The sleep apnea oral appliances market is projected to register a CAGR of 15.7%
NEW YORK, May 31, 2018 /PRNewswire/ --
The sleep apnea oral appliances market is projected to register a CAGR of 15.7%.
The sleep apnea oral appliances market is projected to reach USD 482.5 million by 2023 from an estimated USD 233.2 million in 2018. The major influencing factors driving the growth of this market are growing popularity of oral appliances in sleep apnea management, technological advancements in oral appliances, a large pool of undiagnosed sleep apnea patients, and growing awareness about sleep apnea. However, complex referral pathways, coupled with long waiting periods at sleep centers, often acts as a deterrent for the effective diagnosis and treatment of sleep apnea. This is expected to restrain market growth in the forecast period.
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The mandibular advancement devices segment to dominate the sleep apnea oral appliances market during the forecast period
On the basis of product, the market is segmented into mandibular advancement devices and tongue-retaining devices.In 2017, the mandibular advancement devices segment commanded the largest share of the global sleep apnea oral appliances market.
This segment is also expected to register the highest CAGR from 2018 to 2023. The large share and high growth can be attributed to the popularity of MADs backed up by the extensive research available supporting their effectiveness over TRDs.
The home care/individuals segment is expected to be the fastest growing type segment
Based on type, the sleep apnea oral appliances market is segmented into physician-prescribed/ customized oral appliances and online OTC oral appliances.The physician-prescribed/customized oral appliances segment is expected to register the highest CAGR of the sleep apnea oral appliances market during the forecast period.
The high growth can be attributed to the rising awareness of sleep apnea and increasing patient preference for prescribed and customized oral appliances.
In 2017, North America dominated the sleep apnea oral appliances market and Asia Pacific is projected to grow at the highest CAGR during the forecast period
The sleep apnea oral appliances market is divided into four major regions—North America, Europe, Asia Pacific, and the Rest of the World.In 2017, North America accounted for the largest share of the global sleep apnea oral appliances market.
The rising prevalence of sleep apnea in the region coupled with the growing demand for alternative treatment options due to poor compliance associated with CPAP is driving the market for sleep apnea oral appliances in the region. In addition, rising awareness regarding the disorder; less complicated reimbursement scenario for oral appliance therapy (OAT); and increased acceptance of OAT by physicians, dentists, patients, and insurance companies are also supporting the growth of the sleep apnea oral appliances market in North America.
Asia Pacific is expected to register the highest CAGR during the forecast period. Major factors driving the growth of this regional segment include increasing prevalence of sleep apnea and initiatives by the government and other private organizations to raise awareness regarding sleep disorders.
Breakup of primary participants was as mentioned below:
• By Company Type – Tier 1: 40%, Tier 2: 55%, and Tier 3: 5%
• By Designation – C-level: 48%, Director Level: 37%, Others: 15%
• By Region – North America: 56%, Europe: 20%, Asia Pacific: 17%, RoW: 7%
The major market players in the sleep apnea oral appliances market include ResMed (US), SomnoMed (Australia), and Whole You (US).
Research Coverage:
The report analyzes the market and aims at estimating the market size and the future growth potential of this market based on various segments such as type, product, and region. The report also includes the competitive landscape of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on products and services offered by the top players in the global sleep apnea oral appliances market
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the sleep apnea oral appliances market
• Market Development: Comprehensive information about the lucrative emerging markets by type, end user, and region
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global sleep apnea oral appliances market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global sleep apnea oral appliances market
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