CHICAGO, Dec. 12, 2023 /PRNewswire/ -- Sleep Apnea Oral Appliances Market in terms of revenue was estimated to be worth $0.4 billion in 2023 and is poised to reach $0.9 billion by 2028, growing at a CAGR of 15.2% from 2023 to 2028 according to a new report by MarketsandMarkets. The growth of this market is majorly driven by the high risk of growing awarrness and diagnosis of sleep apnea among patients and healthcare professionals. Furthermore, the poor compliance associated with CPAP is expected to drive the growth of the sleep apnea oral appliances market.
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Sleep Apnea Oral Appliances Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $0.4 Billion |
Estimated Value by 2028 | $0.9 Billion |
Growth Rate | Poised to grow at a CAGR of 15.2% |
Market Size Available for | 2021-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Purchase Type, Gender, Age group, Distribution Channel and End User |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Poor compliance associated with CPAP |
Key Market Drivers | Large pool of undiagnosed sleep apnea patients |
The mandibular advancement devices segment is expected to account for the largest share in 2022.
Mandibular advamcement devices force the lower jaw forward and downwards slightly, which keeps the airway open. The device helps treat OSA by offering maximum anterior tongue space along with the retention of teeth movement. This segment is expected to dominate the global sleep apnea oral appliances market during the forecast period, driven by a rising patient preference for non-CPAP solutions due comfort and ease of use.
The fertility clinics segment held the largest market share in the sleep apnea oral appliances market.
By end user, the global sleep apnea oral appliances market is broadly segmented into home care settings/individuals, hospitals, and dental clinics. The large share of this segment can be attributed to factors such as the increasing number of sleep centers globally, the rise of number of sleep care devices for homecare settings offered by leading players.
North America dominates the global sleep apnea oral appliances market.
Based on the region, the sleep apnea oral appliances market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North American market is driven by high prevalence and diagnosis of sleep apnea in the region. Europe is the second-largest market for the sleep apnea oral appliances market due to the growing aging population in the region. Asia Pacific will observe high growth during the forecast period with its growing healthcare expenditure with improving accessibility to sleep clinics and treatment for sleep apnea in the region's countries.
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Sleep Apnea Oral Appliances Market Dynamics:
Drivers:
1. Large pool of undiagnosed sleep apnea patients
Restraints:
1. Associated risks of oral appliances for obstructive sleep apnea treatment
Opportunities:
1. Poor compliance associated with CPAP
Challenge:
1. Expenses associated with customization of oral appliances
Key Market Players of Sleep Apnea Oral Appliances Industry:
Major players in the sleep apnea oral appliances market include SonmoMed (Australia), resMed (US), Whole You, Inc. (US), ProSomnus Sleep Technologies (US), and Vivos Therapeutics, Inc. (US).
Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Company Type: Tier 1 (40%), Tier 2 (50%), and Tier 3 (10%)
- By Designation: C-level (48%), Director-level (37%), and Others (15%)
- By Region: North America (56%), Europe (20%), Asia- Pacific (17%), and Rest of the World (7%)
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Sleep Apnea Oral Appliances Market Recent Developments:
- In 2023, Vivos Therapeutics, Inc. (US) DNA appliance was granted 510(k) clearance from the U.S. Food & Drug Administration (or FDA) as a Class II medical device in December 2022 for the treatment of snoring and mild to moderate OSA in adults.
- In 2022, ResMed (US) acquired the German-based clinical, financial, and operational solutions provider MEDIFOX DAN (Germany) to drive leadership in out-of-hospital software solutions.
- In 2021, SomoMed (Australia) conducted SomSUMMIT '21, which aimed to enhance research, education, and awareness of oral appliance therapy as a primary solution to successful OSA treatment.
Sleep Apnea Oral Appliances Market - Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall sleep apnea oral appliance market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (large pool of undiagnosed sleep apnea patients, growing awareness of effects of untreated sleep apnea, growing usage of oral appliance), restraints (high prices of customized oral appliances, alternative therapies and medications, risks associated with oral appliance therapy for obstructive sleep apnea), opportunities (growing demand for home sleep apnea tests, increasing focus on telemedicine, mHealth, and AI, poor compliance associated with CPAP), and challenges (complex referral pathways and long waiting periods) influencing the growth of the sleep apnea oral appliance market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the sleep apnea oral appliance market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the sleep apnea oral appliance market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the sleep apnea oral appliance market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like SomnoMed (Australia), ResMed (US), and ProSomnus Sleep Technologies (US), among others in the sleep apnea oral appliance market strategies.
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