(MENAFN- Ameliorate Digital Consultancy) The global sleep apnea implants market was valued at USD 310.3 Million in 2021 and it is anticipated to grow up to USD 1516.5 Million by 2031, at a CAGR of 17.2% during the forecast period.
New York, According to a new market research report published by Global Insight Services“sleep apnea implants market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Sleep apnea implants refers to discreet devices implanted in the patient's body to stimulate the natural breathing mechanism, open the airway, and enable the oxygen flow. Sleep apnea implants aid in reducing the impact of sleep apnea & the devices are majorly used in managing moderate to severe sleep apnea.
Market Trends and Drivers
The significant increase in the number of individuals suffering from sleep sleep apnea is one of the key factors driving the market for sleep apnea implants. Obstructive sleep apnea (OSA) is a chronic condition that causes frequent breathing disruptions during sleep and is significantly underdiagnosed. This illness occurs when the muscles of the throat and tongue, as well as soft tissues, relax and collapse, reducing the amount of air that reaches the lungs. OSA promotes serious health effects and co-morbidities, such as cardiovascular disease, atherosclerosis, heart failure, hypertension, stroke, diabetes, and depression, among others, resulting in substantial mortality.
According to the Lancet Respiratory Medicine publication, which was published in 2019, OSA is the most serious sleep disease, impacting around 936 million individuals worldwide. Around 425 million people have moderate-to-severe OSA and require therapy. Similarly, as of 2019, over 14.3 million people in Germany suffer with this illness. As a result of the growing patient population, the market for sleep apnea implants is expected to increase significantly due to rising adoption and awareness. As a result of these implants providing an efficient solution to patients for managing obstructive sleep apnea, the market is expected to experience exceptional growth in the near future.
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Market Restraints and Challenges
The high costs of sleep apnea implants, severe government regulations, and peri-operative issues may all have an adversely impact on business growth. The high cost of sleep apnea implants, notably hypoglossal neurostimulation devices and phrenic nerve stimulators, may affect device acceptance and thus market growth. For instance, as of 2019, the Inspire Medical System's hypoglossal nerve stimulation implant was priced at USD 23,800 in the U.S. & USD 23,400 in Europe. Such incremental costs would affect the adoption of these sleep apnea implants. Furthermore, the U.S. FDA overviews the R&D activities, approval, and post-approval surveillance associated with medical devices, including sleep apnea implants. Certain sleep apnea implants, including the Inspire UAS system is classified as class III medical device. These devices are required to adhere to stringent regulatory approval processes & compliances including the premarket approval (PMA). Thus, the strict regulatory framework & high cost may limit the adoption of sleep apnea implants, further hindering the industry growth.
Major Players in the Global Sleep Apnea Implants Market
The key players in the sleep apnea implants market are Inspire Medical Systems, Inc., Medtronic plc., Nyxoah SA, Siesta Medical, Respicardia, Inc. (Asahi Kasei Company), LivaNova, DeVilbiss Healthcare LLC, Somnowell, Koninklijke Philips N.V, and LinguaFlex LLC, among others.
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Reasons to buy Sleep Apnea Implants Market Report:
. Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
. Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
. Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
. Develop business and M&A strategies through understanding of latest trends and emerging players in the market
. Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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