Inspire Medical’s sleep apnea device sales spiked in 2021, with company revenue between $233 million and $233.4 million, or a 102% increase over the previous year, the company announced. The company markets the first-ever implantable neurostimulation device to treat obstructive sleep apnea.

In 2016, the company tallied just $16.4 million in revenue. The preliminary numbers for 2021 represent a 1,300% increase in its sales over the last five years. It ranks among the fastest-growing public companies in Minnesota.

The company said its rapid growth is fueled by high consumer demand and low — or no — competition from other device makers.

Inspire developed the first-ever implantable neurostimulation device to treat obstructive sleep apnea. No one else has created a similar product and brought it to market. In its niche, Inspire Medical has zero competition.

“We are the only ones doing this,” said Tim Herbert, Inspire’s chief executive. Other companies have competing products in development, but they are still several years away from approval by the U.S. Food and Drug Administration (FDA), he said.

Get the full story at startribune.com.

Inspire Medical Sleep Apnea

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Go To Source For Respiratory Therapy Coverage RT delivers in-depth coverage of the clinical, regulatory, and technology landscape for respiratory therapy—and reaches more than 28,000 key decision-makers and influencers. As one of healthcare’s most important data companies, we facilitate the rapid adoption of medical devices and practice management tools into the industry. Go To Source For Respiratory Therapy Coverage RT delivers in-depth coverage of the clinical, regulatory, and technology landscape for respiratory therapy—and reaches more than 28,000 key decision-makers and influencers. As one of healthcare’s most important data companies, we facilitate the rapid adoption of medical devices and practice management tools into the industry.