Sleep Apnea Implants Market Set for over 20% CAGR Through 2029; Favorable Reimbursement Scenario Underway
In line with the rise in rate of sleep apnea diagnosis and increase in demand for minimally invasive treatment procedures, sales of sleep apnea implants are poised to remain on an upward trend. Surpassing revenues worth US$ 100 Mn in 2019, the global sleep apnea implants market is set to witness stupendous CAGR of more than 20% during the forecast period (2019 – 2029).
Sleep Apnea Implants Market
A recent market study published by Future Market Insights (FMI) offers global industry ana...
Rise in number of patient pool suffering from CSA as well as OSA, and increase in number of hypoglossal neurostimulation implant procedure performed each year, are expected to create significant demand for sleep apnea implants, globally. According to the American Academy of Sleep Medicine, approximately 7 million U.S. adults were diagnosed with OSA, in 2015 and a large proportion of 21 million remained undiagnosed. Higher reimbursement support for sleep apnea implants is anticipated to drive volume of procedures performed annually. Currently, sleep apnea implants are covered by private insurers such as United Healthcare, Aetna and others.
Key Takeaways - Sleep Apnea Implants Market Study
- Attributed to growing preference for minimally invasive procedure, rapid adoption of pillar implants is observed among patients with sleep apnea.
- Introduction of hypoglossal neurostimulation-based devices such as inspire implant by manufacturers is expected to boost demand for these implants among end users.
- Favorable reimbursement policies by private players such as Aetna and United Healthcare for obstructive sleep apnea is contributing to the dominance of segment by indication.
- Low cost of palatal implants is marking significant revenue potential by product type.
- North America and Europe are dominating the sleep apnea implants market owing to enhanced procedural outcomes in these regions.
Low acceptance rate of CPAP devices further inflates patient pool for CSA and OSA, which is anticipated to propel demand for implant-based treatment approaches augmenting growth to the global sleep apnea implants market.
Strategic Acquisition by Key Players to Widen Regional Presence
Market orientation strategies followed by mid-level and large medical implants manufacturer to gain market share, key factors impacting the sleep apnea implants market are partnerships and mergers observed in the recent years. Venture capitalist and small developmental companies are targeting the sleep apnea implants market by pouring out financial support to the research and development of the targeted sleep apnea treatment with implant based treatment. This is a promising trend that has arisen as a result of the substantial demand for Continuous positive airway pressure (CPAP) substitute.
In reference to the above dynamics, an important trend arising in sleep apnea implants market is the entrance and exit of key companies. In January 2018, LivaNova Inc., previously investor in ImThera, paid US$ 78 million up front to acquire rest of the company, with the remaining $147 million due on regulatory and sales milestones completion. Earlier in December 2017, Respicardia, Inc., a leading sleep aid medical technology company, announced that the company closed a $58.5 million financing, offered by ZOLL Medical Corporation, a leading manufacturer of medical devices and related software solutions.
What Does the Report Cover?
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 of the segments 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 types (phrenic nerve stimulator, hypoglossal neurostimulation devices, bone screw implant system, palatal implants / pillar procedure), by indication (central sleep apnea (CSA), obstructive sleep apnea (OSA)), and by end user (ambulatory surgical centers, office-based clinics, hospitals) across seven major regions.
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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.
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