Leading players are focus eyeing profits in hypoglossal neuro stimulant (HNS) devices. North American players remain trailblazers in terms of product innovation in this category.
LONDON, UK and DUBAI, UAE / ACCESSWIRE / February 6, 2020 / Future Market Insights: Global sales of sleep apnea implants, valued at US$ 100 Mn in 2019, are set to witness annual growth rates of over 20% through 2029, according to a new study by Future Market Insights. Increasing rate of sleep apnea diagnosis is primarily underpinning the gains in market, whilst minimally invasive trend will be a key growth contributor during the forecast period.
"There has been a notable hike in the number of both obstructive and central sleep apnea (CSA and OSA) cases. Moreover, the number of hypoglossal neuro stimulation implant procedures performed annually, is witnessing a spike as well. These factors will be the key growth influencers associated with the growth of market," opines Future Market Insights.
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Key Research Findings of FMI's Sleep Apnea Implants Market Study
- Low price point remains a strong factor, unlocking the sales potential of palatal sleep apnea implants.
- Hypoglossal neuro stimulation (HNS) devices continue to be the bestselling category, with nearly 80% share in global market.
- OSA particularly contributes a higher revenue share to market, banking on the favorable reimbursement scenario.
Key Growth Drivers - Sleep Apnea Implants Market
- More than 80% of the OSA patient pool remains undiagnosed, creating remarkable scope for improved diagnosis rate. This would further support market growth.
- Sleep apnea implants are currently being covered by some leading private insurance providers such as United Healthcare and Aetna.
- Improved reimbursement scenario will further push the number of implant-based procedures, accelerating product penetration.
Key Impediments - Sleep Apnea Implants Market
- Continued patient tendency to opt for symptomatic treatment.
- Sleep apnea implants are yet to enter the mainstream as a standard means of care for OSA treatment.
- High upfront costs of sleep apnea treatment remains a longstanding challenge influencing decision of patients.
Explore the full sleep apnea implants market report with 118 illustrative figures, 43 data tables and table of contents. Also avail a detailed market segmentation on https://www.futuremarketinsights.com/reports/sleep-apnea-implants-market
Competition Structure Analysis - Sleep Apnea Implants Market
Competition landscape of the global sleep apnea implants market will primarily remain influenced by strategic mergers and partnerships of large as well as mid-level manufacturers. Smaller companies and venture capitalists will be seen targeting financial support for R&D to gain an edge over competition. Entry and exit of multiple prominent players in market marks a significant trend shaping up the competition over the near future.
Some of the key participants included are but not limited to, Medical Systems, Respicardia, Inc., Medtronic Plc, LinguaFlex LLC, Siesta Medical, Inc., and Pillar Palatal LLC.
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About the Report
Global, regional, and country levels analysis of the latest industry trends impacting the sleep apnea implants market. 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 30 countries spanning seven key 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 London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights (FMI)