I have some exciting news to share! The sleep apnea device market has a bright future and that’s great news for us dentists! So, what’s the outlook? Well, by 2020 it is estimated to reach a worth of about $5.3 billion. In the report “Sleep Apnea Devices Market by Product, Diagnostic (PSG, Pulse Oximeter), Therapeutic [CPAP, APAP, BPAP, Masks (Full Face Mask), Oral Appliances (Mandibular Advancement Device)], End User (Home Care Settings, Hospitals) – Analysis & Global Forecasts to 2020”, the major market drivers, restraints/challenges, and opportunities were analyzed and studied.
In the report, as presented by marketsandmarkets.com, the global sleep apnea devices market is studied for the forecast period of 2015-2020. As of 2015, the market was at $3.7 billion, but by 2020, the market is expected to reach $5.3 billion at a CAGR of 7.2% during the forecast period. With 2015 being the highest growth of the market, we will continue to see a growth spurt at the highest rate yet.
A Look at the Forecast
The regions for this study included the following areas:
- North America
- The Rest of the World (Latin America, Central America, and Africa)
We saw North America with the largest share in the sleep apnea market in 2015, followed by Europe and Asia-Pacific. However, the European market has projections to grow at the highest CAGR rate during the target between now and 2020.
ResMed, a major player in the market, continues to observe a strong focus on innovation. Through such a rich pipeline of innovative products in the market opens up so many opportunities for treatment of sleep apnea.
Remain ahead of the game by providing the best treatment options for sleep apnea through oral appliance therapy. Together we can help our patients get a better night’s sleep. To learn more about sleep apnea and available treatment options, visit www.mpateldds.com. You can also view upcoming lectures to help you continue to learn more about this growing industry.