(PharmaNewsWire.Com, November 04, 2021 ) The global sleep apnea oral appliances market is expected to register a CAGR of 15.7% during the forecast period to reach USD 482.5 Million by 2023 from USD 197.8 Million in 2017. The key factors driving the growth of the market include the 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. Poor compliance for PAP devices and the growing demand for Home Healthcare are likely to offer growth opportunities during the forecast period.
Based on type, the market is segmented into physician-prescribed/customized oral appliances and online OTC oral appliances. The physician-prescribed/customized oral appliances segment accounted for the largest share and accounted for the highest CAGR of the market during the forecast period. The large share and high growth can be attributed to the rising awareness of sleep apnea and increasing patient preference for prescribed and customized oral appliances.
By product, the market is segmented into mandibular advancement devices and tongue-retaining devices. The mandibular advancement devices segment commanded the largest share of the global market. This segment is also expected to register the highest CAGR during the forecast period. 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.
By region, the market is segmented into North America, Europe, Asia Pacific, and the RoW. Asia Pacific is expected to register the highest CAGR during the forecast period. The growth of the market can be attributed to factors such as the increasing prevalence of sleep apnea and initiatives by the government and other private organizations to raise awareness regarding sleep disorders.
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 are expected to limit the growth of the market to a certain extent.
The major market players in the sleep apnea oral appliances market include ResMed (US), SomnoMed (Australia), and Whole You (US). Other players in the market include Oventus (Australia), Panthera Dental (Canada), Airway Management (US), Apnea Sciences (US), DynaFlex (US), OravanOSA (US), and Myerson (US).
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