DUBAI, UAE, June 14, 2021 /PRNewswire/ -- The global sleep apnea implants market is anticipated to expand at an impressive 17.3% CAGR through the forecast year 2021-2031, finds Future Market Insights (FMI) in its new study.
Obstructive sleep apnea (OSA) is a severe sleep disorder that increases the risk of fatal accidents. The need for technologically advanced sleep apnea implants and innovations in the same will be prevalent, enabling growth in the market in the coming years.
Various sleep-related problems such as insomnia, jet lag narcolepsy and sleep walking remain undiagnosed. Government and non-government institutions across the globe are conducting awareness programs to educate the masses about the importance of sleep and usage of sleep apnea devices.
For instance, the National Sleep Foundation celebrated Sleep Awareness Week in March 2020, with the theme "My Sleep Health". Such efforts will propel the demand for sleep apnea devices, providing lucrative opportunities for players in the market.
The COVID-19 pandemic has disrupted medical practices globally, resulting in delays in sleep apnea therapy procedures and screening of patients for treatment eligibility. Nonetheless, with increasing number of cases, the market will witness steady growth post-pandemic, finds the ESOMAR-certified firm FMI in this study.
"Increasing focus on spreading awareness on sleep-related disorders, importance of sleep, and rising investments in research & development in the sector will assist the market growth in near future," remarks the FMI analyst.
Prominent players operating in the sleep apnea implants market are aiming for higher investments to expand their offerings across the globe. Additionally, players are also focusing on acquisitions and collaborations to expand their product portfolio. For instance:
In April 2021, Zoll Medical Corporation, a subsidiary of Asahi Kasei Company, acquired Resipicardia, Inc., to combine its cardiac and respiratory care expertise.
In March 2021, Inspire Medical Systems, Inc. received FDA approval for their improved surgical implant procedure for Inspire Airway Therapy for OSA. The new procedure reduced average procedure time for Inspire therapy by approximately 20%.
Leading Players Profiled by FMI in the Sleep Apnea Implants Market include:
Inspire Medical Systems
Siesta Medical, Inc.
Pillar Palatal LLC/ The Snoring Center
More Insights on FMI's Sleep Apnea Implants Market
The latest market study on global sleep apnea implants market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
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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.