Research Report Explores The Gastric Electric Stimulators Market Will Be Valued At US$ 188.4 Million By 2026
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The global adoption of gastric electric stimulators is projected to witness a surge in demand in 2019, representing a robust year-on-year growth of 6.6 percent, reach a valuation of approximately US$ 188.4 Million, during the same period. Persistence Market Research (PMR) has studied the global gastric electric stimulators market for a period of 8 years, 2018–2026, offering critical insights into demand-driving factors, shaping the adoption trajectory.
The demand for gastric electric stimulators is likely to be driven by a host of pacesetters, including increasing minimally invasive procedures, rising reported cases of Gastroparesis, and favorable reimbursement schemes. Growing prevalence of Gastroparesis—a condition characterized by severity of nausea and vomiting and composite quality-of-life (QOL)—has been identified as the most critical demand generating factor, further making gastric electric stimulators the most preferred treatment alternative for such difficult-to-treat diseases.
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Company Profiles
- Medtronic Plc.
- IntraPace Inc.
- ReShape Lifesciences, Inc.
- Changzhou Ruishen Medical Equipment Co., Ltd
- Others.
“Enterra system, the most principal medical device used for treating Gastroparesis, globally, is approved by the FDA as a humanitarian use device, considering its applicability is treating or diagnosing a disease or condition affecting less than 4000 individuals a year in the United States.
Moreover, the American College of Gastroenterology (ACG), although conditionally, recommends the use of gastric electric stimulators for patients with chronic, intractable nausea and vomiting due to Gastroparesis. The gastric electric stimulators, such as Enterra, is a battery-operated gastric neurostimulator, which is normally implanted under the skin in the lower abdomen region”, Senior Analyst, PMR
Considering the rareness of Gastroparesis combined with increasing prevalence of gastric-related conditions, investments in research and clinical studies have substantially increased in the recent years.
Studies indicate that gastric electric stimulators have the ability to normalize symptoms, such as BMI, oral nutritional intake, and gastric emptying rates. Moreover, considered as an effective alternative to gastrectomy in patients with end-stage gastric dysfunction, demand for gastric electric stimulators is anticipated to increase 1.6x, through 2026.
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High-Frequency Gastric Electric Stimulators Gain Prominence
According to the report, high-frequency gastric electric stimulators is gaining immense traction as one of the highly effective product type, versus low-frequency gastric electric stimulators.
Apart from being less invasive and more patient-friendly in terms of insertion, high-frequency gastric electric stimulators are known to have a relatively longer battery life compared to low-frequency gastric electric stimulators.
In addition, gastric electrical stimulation with high-frequency significantly improved the severity of nausea and vomiting combined with enhanced propagation velocity and slow wave amplitude. As per the report, high-frequency gastric electric stimulators with approximately 77 percent market share, is expected to ameliorate the treatment landscape for Gastroparetic patients.
“Although gastric electrical stimulation is the most viable treatment for chronic drug-refractory nausea and vomiting secondary to Gastroparesis of idiopathic or diabetic etiology, risks associated with Enterra Therapy remain exceptionally high, thereby limiting its adoption. Infection, bleeding, pain at the implant site, lead penetration, gastric and bowel perforation, and inflammation are some critical risks that often result in additional surgeries and unpleasant patient experience”, Senior Analyst, PMR
In the wheel of fortune analysis of various segments, PMR placed different segments including product type, end-user, indication, and region in various growth quadrants. While high frequency gastric electric stimulators is placed in the mature phase quadrant, low-frequency gastric electric stimulators are anticipated to showcase high CAGR, in the coming years.
Since, the implantation of gastric electric stimulators requires precision, only hospitals having institutional review board’s approval can use such stimulators on Gastroparetic patients. In terms of end-user, hospitals are projected to hold approximately 75 percent of the total market share. On the basis of indication, obesity, after Gastroparesis is expected to be the second most lucrative segment in the global gastric electric stimulators market during the forecast period.
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Regionally, North America retains its lead as the largest and most lucrative gastric electric stimulators market, with nearly 57 percent market share anticipated by the end of 2018. Growing investments in R&D activities, on-going innovations, and presence of key companies are some major factors creating attractive opportunities in the gastric electric stimulators market, across North America.
The competitive landscape in the global gastric electric stimulators market is relatively consolidated, with key tier-1 players such as Medtronic Plc. contributing approximately 5o percent revenue share to the global gastric electric stimulators market, given their superior product offering and expansive regional presence.
In terms of differentiation strategies, key companies are poised to enter into partnerships and collaborations to solidify their market presence. In addition, key companies are also strengthening their product portfolios by developing potential treatment options for gastrointestinal disorders.
Report Highlights:
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
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