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.
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.
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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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“FDA approvals and product launches of advanced sleep apnea implants along with increasing demand for minimally invasive procedures are driving the growth of the global sleep apnea implants market,” says an FMI Analyst
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