Pune, India, Oct. 18, 2023 (GLOBE NEWSWIRE) -- North America accounted for the largest share of the global sleep apnea implants market in 2022. The North America sleep apnea implants market has experienced substantial growth in the past few years due to an upsurge in the demand for sleep apnea treatment. Asia Pacific accounted for the fastest-growing region of the global sleep apnea implants market. The growth is attributed to several factors, driven by high potential in of sleep apnea treatment in untapped and emerging markets, due to availability of increase in unmet healthcare needs, increasing prevalence of sleep apnea, and demand for sleep apnea implants. Furthermore, the emerging economies in sleep apnea market is developing at a significant rate due to rise in demand for enhanced healthcare and surgical services, significant investments improve healthcare infrastructure, and development of the medical technology industry. The demand for sleep apnea implants is not only limited to emerging countries but is also observed in the developing countries. Factors such as rise in adoption of respiratory testing kits, increasing R&D in the field of medical device and increase in awareness towards sleep apnea, further drive the growth of the sleep apnea implants market.
According to our new research study on “Sleep Apnea Implants Market covers analysis By Product Type (Hypoglossal Neurostimulation Devices, Phrenic Nerve Stimulator, Others), Indication (Obstructive Sleep Apnea, Central Sleep Apnea), and by End User (Hospitals, ASCs, Others), Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America),” the global sleep apnea implants market is expected to grow from $311.24 million in 2022 and is expected to reach $803.26 million by 2030; it is estimated to register a CAGR of 12.58% from 2022 to 2030.
Global Sleep Apnea Implants Market: Competitive Landscape and Key Developments
Asahi Kasei Corporation, Avery biomedical, Inspire Medical Systems, Inc., LinguaFlex, Inc., LivaNova PLC, Medtronic plc, Nyxoah SA, Siesta Medical, SomnoMed, Somnowell are provided in this report. There are some important players in the market such as Inspire Medical Systems, Inc., Asahi Kasei Corporation, Medtronic plc and Nyxoah SA are a few key companies operating in the Sleep apnea implants market. These companies adopt product innovation strategies to meet evolving customer demands, in the Sleep apnea implants market. A few of the recent developments in the global Sleep apnea implants market are mentioned below:
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In March 2019, Nyxoah SA declared the European CE mark approval for the Genio System for the treatment of obstructive sleep apnea.
In August 2020, Inspire Medical Systems, Inc. declared that the Australian Therapeutic Goods Administration approved inspire system therapy for obstructive sleep apnea treatment.
In February 2021, Zoll Medical Corporation, a subsidiary of Asahi Kasai Corporation has announced the acquisition of Respicardia, Inc., a medical device company that manufactures sleep apnea devices.
In August 2021, Zoll Medical Corporation, an Asahi Kasei Company, received U.S. FDA approval for the remedy EL-X System for the treatment of central sleep apnea.
In June 2021, Inspire Medical Systems, Inc. sponsored a clinical study to analye the objective change in cognition and expressive language after implant and therapy using Inspire Upper Airway Stimulation (UAS) System.
In April 2022, Inspire Medical Systems declared a $10 million minority equity investment in EnsoData, a Madison-based company. Company developed an FDA-approved sleep study analysis platform. This investment is expected to boost the Inspire Medical System's offerings in the sleep apnea market.
Increasing Prevalence of Sleep Deprivation Disorders to Drive Global Sleep Apnea Implants Market Growth:
Obstructive sleep apnea is defined as a disorder in which breathing stops and starts during sleep, resulting in snoring. This sleep apnea disorder occurs due to presence of throat muscles intermittently relaxing and blocking the airway during sleep. Factors such as an increasing number of patients who are not treated by continuous positive airway pressure (CPAP) devices, increasing prevalence of obstructive sleep apnea globally are resulting in sleep apea adoption. According to the data from Advisor 2023 update, around 70 million people in the United States suffer from sleep disorders. In addition, research studies demonstrating the technological advancements of sleep apnea implants are anticipated to boost market growth over the forecast period. For instance, approximately 1 billion of the global population, between the ages of 30 and 69 years, are anticipated to have the most common type of sleep-disordered breathing, obstructive sleep apnea (OSA). Some of the popular sleep apnea implantable devices in the market are remedē System, AIRLIFT, and Inspire Therapy. Sleep apnea disorder is also linked to the body mass index; hence the rising obesity cases is projected to increase OSA. According to the world Obesity Atlas 2022, around 586 million women and 434 million men are expected to become obese by 2030. Hence, an increase in obesity is likely to raise the complication of OSA and thereby, driving the market growth over the forecast period.
Furthermore, clinical studies and development conducted in the field of obstructive sleep apnea are anticipated to boost the demand for the studied marker over the forecast period. For instance, in June 2021, Inspire Medical Systems, Inc. sponsored a clinical study to evaluate objective change in cognition and expressive language after implant and therapy with Inspire Upper Airway Stimulation (UAS) System. Thus, such studies demonstrating the efficacy of different obstructive sleep apnea implants are anticipated to boost market growth over the forecast period.
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Global Sleep Apnea Implants Market: Segmental Overview
The Sleep apnea implants market, by method, is segmented into product type i.e. hypoglossal neurostimulation devices, phrenic nerve stimulator and other products. The hypoglossal neurostimulation device segment held the largest market share in 2022. The segment is anticipated to register the highest CAGR from 2022 to 2030 as the segment has gained popularity based on its efficacy as compared to other products. Increase in application of Sleep apnea implants in treatment of sleep apnea is attributed towards its growth. The Sleep apnea implants market, by indication, is segmented into obstructive sleep apnea and central sleep apnea. The obstructive sleep apnea segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030. The sleep apnea implants market, by end user, is segmented into hospitals, ambulatory surgical centers and others. The hospitals segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030. Increasing number of implant surgeries performed in the hospitals for sleep apnea, and number of patients visits for the surgeries that increase the demand of the implant devices is boosting the segment growth.
Go through further research published by The Insight Partners:
Sleep Apnea Diagnostics Market - Global Analysis and Forecast to 2028
Sleep Apnea Devices Market - Global Analysis and Forecast to 2025
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