Sleep Apnea Services, a $4.3 Billion Global Market, Continues to See Accelerated Demand
Sleep disorders are nothing new as Americans have battled with getting a good nights sleep for decades. However, the global pandemic, social anxieties, and work-focused culture over the past several years have created a whole new demand for sleep care. Sleep disorders affect 70 million Americans of all ages and socioeconomic classes. And the problems continue mounting. According to the National Sleep Foundation's inaugural Sleep Health Index, 45% of Americans say that poor or insufficient sleep affected their daily activities at least once in the past seven days. 35% of Americans don't get the recommended seven hours of sleep each night.
The global sleep apnea market was estimated to be $4.3 billion in 2018 and expected to grow at an 11.2% compounded annual growth rate (CAGR) to $9.1 billion by 2025. Sleep care and sleep services are sprouting as clinicians focus on solutions to help Americans' daily growing pain point. While traditional CPAP devices have been around for decades and may be viewed as a 'clunky' or 'outdated' solution, the technology has vastly improved in recent years. In addition, other solutions have come to light including oral appliance therapy (OAT), airway stimulation devices, and surgeries. Oral appliances have become a popular alternative to CPAP machines, as the market offers dozens of popular, customized, and effective sleep solutions based on the patient's individual needs.
If you operate a sleep clinic or chain of sleep labs and are looking to accelerate your growth please reach out to the RiverStone Reporting team. We have extensive experience in CPAP and oral appliance therapy and understand the robust need for sleep care and sleep therapy, services that have significant demand but needs are largely unmet. We can help your practice open new locations, evaluate the current competitive landscape, improve margins, and gain better insight into your company's operations and performance.