The gastric electric stimulators market landscape portrays monopoly of leading players who account for more than 50% of the overall revenue share. Gastric electric stimulators manufacturers will be competing on the basis of price and remain focused on expanding their geographical presence.
In addition, the leading players in the gastric electric stimulators market will continue to engage in strategic collaborations, including mergers and acquisitions among various neurostimulation devices manufacturers, to boost their product portfolio and enhance their customer outreach.
Gastric Electric Stimulators Market- Development of Potential & Advanced Treatment Options to Favor Revenue Growth
On-going and continual development in the potential treatment options and advancements in medical device technologies and therapies are likely to propel growth of gastric electric stimulators market. With the rising demand for advanced methodologies to treat gastrointestinal disorders and obesity, growing adoption of gastric electric stimulators remains undeniable.
Development of medical devices and rising demand for non-invasive procedures are also among the key aspects enhancing visibility of gastric electric stimulators. This, in turn, is estimated to create incremental opportunities for growth of global gastric electric stimulators market.
Gastric Electric Stimulators Market- Increasing Prevalence of Gastroparesis to Necessitate Adoption
Rising incidences of gastroparesis over the past few years have significantly necessitated advanced methods and equipment facilitating effective surgeries, including gastric electric stimulators. This, in turn, is likely to create prime opportunities for the manufacturers of gastric electric stimulator from an investment-making standpoint.
Increase of hospitalization cases associated with gastroparesis has significantly taken off over the past few years, creating favorable scenario for gastric electric stimulators market in the upcoming years.
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Gastric Electric Stimulators Market- Burgeoning Investments in Healthcare Infrastructure & Favorable Reimbursements to Fuel Adoption
With care delivery and patient centricity being at the top of the agenda, the healthcare sector is set to witness remarkable transformations, backed by rising number of investments. This, in turn, is likely to translate into influx of advanced medical procedures and equipment in the healthcare arena, favoring growth of gastric electric stimulators market.
Moreover, favorable reimbursements remains a key broad factor boosting adoption of gastric electric stimulators in the forthcoming years. Introduction of numerous health insurance schemes, primarily across the under-developed and developing economies, is estimated to underpin the growth of gastric electric stimulators market in the upcoming years.
Consistent pressure to commercialize products at affordable prices, in line with rising end-user demand for cost-effective options, is likely to create challenges for the manufacturers in the gastric electric stimulators market. Gastric electrical stimulation, albeit receiving wide-spread acknowledgement as a viable treatment for gastroparesis, carries specific risks that are predominantly responsible for the declining demand of gastric electric stimulators.
Multiple side effects, including bleeding, infection, pain at the site of implantation, inflammation, and other critical risk factors, which might result in unwanted complications and unpleasant experiences, are likely to hamper growth of gastric electric stimulators market.
Gastric Electric Stimulators Market- Competitive Dashboard
Some of the key manufacturing companies operating in the gastric electric stimulators market space include ReShape Lifesciences, Inc., IntraPace Inc., Changzhou Ruishen Medical Equipment Co., Ltd, Medtronic Plc., and others. The key players have been featured in the report based on multiple factors, including differential strategies, advertising approaches, product offerings, geographical presence, and key focus areas.
The leading manufacturers operating in the global gastric electric stimulators market will continue to focus on commercializing technologically advanced products with enhanced functionality and reliability.
Based on Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
Based on Product Type
- high frequency gastric electric stimulators devices
- low frequency gastric electric stimulators devices
Based on Indication
- refractory nausea