{
  "docId": "019dd923-622c-750b-8b9a-648c05e927ed",
  "docSlug": "ea3395f0d3bd",
  "documentTitle": "Inspire Medical Systems, Inc. (INSP)",
  "authorId": "60_Wolfpack_Research",
  "authorName": "Wolfpack Research",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-22 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 14,
  "pageCount": 57,
  "prevPage": 13,
  "nextPage": 15,
  "slideType": "market_sizing",
  "function": "size_opportunity",
  "density": "balanced",
  "nDataPoints": 8,
  "notes": "The slide includes a critical annotation highlighting that the core assumption (2 million patients) is based on 'Company estimates'.",
  "elementsJson": [
    "screenshot",
    "process_diagram",
    "bullet_list",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-648c05e927ed/14",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-648c05e927ed",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-648c05e927ed.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-648c05e927ed#slide-14",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Inspire claims this number is 2 million – their source? See footnote 2: “Company estimates” (i.e., “we made it up”)",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-5375-7572-b874-2a934567ed9a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.43,
        "y": 0.285
      },
      "kind": "diagram",
      "text": "Funnel showing 2M patients -> 700k non-compliant -> 500k anatomy eligible -> $10B market",
      "attrs": null,
      "subkind": "process",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "91296ba5-7bd1-4741-9c40-1fa841d97de5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.3,
        "x": 0.14,
        "y": 0.285
      },
      "kind": "list",
      "text": "Prevalence & Economic Costs: Sleep apnea affects +100 million people worldwide; 17 million in U.S. with moderate to severe OSA; ~2 million prescribed CPAP; $65-$165 billion economic cost.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "33d3bb14-1430-4bbe-9d69-0dd37eb8b979",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "TAM: $10 billion",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-5375-7572-b874-309bf3610849",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“Company estimates” (i.e., “we made it up”) — Wolfpack Research",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-5375-7572-b874-2fc570cce5d7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.3,
        "x": 0.14,
        "y": 0.75
      },
      "kind": "source-note",
      "text": "Note: ASP constitutes abbreviation for average selling price. 2. Company estimates.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3e762c04-4b4a-4fcc-aa3c-ae1ffd034745",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.15,
        "y": 0.195
      },
      "kind": "title",
      "text": "A Strong Market Opportunity Exists for an Alternative to CPAP that is Effective and Minimally Invasive",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "948d9e7e-6240-45d6-b7f3-495bda357cc3",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Market Segmentation Pyramid",
      "slug": "market-segmentation-pyramid",
      "agent": null,
      "layer": "slide",
      "matchId": "36d05405-0706-423b-8a16-6180c1df40da",
      "evidence": "Prevalence & Economic Costs: Sleep apnea affects +100 million people worldwide; 17 million in U.S. with moderate to severe OSA; ~2 million prescribed CPAP; $65-$165 billion economic cost.",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "market-sizing",
      "slug": null,
      "matchId": "8e9d13f4-d783-4218-a2b2-39a95ad49431",
      "evidence": "Top-down funnel calculation from total population to addressable market value.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 6,
      "beatId": "e9079ce5-c7de-4121-8615-3ae679f7ffcd",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "The document presents the limitations and side effects of the product",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 20,
      "from": 14,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "83735121-ef20-47de-bdeb-a1fe30c3f52e",
      "evidence": "The document presents an alternative to CPAP that is effective and minimally invasive",
      "position": 1,
      "objective": "To highlight the cost of inaction for investors",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}