Sleep Apnea Implants Market Key Players : Medtronic Plc, LinguaFlex LLC, Siesta Medical, Inc., Inspire Medical Systems, Respicardia, Inc.
[229 Pages Report] Rising inclination towards non-invasive procedures and increasing focus on the advancement of sleep apnea devices have created lucrative opportunities for the expansion of the sleep apnea implants market. As per a study by Future Market Insights, application of sleep apnea implants ranges from snoring to sleep-deprived complications. Additionally, an increase in the number of obese and geriatric people is associated with a rise in the prevalence of sleep disorders.
Sedentary and unhealthy lifestyles may lead to heart diseases, diabetes and other diseases, which may lead to sleep disorders. Moreover, the rising global burden of obstructive sleep apnea (OSA) or central sleep apnea that may increase the risk of fatal accidents and the growing number of sleep apnea therapies are expected to boost the sleep apnea market growth during the forecast period.
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Sleep deprivation is also associated with lost productivity. In a study by RAND Corporation, it is stated that in the U.S. there are around 1.2 million lost workdays due to sleep deprivation per year and as a result, the economic impact of productivity losses and higher mortality rates will account for over US$ 400 billion, or 2 per cent of the GDP.
The global sleep apnea implants market was valued at US$ 188.3 Mn in 2021. Based on product type, hypoglossal neurostimulation devices are expected to gain popularity in the sleep apnea implants market, accounting for 80% of the revenue in 2020.
“FDA approvals and product launches of advanced sleep apnea implants along with increasing demand for minimally invasive procedures are driving the growth of the global sleep apnea implants market,” says an FMI Analyst
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Who is Winning?
FDA approvals for sleep apnea implants are aiding the adoption of advanced sleep apnea products. Numerous manufacturers are focusing on the research and development area to innovate advanced products with high safety and efficacy.
In May 2019, Siesta Medical, Inc. (Private), announced FDA clearance for expanded indications for its Encore Tongue Suspension System for the treatment of obstructive sleep apnea.
The sleep apnea implants market is considered diverse due to the presence of various local and international players in the competitive market. Competing to gain a large market share, the players continue to rely upon acquisitions, investments and alliances to provide access to new technologies in both new and existing markets.
For instance, In March 2021, Medtronic plc and Spectrum Health entered into a definitive agreement to drive value in healthcare and improve outcomes for Spectrum Health patients and reduce the cost of care. Additionally, in July 2019, LivaNova acquired Miami Instrument, a manufacturer of minimally invasive cardiac surgery instruments, to diversify its heart valve portfolio.
More Valuable Insights on Sleep Apnea Implants Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each segment from 2014 to 2029. The global sleep apnea implants market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on sleep apnea implants market on basis of product type (Phrenic Nerve Stimulator, Hypoglossal Neurostimulation Devices, Bone Screw Implant System, Flexible Tongue Retractor System and Palatal Implants / Pillar Procedure), by indication (Central Sleep Apnea and Obstructive Sleep Apnea [OSA]), and end-user (Hospitals, Ambulatory Surgical Centers and Office-Based Clinics), across seven major regions.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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.