The anti-snoring devices market to grow at a CAGR of 9.8% during the forecast period 2018–2024 to aggregate $1.64 billion by 2024
Increasing awareness about ill effects of snoring, mounting geriatric and obese population, increase in the number of smokers and alcoholics, and a huge volume of snoring population are the factors driving the market growth.
BANGALORE, India – January 02, 2018
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global Anti-snoring Devices Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024” (January 2018).
According to Infoholic Research, increasing awareness about ill effects of snoring, mounting geriatric and obese population, increase in the number of smokers and alcoholics, and a huge volume of snoring population are fostering the global anti-snoring devices market growth. However, the meager effectiveness of present anti-snoring devices accessible in the marketplace and the availability of alternative treatments for snoring are some of the factors hampering the market growth. According to the American Sleep Foundation, in 2017, around 90 million Americans, irrespective of age group and gender, are affected by one or the other respiratory disorder leading to growing pervasiveness of snoring. This is anticipated to intensify the demand for the treatment, and hence fueling the anti-snoring devices market growth. Several studies are conducted in the US, India, Australia, Spain, China, and Korea to provide prevalence data for snoring and OSA. The main testified risk factors were obesity, aging, smoking, and male gender. According to a recent survey, driver fatigue is the cause of around 16–20% of serious road accidents in the UK, Australia, and Brazil. The “Global Anti-snoring Devices” market is expected to grow at a CAGR of 9.8% during the forecast period 2018–2024 to touch an aggregate of $1.64 billion by 2024.
The market is analyzed based on four segments – product type, technology, end-users, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In the North American region, the US is set to be the leading country. Europe is set to be the second leading region and held more than 29.2% of the market share in 2016. In Asia Pacific, India, Japan, and China are the most attractive countries for the players with huge business opportunities. ROW is set to be an emerging market in the next 5–6 years.
The product types covered in the report are oral appliances, nasal devices, position control devices, chin straps, and EPAP devices. Oral appliances are likely to continue to dominate the market until 2024. The oral appliances held nearly half of the market in 2017, and among them, MAD devices had a significant share. Some of the key players in this segment include Sleeping Well, Sleep Well Enjoy Life, Apnea Sciences, and MEDiTAS. Nasal devices are next to the oral appliances, which is led by GlaxoSmithKline.
Based on technology types, the market is segmented into hospitals & clinics and home healthcare. The market is dominated by hospitals & clinics. The sleep clinics that recommend anti-snoring oral appliances to their patients has shown a positive success rate as high as 94%. However, this success rate may vary between individuals. Yet, there has been an increase in the demand for home healthcare during the forecast period. This increase in home care has given rise to many technological advanced and portable products.
“Many companies are concentrating on product innovation to reinforce their spot in the market. For instance, Oventus Medical, based in Australia, has recently launched a 3D printed anti-snoring device named O2Vent that can be customized based on an individual’s need. It is a lightweight titanium device and can help patients stop snoring by delivering air to the back of his or her mouth. Such modernizations hold the great potential for the success of the company in the market.” – Rikitha K Murthy, Research Analyst (Research – Healthcare) at Infoholic Research
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Further, the report also aims to cover the below-mentioned points:
- 1. Provides an in-depth analysis of key business opportunities in countries and verticals.
- 2. Provides the complete details about various types of anti-snoring devices.
- 3. Provides the complete details about the analysis of top 12 players.
- 4. Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies.