We as dental practitioners have the goal of improving our dental practice, the quality of care we provide, and the number of patients we treat. With the growing awareness of the prevalence and dangers of sleep apnea, the sleep apnea appliance market, continues to grow significantly each year.
What’s the Outlook for Sleep Apnea Devices in the Sleep Apnea Appliance Market?
Estimates show that 170 million people in the Americas and nearly 1 billion people worldwide suffer from sleep apnea.
So it is no surprise that by 2020, it is estimated that the sleep apnea device market will 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.
While the name might be terribly long, we learn a lot about the future of sleep apnea devices, which can significantly improve our practices.
In the report, as presented by www.marketsandmarkets.com, the global sleep apnea device 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, and that’s great news!
The Forecast of Sleep Apnea Devices
Within this study by marketsandmarkets.com, the regions included the following areas:
- North America
- Europe
- Asia-Pacific
- The Rest of the World (Latin America, Central America, and Africa)
Of the regions listed above, North America had the largest share in the sleep apnea market in 2015. Next were Europe and Asia-Pacific. However, the European market is projected to grow at the highest CAGR rate during the target between now and 2020 – don’t knock them out of the equation just yet.
Remain ahead of the game and take advantage of the growth of the sleep apnea device market by continuing your education and knowledge in the field. By receiving ongoing training for yourself and your team, you can grow your sleep practice and provide the best quality of care for your patients.
To learn more about sleep apnea, available treatment options, and upcoming lectures or seminars, please feel free to visit www.NiermanPM.com.Together we can help more patients.
Author: Mayoor Patel, DDS, MS