Gastric Electrical Stimulators Market Is Expected To Reach US$ 192.2 Mn by 2027
The latest market report published by Credence Research, Inc. “Global Gastric Electrical Stimulators Market - Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global gastric electrical stimulators market was valued at US$ 108.3 Mn in 2018, and is expected to reach US$ 192.2 Mn by 2027, expanding at a CAGR of 6.7% from 2019 to 2027.
Pharmacological medicines have been found ineffective in the treatment of gastroparesis in diabetic and elderly population worldwide. Gastric electrical stimulation of the abdominal region has been developed as a viable treatment option in the last few decades for treatment of gastroparesis and obesity. It provides huge opportunity for medical device companies to enter the market due to existence of few players such as Medtronic, Plc, ReShape Lifesciences, Inc etc. However, manufacturers need to rectify drawbacks of implantable gastric electrical stimulators such as gastric bleeding, implant site pain, gastric perforation etc.
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Medical device companies pioneering in gastric electrical stimulators market are Medtronic, Plc., IntraPace, Inc., ReShape Lifesciences, Inc. and Rishena Co., Ltd.
Key Market Movements:
- Rising prevalence of gastroparesis and obesity worldwide
- Existence of few players provides lucrative market opportunity for medical device manufacturers to enter in gastric electrical stimulators market
- Unsatisfactory clinical outcomes in treatment of gastroparesis by traditional pharmacology therapies will further bolster the gastric electrical stimulators market