Michael Barbella, Managing Editor05.09.24
Neuromodulation is increasingly becoming an accepted alternative to traditional therapeutic obstructive sleep apnea (OSA) solutions.
Look no further than Inspire Medical Systems for proof of this surrogate treatment route: The company's revenue climbed from $233 million in 2021 to $624 million in 2023. The growth demonstrates the efficacy and demand for hypoglossal neuromodulation and also highlights the significant potential within this market segment, according to GlobalData.
“Neuromodulation is gaining traction as it helps to address the limitations of conventional continuous positive airway pressure (CPAP) therapy, including discomfort and low patient adherence rates,” GlobalData Medical Analyst Ashley Clarke said.
The market has been receptive to alternative solutions in recent years, thanks partly to frequent recalls of conventional OSA treatment devices from major respiratory players like Royal Philips and ResMed. The more than 900 million people worldwide who are affected by moderate to severe OSA has prompted a considerable market need for reliable and effective treatments.
Inspire's financial success indicates immense untapped potential in the hypoglossal neuromodulation market and signals the shift away from traditional therapies toward more innovative, patient-centric solutions. This rapid expansion has not gone unnoticed, with other emerging contenders poised to enter the rapidly developing neuromodulation market.
“While Inspire has been leading the charge for OSA, the market is ripe for competition," Clarke n oted. "New entrants are eyeing the substantial growth opportunities that lie ahead in the neuromodulation space and are developing devices with new technologies, features, and capabilities to give them a competitive edge.”
Transformation is imminent within even the hypoglossal neuromodulation market, with devices like Nyxoah's Genio System, which is battery-free and minimally invasive, making significant strides. The Genio System's positive 12-month DREAM trial outcomes are likely to positively impact its U.S. marketing authorization appllication. Other companies, such as StimAire and Vivos Therapeutics, are also introducing non-surgical alternatives, further diversifying the treatment options available to patients and clinicians, and potentially altering the competitive landscape.
“This is an exciting time for neuromodulation markets and OSA treatment, with significant implications for patient care and industry growth. Industry stakeholders must be agile and proactive in order to capitalize on the emerging opportunities., Clarke concluded.
Look no further than Inspire Medical Systems for proof of this surrogate treatment route: The company's revenue climbed from $233 million in 2021 to $624 million in 2023. The growth demonstrates the efficacy and demand for hypoglossal neuromodulation and also highlights the significant potential within this market segment, according to GlobalData.
“Neuromodulation is gaining traction as it helps to address the limitations of conventional continuous positive airway pressure (CPAP) therapy, including discomfort and low patient adherence rates,” GlobalData Medical Analyst Ashley Clarke said.
The market has been receptive to alternative solutions in recent years, thanks partly to frequent recalls of conventional OSA treatment devices from major respiratory players like Royal Philips and ResMed. The more than 900 million people worldwide who are affected by moderate to severe OSA has prompted a considerable market need for reliable and effective treatments.
Inspire's financial success indicates immense untapped potential in the hypoglossal neuromodulation market and signals the shift away from traditional therapies toward more innovative, patient-centric solutions. This rapid expansion has not gone unnoticed, with other emerging contenders poised to enter the rapidly developing neuromodulation market.
“While Inspire has been leading the charge for OSA, the market is ripe for competition," Clarke n oted. "New entrants are eyeing the substantial growth opportunities that lie ahead in the neuromodulation space and are developing devices with new technologies, features, and capabilities to give them a competitive edge.”
Transformation is imminent within even the hypoglossal neuromodulation market, with devices like Nyxoah's Genio System, which is battery-free and minimally invasive, making significant strides. The Genio System's positive 12-month DREAM trial outcomes are likely to positively impact its U.S. marketing authorization appllication. Other companies, such as StimAire and Vivos Therapeutics, are also introducing non-surgical alternatives, further diversifying the treatment options available to patients and clinicians, and potentially altering the competitive landscape.
“This is an exciting time for neuromodulation markets and OSA treatment, with significant implications for patient care and industry growth. Industry stakeholders must be agile and proactive in order to capitalize on the emerging opportunities., Clarke concluded.