Global Gastric Electric Stimulators Market, By Product Type (High Frequency GES Devices, Low Frequency GES Devices), Indication (Gastroparesis, Obesity, Refractory Nausea, Others), End User (Hospitals, Outpatients Center), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Gastric Electric Stimulators Market
The gastric electric stimulators market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 6.5% in the forecast period of 2021 to 2028 and is expected to reach USD 386.62 million by 2028. The rise in the rate of minimally invasive surgeries is escalating the growth of gastric electric stimulators market.
Gastric electrical stimulator (GES) refers to a small, battery-operated gastric neurostimulator implanted beneath the skin in the lower abdominal area of the body for the treatment for gastroparesis. The device is made up of two insulated wires known as leads which get implanted in the stomach wall muscle and then connected to the neurostimulator. The leads assist in delivering mild electrical pulses which stimulate the smooth muscles of the lower stomach and manage the symptoms of gastroparesis including vomiting and chronic nausea.
The increasing prevalence of delayed gastric emptying which are known as gastroparesis and favorable reimbursement policies for gastric electric stimulation are the major factors driving the gastric electric stimulators market. The rise in cases of both type 1 and type 2 diabetes and the growth in popularity of high-frequency gastric electric stimulators owning to various features such as less invasive and patient-friendly in terms of insertion and longer battery life accelerate the gastric electric stimulators market growth. The inclination towards minimally invasive surgeries due to the numerous advantages including lower chances of infection, faster recovery, less time consumption and reduced blood loss and growth in geriatric population influence the gastric electric stimulators market. Additionally, rising population, rise in research and development activities and high investment in these research projects and high healthcare expenditure positively affect the gastric electric stimulators market. Furthermore, technological advancement and product innovations extend profitable opportunities to the gastric electric stimulators market players in the forecast period of 2021 to 2028.
On the other hand, the availability of alternative treatment therapies and the low endorsement from regulatory bodies are expected to obstruct the gastric electric stimulators market growth. The concerns regarding the risks associated with the procedures of implants are projected to challenge the gastric electric stimulators market in the forecast period of 2021-2028.
This gastric electric stimulators market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on gastric electric stimulators market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Gastric Electric Stimulators Market Scope and Market Size
The gastric electric stimulators market is segmented on the basis of product type, indication and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product type, the gastric electric stimulators market is segmented into high frequency GES devices and low frequency GES devices.
- On the basis of indication, the gastric electric stimulators market is segmented into gastroparesis, obesity, refractory nausea and others.
- On the basis of end user, the gastric electric stimulators market is segmented into hospitals and outpatients center.
Global Gastric Electric Stimulators Market Country Level Analysis
The gastric electric stimulators market is analyzed and market size insights and trends are provided by country, product type, indication and end user as referenced above.
The countries covered in the global gastric electric stimulators market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the gastric electric stimulators market because of the increasing number of gastrointestinal surgical procedures, rising cases of gastroparesis and favorable regulatory and reimbursement policies in the region. Asia-Pacific is estimated to grow in the forecast period of 2021-2028 due to the large population, adoption of western lifestyle increasing risk of chronic disorders including gastrointestinal disorders, obesity and diabetes in the region.
The country section of the gastric electric stimulators market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The gastric electric stimulators market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for gastric electric stimulators market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the gastric electric stimulators market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Gastric Electric Stimulators Market Share Analysis
The gastric electric stimulators market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to gastric electric stimulators market.
The major players covered in the gastric electric stimulators market report are ANS, EnteroMedics, IntraPace, Medtronic, MetaCure, Rishena among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.