According to the report, the global demand for the gastric electrical stimulators market was valued at approximately USD 140.3 million in 2018 and is expected to generate revenue of around USD 220.2 million by end of 2025, growing at a CAGR of around 6.7% between 2019 and 2025.
The report covers forecasts and analyses for the global gastric electrical stimulators market. The study provides historic data from 2016 to 2018 along with forecasts from 2019 to 2025 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports, and other sources have also been considered to arrive at the indicated market numbers.
Gastric electrical stimulators are small battery operated neurostimulators that are implanted beneath the skin in the lower abdomen area to treat gastroparesis. It consists of insulated wires that are implanted in the muscle wall of the stomach and then connected to the neurostimulator which delivers mild electric pulses that stimulate the lower stomach and control symptoms like vomiting and chronic nausea in patients aged from 18 to 70 years. Currently, there is only one type of therapy approved by the U.S. FDA in the market for the treatment of gastroparesis known as the Enterra therapy system which is based on the humanitarian device exemption.
The study provides a decisive view of the gastric electrical stimulators market by segmenting the market based on product, end user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on the product the market is bifurcated into low frequency gastric electrical stimulators and high frequency gastric electrical stimulators. The low-frequency gastric electrical stimulators segment held the major share of the market.
On the basis of end users, the market is divided into clinics, ambulatory surgical centers, hospitals, and others. The hospital's segment held the major share of the market and is likely to grow at a high CAGR in the forecast period since these devices at the time require longer hospital stays. Regional segmentation includes the current and forecast demand for the Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. North America held the major share of the market in 2018 owing to a large number of gastrointestinal procedures being carried out in this region along with a high prevalence rate of gastroparesis and favorable reimbursement scenario, especially in the U.S.
The study also includes drivers and restraints for gastric electrical stimulators along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the gastric electrical stimulators market on a global level. The growing prevalence of gastroparesis is one of the major factors driving the market growth of gastric electrical stimulators market globally. Besides, favorable reimbursement policies and support from regulatory bodies to manage this rare condition are other factors driving the market growth.
The report also provides a company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required format. ZMR develops a list of industry players (manufacturers), distributors, retailers, and industry experts. Currently, Medtronic Plc is the company offering gastric electrical stimulators in the market.
The report segments the gastric electrical stimulators market as follows: