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(Health-NewsWire.Net, November 12, 2021 ) According to a new market research report Sleep Apnea Oral Appliances Market by Product, (Mandibular Advancement Devices (Mad) & Tongue-Retaining Devices (TRD)), Type (Physician Prescribed/Customized Oral Appliances & Online OTC Oral Appliances) - Global Forecasts to 2023, the market is projected to reach USD 482.5 Million by 2023 from an estimated USD 233.2 Million in 2018, at a CAGR of 15.7%.
Growth in this market is mainly driven by 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.
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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.
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Key Players of Market:
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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