape for attracting healthcare providers and patients alike will also augment the industry outlook.
Gastric Electrical Stimulators Market Analysis
Based on product type, the high-frequency stimulator segment is predicted to record an appreciable CAGR through 2032 attributed to its many advantages when compared with its low-frequency counterparts. Also, factors, such as longer battery life as opposed to low-frequency stimulators and the rising patient preference for minimally invasive surgeries can prompt patients to choose high-frequency stimulators.
According to application, the gastric electrical stimulators market is segmented into obesity, gastroparesis, and others. The market revenue from the gastroparesis segment is estimated to increase rapidly between 2024 and 2032 as the disease is one of the leading disorders that can result in dehydration caused by constant vomiting, poor quality of life, and low-calorie intake. Diabetes is also considered one of the key causes of gastroparesis. The International Diabetes Foundation (IDF) estimates that more than 700 million adults across the world will be diagnosed with diabetes by 2045, further driving the product usage.
The U.S. gastric electrical stimulators market is set to exhibit robust growth from 2024-2032 attributed to the vast presence of trained healthcare practitioners and surgeons. People across the country are becoming more aware of various health conditions, such as gastroparesis and are participating in appropriate training sessions to be well equipped for surgeries that arise from the disease. Gastroparesis has grown common in the U.S., with 50 out of 100,000 people being diagnosed with the disease each year. Additionally, a well-established healthcare infrastructure equipped with the latest technologies.
Gastric Electrical Stimulators Market Share
Major gastric electrical stimulators companies include-
- Medtronic
- Intrapace
- Rishena Co., Ltd.
- MetaCure
- EnteroMedics
Key gastric electrical stimulators industry participants are focusing on research, product development, and strategic partnerships to advance treatment options and expand market their reach. To illustrate, Medtronic has been offering innovative devices like Enterra™ II for gastroparesis with strong focus on research and technology to improve the patient outcomes.
Gastric Electrical Stimulators Industry News
- In October 2023, Enterra Medical's implanted electrical stimulation device received U.S. FDA approval for restricted use with magnetic resonance imaging to treat gastroparesis symptoms.
- In March 2023, Medtronic collaborated with Google to develop Gastric electrical stimulators with AI. This collaboration intended to develop a cutting-edge stimulator that can adapt to each patient's unique demands for possibly changing therapy efficacy and customization.