Neuromodulation is rapidly redefining the therapeutic landscape for obstructive sleep apnea (OSA), with Inspire Medical Systems at the forefront, showcasing an impressive revenue climb from $233 million in 2021 to $624 million in 2023. This growth not only demonstrates the efficacy and demand for hypoglossal neuromodulation but also highlights the significant potential within this market segment, says GlobalData, a leading data and analytics company.

Ashley Clarke, Medical Analyst at GlobalData, comments: “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.”

The market has been receptive to alternative solutions considering the frequent recalls of conventional OSA treatment devices from major respiratory players like Philips and ResMed. With over 900 million affected by moderate to severe OSA worldwide, there is a critical 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.

Clarke continues: “While Inspire has been leading the charge for OSA, the market is ripe for competition. 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 novel 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 paving the way for its upcoming US marketing authorization. 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.

Clarke concludes: “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.”