Portland, OR, June 22, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report titled, "Anti-snoring Devices Market, By Product (Mouthguard, Nasal Devices, EPAP Device, and Others), By End User (Homecare and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032." According to the report, the global anti-snoring devices industry was estimated at $233.9 million in 2022 and is anticipated to register $511.4 million by 2032, registering a CAGR of 8.1% from 2023 to 2033.
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Prime Determinants of Growth: -
The global anti-snoring devices market is experiencing growth due to factors such as the rise in prevalence of snoring and an increase in awareness about the risks associated with snoring. However, the inconvenience and discomfort of anti-snoring devices and the availability of alternative treatment options are hampering the market's growth. On the contrary, technological advancement in anti-snoring devices, such as non-invasive smart wearable devices, is expected to offer remunerative opportunities for the growth of the anti-snoring devices market during the forecast period.
Report Coverage & Details: -
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $233.9 Million |
| Market Size in 2032 | $511.4 Million |
| CAGR | 8.1% |
| No. of Pages in Report | 243 |
| Segments Covered | Product, End User, and Region |
| Drivers | Rise in the prevalence of snoring Increase in awareness about the risks associated with snoring |
| Opportunity | Technological advancements in anti-snoring devices |
| Restraint | Discomfort and inconvenience associated with anti-snoring devices |
COVID-19 Scenario: -
- Due to the COVID-19 pandemic and the subsequent global lockdowns, the anti-snoring devices market was moderately driven by an increase in the sale of anti-snoring devices through e-commerce platforms.
- Furthermore, the demand for anti-snoring devices is increasing post-pandemic due to the rise in the prevalence of snoring and the easy availability of anti-snoring devices. This, in turn, presented various growth opportunities for companies operating in the anti-snoring devices market.
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The mouthguard segment to maintain its leadership status throughout the forecast period-
Based on product, the mouthguard segment held the highest market share in 2022, accounting for nearly three-fifths of the global anti-snoring devices market revenue, and is projected to maintain its leadership status throughout the forecast period. The same segment is projected to manifest the highest CAGR of 8.5% from 2023 to 2032. Owing to an increase in the prevalence of snoring and a surge in the use of mouthguards, as they are the most commonly used anti-snoring devices.
The homecare segment to maintain its lead position during the forecast period-
Based on end user, the pharmaceutical packaging segment accounted for the largest share in 2022, contributing to more than three-fifths of the global anti-snoring devices market revenue, and is expected to maintain its lead position during the forecast period. The same segment would display the fastest CAGR of 8.4% from 2023 to 2032. owing to the increase in use of anti-snoring devices by homebound patients and the easy accessibility of anti-snoring devices through online websites.
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North America to maintain its dominance by 2032-
Based on region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global anti-snoring devices market revenue, and is projected to maintain its dominance by 2032.This is due to the rise in adoption of advanced anti-snoring devices, the increase in prevalence of snoring, and the strong presence of market key players. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.2% from 2023 to 2032, Due to an increase in the use of anti-snoring devices, an increase in healthcare expenses, and a rise in awareness of the potential risks associated with snoring.
Leading Market Players: -
- SomnoMed
- Apnea Sciences
- ZQuiet
- ResMed Inc.
- Airway Management, Inc.
- Pure Sleep, LLC
- Rhinomed
- DentCare Dental Lab Pvt. Ltd
- VVFLY Snore Circle
- Koninklijke Philips N.V.
The report provides a detailed analysis of these key players in the global anti-snoring devices market. These players have adopted strategies such as product launches to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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