Gastric Electrical Stimulation Market to Benefit from Advancements in Medical Technology, Reaching US$433.8 Million by 2033 | FMI

The global market for gastric electrical stimulators is poised for significant growth, with a projected valuation of US$ 240.6 million in 2023. According to market analysts, the industry will experience a robust compound annual growth rate (CAGR) of 6.1% between 2023 and 2033, culminating in a total market size of approximately US$ 433.8 million by 2033. Key factors driving this growth include the integration of advanced high-frequency stomach electrical stimulators and their substantial impact on the management of chronic conditions like gastroparesis. These developments are expected to reshape the market landscape in the coming years.

According to the FMI report on the gastric electric stimulators market, sales of gastric electric stimulators are likely to skyrocket in the coming years, owing to an increase in minimally invasive procedures, an increase in reported cases of gastroparesis, and encouraging reimbursement schemes. The increasing prevalence of gastroparesis has been identified as the primary demand generator, making gastric electric stimulators a highly preferred treatment alternative for such difficult diseases.

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 “Enterra system, a critical medical device which is highly used to treat Gastroparesis has received FDA approval as a humanitarian use device, on the back of its potential to treat or diagnose a disease or condition affecting approx. 4000 individuals annually in the United States. Though conditionally, the American College of Gastroenterology (ACG) also recommends adoption of gastric electric stimulators for individuals with chronic, stubborn nausea and vomiting caused by Gastroparesis. The gastric electric stimulators, like Enterra, is a battery-based gastric neurostimulator, which is usually rooted under the skin in lower abdomen part of the body”, Senior Analyst, FMI.

According to the FMI report on the gastric electric stimulators market, given the rarity of Gastroparesis and the prevalence of gastric-related issues, investments in R&D and clinical studies have increased significantly in recent years. Furthermore, the growing acceptance of gastric electric stimulators as an effective alternative to gastrectomy in patients with end-stage gastric dysfunction is expected to significantly accelerate demand for gastric electric stimulators by the end of 2026.

High-Frequency Product Type Gaining Colossal Traction

According to the FMI report, high-frequency variants of gastric electric stimulators are gaining significant traction as one of the most compelling product types, as opposed to low-frequency variants of gastric electric stimulators. According to the FMI gastric electric stimulators market report, high-frequency variants of gastric electric stimulators are not only minimally invasive and extremely patient-friendly in terms of insertion, but also have a comparatively longer battery life than low-frequency variants. Furthermore, according to FMI analysis, with over 75% market share in gastric stimulators, high-frequency variants of gastric electric stimulators are likely to improve the Gastroparetic treatment landscape.

Though, gastric electrical stimulation makes the most viable treatment option for chronic drug-refractory nausea and vomiting peripheral to Gastroparesis of idiopathic or diabetic etiology, Enterra Therapy associated risks remain exceptionally high, thereby hampering the adoption of gastric electric stimulators.

North America Gastric Electric Stimulators Market Remains Lucrative

According to the FMI Gastric Electric Stimulators Report, North America is likely to maintain its market dominance between 2018 and 2026. Growing investments in medical studies and R&D activities, ongoing technological advancements and innovations, and the presence of several leading market players are other key factors paving the way for lucrative opportunities in the gastric electric stimulators market across North America, according to the FMI report.

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According to the gastric electric stimulators market report, the global gastric electric stimulators market will remain highly consolidated, with market Mughals accounting for approximately 5o% of global revenue share, owing to their superior product offering and extensive demographic presence. Furthermore, in order to capitalise on the growing demand for gastric electric stimulators, leading market players are planning collaborations and acquisitions of local players in order to strengthen their market presence.

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