Sleep Apnea Implants Market size to exceed $1.2bn by 2030

Sleep Apnea Implants Market size is set to surpass USD 1.2 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Supportive policies and availability of reimbursement coverage for sleep apnea implants is expected to encourage the patients to opt for this therapy, thereby driving the market share. The reimbursement coverage for sleep apnea implants is provided by government agencies as well as private third-party payors. The hospitals and ambulatory surgical centers that perform sleep apnea implants installation procedures reach out to third-party payors and Medicare services for reimbursement.
 

Medicare provides reimbursement to these healthcare facilities under hospital outpatient prospective payment system (HOPPS). Under HOPPS, the 2022 National average Medicare payment to the hospital for hypoglossal neurostimulation device implantation procedure is USD 30,063 that also covers the device cost.
 

Increasing awareness regarding sleep apnea will boost the sleep apnea implants market revenue

Sleep apnea disorder affects a significant number of people worldwide and is rising in terms of prevalence rate. Several sleep disorders are unrecognized and untreated in clinical practice owing to low awareness. The economic burden of undiagnosed sleep apnea is also substantial and costs significantly to the healthcare systems. To limit the disease burden and promote diagnosis rate of sleep apnea, several public organizations and federal agencies have implemented initiatives to drive awareness regarding sleep apnea among the general population. For instance, the Sleep Apnea Awareness Week program is financed by the American Sleep Association. During the program, the association and its affiliates promote awareness regarding the consequences of untreated sleep apnea.
 

The key objective of this program is to enhance the knowledge concerning the symptoms, complications, diagnosis, and treatment of sleep apnea disorder. During this program, news stations & sleep laboratories throughout the country will be offering essential clinical information. Such initiatives are contributing to the increasing awareness regarding sleep apnea disorders. As per the NCBI, recent data also indicates that sleep disorders are becoming increasingly recognized in emerging economies. The rising awareness regarding sleep apnea treatment would encourage the patients to undergo efficient treatment, thereby driving the adoption of sleep apnea implants.
 

Browse key industry insights spread across 100 pages with 148 market data tables & 16 figures & charts from the report, “Sleep Apnea Implants Market Analysis By Product (Hypoglossal Neurostimulation Devices, Palatal Implants, Bone Screw System, Phrenic Nerve Stimulator), By Indication (Central Sleep Apnea, Obstructive Sleep Apnea), By End-use (Hospital, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/sleep-apnea-implants-market
 

Cost effective alternative offered by palatal implants will drive the market demand

Sleep apnea implants market from palatal implants segment is projected to witness 12.9% CAGR during the forecast period owing to cost effective alternative offered by palatal implants to other costly therapies in managing sleep apnea. Palatal implants are inserted in the soft palate mucosal layer sagittally through a surgical intervention with minimal morbidity and complication rate. Three small polyethylene terephthalate rods are implanted parallel to each other.
 

Clinical studies have demonstrated that these sleep apnea implants are stable, made of biologically inert compounds that are optimal for application in sleep apnea treatment. Several comparative analysis-based studies have also stated that palatal implants significantly reduce snoring and daytime sleepiness.
 

Rising prevalence of central sleep apnea is set to promote the industry growth

Central sleep apnea segment was valued at around USD 24 million in 2021 and is likely to expand at 12.3% CAGR through the analysis timeframe due to the rising prevalence of central sleep apnea. Additionally, the condition is increasingly prevalent among patients with cardiovascular ailments, with studies reporting 25%-40% heart failure patients and 10% patients with stroke suffering from central sleep apnea. The prevalence of central sleep apnea rises in population aged 60 & above.
 

Increasing hospital admissions due to rising prevalence of sleep apnea will propel the market progression

Sleep apnea implants market from hospitals segment is expected to register 16.5% CAGR during the estimation period. This is majorly attributed to the rising prevalence of sleep apnea and increased preference for these healthcare settings. As per recent research, hospitals provide precise & effective treatment, thereby delivering optimal clinical outcomes along with affordability. Similarly, the availability of a broad range of sleep apnea related treatments incorporating advanced sleep apnea implants caters to the patient population is predicted to fuel the market expansion.
 

Growing prevalence of sleep apnea in UK will augment the market outlook 

UK sleep apnea implants market is estimated to expand at 18.3% CAGR to reach more than USD 47 million by 2030. This is owing to the rising prevalence of obstructive sleep apnea, surging geriatric population, and increased demand for these implants. Moreover, several public organizations are initiating awareness campaigns throughout the country to drive the knowledge regarding sleep apnea & available therapeutic alternatives.
 

For instance, the Sleep Apnoea Trust organization in the UK works in collaboration with public organizations such as OSA Alliance & OSA Partnership group, ARTP, BSS, and European National Sleep Apnoea Patients Organisation (ENSApo) among others to promote sleep apnea awareness. Thus, the high prevalence of sleep apnea, awareness campaigns in the country, and elderly populace is set to accelerate the industry growth in the UK.
 

Players are emphasizing on strategic initiatives and innovative product launch to expand business operations

Some of the major players operating in the sleep apnea implants market are Inspire Medical Systems, Medtronic, Nyxoah, Siesta Medical, LivaNova, and Respicardia, Inc. (Asahi Kasei Company). These players are engaged in strategic collaborations, partnerships, and agreements to gain competitive advantage over their competitors.
 

For instance, in April 2021, ZOLL Medical Corporation, a subsidiary of Asahi Kasei company announced the acquisition of Respicardia, Inc., a company engaged in development of novel implantable neurostimulators for the treatment of moderate to severe central sleep apnea (CSA). This acquisition helped the company to expand its product portfolio and enter the lucrative market.