Inspire Medical Systems
Inspire Medical Systems (NYSE: INSP) develops and commercializes the Inspire implantable hypoglossal nerve stimulation system for CPAP-intolerant adults with moderate-to-severe obstructive sleep apnea, selling directly to trained ENT and sleep medicine providers in the United States.
- Company typePublic
- Founded2007
- HeadquartersMaple Grove, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Inspire Medical Systems does
Inspire Medical Systems, Inc. (NYSE: INSP), founded in 2007 and headquartered in Maple Grove, Minnesota, develops and commercializes Inspire therapy, an implantable hypoglossal nerve stimulation system for the treatment of moderate-to-severe obstructive sleep apnea (OSA) in adults who cannot tolerate CPAP therapy. The core technology consists of an implantable pulse generator, a sensing lead, and a stimulation lead that monitors respiration during sleep and delivers mild stimulation to the hypoglossal nerve to keep the airway open, complemented by a Bluetooth-enabled patient remote and the Inspire Sleep mobile app. The connected SleepSync platform provides clinicians with a programmer application and web portal for wireless implant monitoring, care coordination, and remote therapeutic monitoring, while the Inspire Institute and Excellence Program provide provider training and certification pathways.
The company sells its implantable systems through a direct enterprise sales force targeting hospital systems, sleep clinics, and individual ENT and sleep medicine physician practices in the United States, with localized digital presence in Germany, Spain, France, Italy, and the Netherlands. Revenue is generated primarily through hardware sales of the implant, leads, programmer, and remote, with reimbursement supported by commercial insurers, Medicare, and the Veterans Affairs system under CPT code 64582 (effective January 2026 for the Inspire V generation). Inspire has treated over 125,000 patients, holds FDA approval for a pediatric Down syndrome indication (ages 13-18), and maintains a peer-reviewed evidence base exceeding 385 publications.
Financially, Inspire reported full-year 2025 revenue of $912 million (+14% YoY) and Q1 2026 revenue of $204.6 million (+1.6% YoY), with management guiding 2026 revenue to $825-$875 million. The company holds approximately $400 million in cash with no debt as of Q1 2026. Recent operating headwinds include a problematic Inspire V launch in 2025 involving CMS coding delays and inventory dislocation, a 20% salesforce reduction over the trailing twelve months, CFO transition in January 2026, multiple securities class action lawsuits, and an ongoing DOJ Civil Investigative Demand under the False Claims Act.
Inspire Medical Systems firmographics
Firmographics- Name
- Inspire Medical Systems
- Legal name
- Inspire Medical Systems, Inc.
- Website
- https://inspiresleep.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Inspire Medical Systems (NYSE: INSP) develops and commercializes the Inspire implantable hypoglossal nerve stimulation system for CPAP-intolerant adults with moderate-to-severe obstructive sleep apnea, selling directly to trained ENT and sleep medicine providers in the United States.
- Ownership category
- akta.pro rank
Inspire Medical Systems industry classification
Industry- Product category
- Sleep Apnea Neurostimulation Medical Devices
- NAICS
- Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)
- SIC
- Electromedical & Electrotherapeutic Apparatus (3845), Surgical & Medical Instruments & Apparatus (3841)
- akta.pro primary industry
- Implantable Neuromodulation & Neurostimulation (SCS/DBS/VNS/PNS) (HLAHAEAK)
- akta.pro secondary industry
- Sleep Apnea Therapy Devices (CPAP/APAP/BiPAP/ASV) (HLAHAGAA)
Keywords
Where Inspire Medical Systems is headquartered
LocationHeadquarters
- HQ city
- Maple Grove
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Inspire Medical Systems business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Medical Device Sales (Implantable Systems): Inspire Medical Systems generates revenue primarily from the sale of its implantable Inspire neurostimulation systems, including the generator implant, sensing lead, and stimulation lead. The company also sells programmer devices and remote controls to healthcare providers. Revenue comes from both the initial device sale and follow-on services.
- Physician/Sleep Services: The company provides billing guides and coding support for sleep services including programming, titration, and follow-up care visits, which may generate revenue through associated procedure codes.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | No public pricing available - procedure and device costs vary by insurance coverage |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Inspire Medical Systems product offering
Product offeringCore offering
Inspire Medical Systems develops and sells the Inspire therapy system, an implantable hypoglossal nerve stimulation device for adults with moderate-to-severe obstructive sleep apnea who cannot tolerate CPAP. The offering includes the Inspire V implant (with sensing and stimulation leads), a Bluetooth-enabled patient remote, a mobile app, and the SleepSync connected patient management platform for clinicians.
Product overview
Inspire Medical Systems offers Inspire therapy, an implantable hypoglossal nerve stimulation system for obstructive sleep apnea, comprising the Inspire V (fifth-generation) or Inspire IV implant devices, the Inspire remote, and the Inspire Sleep mobile app. The ecosystem is supported by the SleepSync Patient Management Platform (web portal + programmer software) for clinicians and the Inspire Institute training platform. The Inspire Excellence Program provides care pathway certification. The company serves patients who have tried and struggled with CPAP, with recent FDA approval expanding to pediatric Down syndrome patients.
Differentiator
Problem solved
Functional benefit
Brands
- SleepSync: Connected patient management platform consisting of bluetooth-enabled Inspire remote, Inspire app, and SleepSync web portal for wireless implant monitoring, care coordination, and patient engagement
Products and services
- Inspire V Neurostimulation System Fifth-generation implantable hypoglossal nerve stimulation system for obstructive sleep apnea. Implanted through two small incisions, the device monitors breathing and delivers gentle stimulation to the hypoglossal nerve to keep the airway open during sleep. Sold to certified ENT surgeons and sleep medicine specialists for use in adult OSA patients (and pediatric Down syndrome patients ages 13-18).
- Inspire Patient Remote Bluetooth-enabled handheld remote that allows patients to turn Inspire therapy on and off before sleep. Sold to providers and issued to patients as part of the Inspire therapy ecosystem.
- Inspire Sleep Mobile App Mobile application for iOS and Android that enables patients to control therapy settings, track sleep goals, share data with providers, access educational content, and connect with the Inspire patient community. Distributed via the Apple App Store and Google Play Store.
- SleepSync Patient Management Platform Connected patient management system comprising the SleepSync web portal, Bluetooth-enabled Inspire remote, and Inspire app. Enables wireless and automatic implant monitoring, care coordination, and remote therapeutic monitoring for healthcare providers managing Inspire therapy patients.
- SleepSync Programming System (Model 2740S) Clinician software application installed on Windows devices that interfaces with the patient's Inspire implant via Bluetooth cable. Used during surgery and follow-up appointments by ENT surgeons and sleep specialists to interrogate, monitor, and program the implant.
Quantifiable outcome
- 79% reduction in sleep apnea events (AHI)
- +6 more outcomes
Companies that use Inspire Medical Systems
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles1 record
Inspire Medical Systems technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Inspire Medical Systems partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- American Academy of Sleep Medicine FoundationminorInspire Medical Systems is a Corporate Supporter of the American Academy of Sleep Medicine Foundation, supporting sleep medicine research and education initiatives.
- SRS & SRSF Corporate Partners ProgramminorInspire participates in the Sleep Research Society (SRS) and Sleep Research Society Foundation corporate partners program, supporting sleep science research.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Inspire Medical Systems competitors and assessment
Company assessmentDirect peers
- ResMed: Global leader in CPAP devices and sleep apnea treatment. ResMed is the dominant incumbent in the OSA market that Inspire is targeting with an alternative therapy for CPAP-intolerant patients, making them the primary direct competitor.
Broad incumbents
- Philips Respironics: Major manufacturer of CPAP, BiPAP, and sleep apnea therapy devices. As a broad incumbent in respiratory and sleep care, Philips is a major competitor in the OSA treatment space, though currently constrained by product recall issues.
- Fisher & Paykel Healthcare: New Zealand-based manufacturer of respiratory care products including CPAP interfaces and humidification. Operates broadly in sleep apnea treatment with overlapping patient population but different product offering.
- LivaNova: Medical device company with a Vagus Nerve Stimulation (VNS) system for epilepsy and depression. Operates in the implantable neurostimulation space with similar technology platform and regulatory pathway as Inspire's hypoglossal nerve stimulation.
- Medtronic: Diversified medical device leader with deep neurostimulation portfolio including DBS for Parkinson's and SCS for chronic pain. Early investor in Inspire and a broader neuromodulation incumbent with relevant technology and clinical expertise.
- Abbott: Global healthcare company with neuromodulation portfolio including Proclaim DRG and spinal cord stimulation systems. A broad incumbent in implantable neurostimulation with overlapping technology and provider relationships.
Emerging players
- Nyxoah: Belgian medical device company developing the Genio system, a hypoglossal nerve stimulation implant for OSA. Nyxoah is the most direct emerging competitor to Inspire, pursuing the same neurostimulation approach with a different device architecture.
- Axonics: Developer of implantable sacral neuromodulation systems for incontinence. Operates in the implantable neurostimulation space with similar business model, regulatory pathway, and reimbursement dynamics as Inspire.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Inspire Medical Systems social profiles
Digital presenceInspire Medical Systems compliance and trust
Trust signalCompliance1 record
Inspire Medical Systems financial estimates
Financial estimateRevenue estimate
Valuation estimate
Inspire Medical Systems leadership team
Management profileNumber of profiles
Profiles8 records
Inspire Medical Systems funding detail
Funding detailFunding overview
Funding rounds7 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Inspire Medical Systems M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Inspire Medical Systems
What does Inspire Medical Systems do?
Inspire Medical Systems develops and sells the Inspire therapy system, an implantable hypoglossal nerve stimulation device for adults with moderate-to-severe obstructive sleep apnea who cannot tolerate CPAP. The offering includes the Inspire V implant (with sensing and stimulation leads), a Bluetooth-enabled patient remote, a mobile app, and the SleepSync connected patient management platform for clinicians.
Is Inspire Medical Systems a public or private company?
Inspire Medical Systems is a public company. It is classified as public and is currently operating.
When was Inspire Medical Systems founded?
Inspire Medical Systems was founded in 2007. It employs 1,001 to 5,000 people.
Where is Inspire Medical Systems based?
Inspire Medical Systems is headquartered in Maple Grove, United States, in the North America region.
How does Inspire Medical Systems make money?
Two revenue lines are on record. Medical Device Sales (Implantable Systems) is the primary driver. The others are physician/Sleep Services.
Who are Inspire Medical Systems's main competitors?
ResMed is listed as a direct peer. Broad incumbents are Philips Respironics, Fisher & Paykel Healthcare, LivaNova, Medtronic and Abbott. Emerging players are Nyxoah and Axonics.
Does Inspire Medical Systems have an API?
No public API is recorded for Inspire Medical Systems.
What industry is Inspire Medical Systems in?
Inspire Medical Systems's product category is Sleep Apnea Neurostimulation Medical Devices. Its primary akta.pro industry code is HLAHAEAK, Implantable Neuromodulation & Neurostimulation (SCS/DBS/VNS/PNS), with a secondary code of HLAHAGAA, Sleep Apnea Therapy Devices (CPAP/APAP/BiPAP/ASV). Its NAICS code is 334510 and its SIC code is 3845.