The sleep apnea oral appliances market is projected to reach USD 482.5 million by 2023 from USD 233.2 million in 2018, at a CAGR of 15.7%. 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 are supporting the growth of the sleep apnea oral appliances market.
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On the basis of product, the sleep apnea oral appliances market is segmented into mandibular advancement devices and tongue-retaining devices. The mandibular advancement devices segment is projected to register the highest growth rate in the forecast period. Key factors driving the growth of the market can be attributed to their popularity backed by the extensive research available supporting their effectiveness over tongue-retaining devices.
On the basis of type, the sleep apnea oral appliances market has been segmented into physician-prescribed/customized oral appliances and online OTC oral appliances. The physician-prescribed/customized oral appliances segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the rising awareness on sleep apnea and increasing patient preference for prescribed and customized oral appliances.
On the bases of region, the sleep apnea oral appliances market is segmented North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, owing to the increasing prevalence of sleep apnea and initiatives by the government and other private organizations to raise awareness about sleep disorders.
Growing demand for home healthcare and poor compliance associated with CPAP are likely to offer growth opportunities to various market players during the forecast period. Major players in the market such as ResMed (US), SomnoMed (Australia), and Whole You (US) are likely to bank on this opportunity to increase their market share in the sleep apnea oral appliances market. Other prominent players in the market that would benefit from this opportunity include Oventus (Australia), Panthera Dental (Canada), Airway Management (US), Apnea Sciences (US), DynaFlex (US), OravanOSA (US), and Myerson (US).
