Sleep Apnea Implants Market to Gain from Increasing Sales of Hypoglossal Neurostimulation Devices: FMI
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.
Sleep Apnea Implants Market
The recent market study published by Future Market Insights (FMI) on the sleep apnea impla...
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.
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.
Key Takeaways of Sleep Apnea Implants Market Study
- Driven by rising prevalence of sleep disorders, the sleep apnea implants market will exhibit 17.3% CAGR between 2021 and 2031
- Rising concerns pertaining to sleep deprivation has fuelled demand in the U.S., which accounts for the leading share in North America
- The U.K. will remain a key market for sleep apnea implants on the back of rising awareness about the condition and willingness to spend on treatment
- As per the Journal of Thoracic Disease, population based studies have indicated that nearly 50 million patients in China suffer from OSA. With focus on providing advanced healthcare rising, the demand for sleep apnea implants will rise in China
- Expansion of the healthcare sector and rising demand from hospitals will continue supporting growth in India
"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
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 the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
- Global Digital Pathology Market
- Healthcare Regulatory Affairs Outsourcing Market
- Cold Plasma Market
- Hdl Cholesterol Kits Market
- Single Dose Radiotherapy Services Market
- General Anesthesia Drugs Market
- Clinical Trials Market
- Injectable Drug Delivery Market
- Microfluidics Market
- Lab Automation Market
- Lung Cancer Surgery Market
- Veterinary Vaccines Market
- Prescription Delivery Services Market
- Vital Signs Monitoring Devices Market
- Weight Loss And Obesity Management Market