Anti-snoring Treatment Market | Regional Growth Forecast 2021-2027
The anti-snoring treatment industry will witness considerable growth with the higher prevalence of sleep disorders and the deployment of advanced technologies to offer sleep control and management. The growing inclination towards unhealthy and sedentary lifestyles by individuals has resulted in obesity, which can be ranked as a leading cause for the development of snoring habits.
As per the American Sleep Association, over 50 to 70 million adults have acquired a sleep disorder and approximately 48% of the U.S. adults have reported snoring. This increasing patient pool has added positive impetus to the launch of advanced anti-snoring devices to cater to consumer requirements.
The inclining awareness regarding sleep disorders and their treatment methods has pushed solution providers in the industry to come up with advanced solutions and anti-snoring appliances. Furthermore, the anatomic abnormalities related to the throat and nose that lead to noisy breathing while sleeping will further bolster the adoption of anti-snoring devices, such as mandible advancement, nasal as well as continuous positive airway pressure devices.
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A research report by Global Market Insights, Inc., states that the global anti-snoring treatment market size will surpass USD 8.2 billion in revenue by 2027.
The growth is attributed to increasing adoption of nasal anti-snoring devices. In fact, the industry share from these devices reached USD 665.8 million in 2020 owing to their higher abilities in relieving snoring. Dilators or nasal strips are used to keep nostrils open throughout the sleep of the individual. Increasing instances of snoring have paved the way for rising developments in these devices to offer effective treatment. For instance, in 2016, Dublin start-up Nasal Medical, introduced Discrete Snoring Aid, an anti-snoring device that dilates the nasal passage to improve breathing. Furthermore, miniaturized, portable as well as flexible nasal devices are also increasingly employed to cater to the daily requirements of the affected individuals.
Hospitals contributed to a revenue share of close to USD 900 million in 2020 due to the surge in the instances of patient visits opting for anti-snoring remedies at these facilities. Increasing awareness and higher product availability have resulted in rising promotion activities by industry participants in hospitals. The required education and information offered by the physicians on the use of devices has also stirred the preference for these settings.
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The anti-snoring treatment market in Asia Pacific is slated to record a 9.2% CAGR up to 2027 driven by the rising cases of obesity as well as the adaption of sedentary lifestyle patterns across the emerging economies. The rise in disposable incomes of the regional consumers has stirred the demand for advanced treatment therapies to tend to sleep disorders. This has led several established and start-up companies in the region to develop novel technologies to offer sleep monitoring and remedies for abnormalities.
Providers of anti-snoring treatment devices and solutions are also contributing to industry growth by actively taking up inorganic strategies, including product innovations, and partnerships to be at the receiving end of competitive advantages for business expansion. To state an instance, Fisher & Paykel Appliances Ltd., In May 2017, launched a continuous positive airway pressure device, called F&P SleepStyle. This novelty is used in the effective treatment of obstructive sleep apnea and helped to enhance the company’s product portfolio.
The firms are also consistently working on advancing their treatment solutions. Quoting the same with an example, the U.S. FDA recently offered its approval for eXciteOSA, which is the first-ever intraoral neuromuscular stimulation device employed for the daytime treatment of snoring.
Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Anti-snoring treatment market industry 3600 synopsis
2.1.1 Business trends
2.1.2 Device type trends
2.1.3 Distribution channel trends
2.1.4 Regional trends
Chapter 3 Anti-snoring Treatment Market Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Rising geriatric and obese people
3.3.1.2 Growing cigarette and alcohol consumption
3.3.1.3 Technological advancement in anti-snoring devices
3.3.1.4 Increasing prevalence of sleep disorder
3.3.2 Industry pitfalls & challenges
3.3.2.1 High cost of devices
3.3.2.2 Lack of reimbursement policies
3.4 Growth potential analysis
3.4.1 By device
3.4.2 By distribution channel
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter's analysis
3.8 Competitive landscape, 2020
3.9 PESTEL analysis
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