Sleep Apnea Implants Market is projected to growing at a 17.3% CAGR through 2031 | FMI

[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.

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

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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.

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.

Key Players: 

Inspire Medical Systems
Respicardia, Inc.
 Medtronic Plc
LinguaFlex LLC
Pillar Palatal LLC/ The Snoring Center
Nyxoah SA
LivaNova/ImThera

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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 2021 to 2031.

Sleep Apnea Implants Market by Category

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

Region

North America
Latin America
Europe
East Asia
South Asia
The Middle East and Africa (MEA)
Oceania

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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.

This release was published on openPR.