According to Future Market Insights (FMI), the global Sleep Apnea Implants Market demand is expected to grow at an astounding 17.3% CAGR from 2021 to 2031.
Obstructive sleep apnea (OSA) is a serious sleep disease that raises the likelihood of a fatal accident. The need for technologically sophisticated Sleep Apnea Implants and developments will be high, allowing the market to expand in the coming years.
According to a medical journal published in the US National Library of Medicine – National Institutes of Health, sleep-related disorders affect 30% of the global population. These problems are more common in working professionals and older people.
Insomnia, jet lag, narcolepsy, and sleep walking are all misdiagnosed sleep disorders. Government and non-government organisations around the world are launching public awareness campaigns to educate the public about the significance of sleep and the use of sleep apnea equipment.
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The National Sleep Foundation, for example, will observe Sleep Awareness Week in March 2020, with the subject “My Sleep Health.” Such efforts will increase demand for sleep apnea equipment, creating profitable prospects for market participants.
The COVID-19 epidemic has disturbed medical practises worldwide, causing delays in sleep apnea therapy procedures and patient screening for treatment eligibility. Nonetheless, the market will increase steadily after the pandemic, according to the ESOMAR-certified business FMI in this report.
“Increasing focus on spreading awareness on sleep-related disorders, importance of sleep, and rising investments in research & development in the sector will assist the market growth in near future,” remarks the FMI analyst.
Key Takeaways:
- According to FMI’s research, the OSA category would dominate the market, accounting for 90% of the market share throughout the projection period.
- In the Sleep Apnea Implants market, hypoglossal neurostimulation devices will see an increase in demand.
- The hospital segment will see an increase in the number of sleep apnea patients, emerging as the leading end user.
- Growth prospects in the United States appear promising, owing to the high prevalence of sleep disorders and the government’s concerted efforts to educate people about sleep-related problems.
- In Germany, private health insurance, favourable regulatory circumstances, and favourable reimbursements are drawing expansion potential.
- Increasing affordability of healthcare services and prevalent cases of sleep-related disorders will make China a lucrative market.
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Prominent Drivers:
- Government prescription reformation standards may attract end-users, increasing demand for Sleep Apnea Implants.
- Implementation of sleep awareness programmes will increase demand for technologically improved Sleep Apnea Implants, fueling market expansion.
- The growing popularity of sleep apnea technologies such as wearables will give chances for expansion for firms in the field.
Competitive Landscape
Prominent players operating in the Sleep Apnea Implants market are aiming for higher investments to expand their offerings across the globe. Additionally, players are also focusing on acquisitions and collaborations to expand their product portfolio. For instance:
- In April 2021, Zoll Medical Corporation, a subsidiary of Asahi Kasei Company, acquired Resipicardia, Inc., to combine its cardiac and respiratory care expertise.
- In March 2021, Inspire Medical Systems, Inc. received FDA approval for their improved surgical implant procedure for Inspire Airway Therapy for OSA. The new procedure reduced average procedure time for Inspire therapy by approximately 20%.
Leading Players Profiled by FMI in the Sleep Apnea Implants Market include:
- Inspire Medical Systems
- Respicardia, Inc.
- Medtronic Plc
- LinguaFlex LLC
- Siesta Medical, Inc.
- Pillar Palatal LLC/ The Snoring Center
- Nyxoah SA
- LivaNova/ImThera
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More Insights on FMI’s Sleep Apnea Implants Market
The latest market study on global Sleep Apnea Implants market by Future Market Insights gives a detailed segmentation for the forecast period of 2021 to 2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Product
- Phrenic Nerve Stimulator
- Hypoglossal Neurostimulation Devices
- Bone Screw Implant System
- Flexible Tongue Retractor System
- Palatal Implants/Pillar Procedure
Indication
- Central Sleep Apnea
- Obstructive Sleep Apnea (OSA)
End User
- Hospitals
- Ambulatory Surgical Centers
- Office Based Clinics
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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