Newark, NJ, May 27, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global anti-snoring treatment market is expected to grow from USD 4.3 billion in 2020 to USD 8.6 billion by 2028, at a CAGR of 9.07% during the forecast period 2021-2028
Certain factors are boosting the growth of the global anti-snoring treatment market. Some of them include making a geriatric population, smoking consumption, increasing obese people, and snoring a common problem with the people at a grown age. Moreover, chronic snoring is highly associated with the anatomy of an individual's mouth. Narrowing of airways due to excess weight leads to obstruction in breathing, thereby growing the incidence of snoring. As per the National Sleep Foundation, snoring has been often observed as a common problem among people of all ages irrespective of gender, affecting over 90 million people in the U.S. only.
Snoring is a general disorder caused due to repetitive collapsing and narrowing of the upper airway. Snoring not only interrupts the sleeping pattern but also reduces the sleep quality of a person. Chronic snoring can signify critical health problems and obstructive sleep apnea like a strain on the heart, light sleeping, interruptions in breathing, frequent waking from sleep, and poor night sleep. The Anti-snoring treatment helps relieve a particular form of snoring. Also, people with snoring problems are at increased risk of accidental injury, depression and anxiety, heart disease and stroke. The treatment includes surgery and non-surgical devices. The Anti-snoring treatment helps relieve a particular form of snoring. Also, people with snoring problems are at increased risk of accidental injury, depression and anxiety, heart disease and stroke. The treatment includes surgery and non-surgical devices.
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The global anti-snoring treatment market is expected to witness significant growth. The increasing incidence of snoring is pregnancies, obesity, chronic nasal congestion, alcohol consumption, and use of sedative medication. Moreover, rising awareness and incidence of snoring disorders will fuel the market expansion. Adopting a sedentary and unhealthy lifestyle leads to an increase in the number of obese individuals, which is considered one of the major causes of developing snoring habits. Improved healthcare infrastructure and rising R&D have led to the development of various products and innovations in the sector, which is expected to enhance the growth of the anti-snoring treatment industry. The factors restraining the market growth are the poor efficacy of the current anti-snoring treatments available in the market, the high cost of devices, and the lack of reimbursement policies. Further, the social stigma attributed to snoring is among the major factors hindering the usage of these devices and surgical equipment in some regions. Both female and male populations are concerned by traditional prejudices, often leading to sleep apnea surviving undiagnosed for years. The presence of a large pool of emerging economies and untreated population provide new growth opportunities in the anti-snoring treatments market.
Key players operating in the anti-snoring treatment market include Airway Management, ResMed, Theravent, Philips Healthcare, Tomed GmBH, SomnoMed, and GlaxoSmithKline Plc. To gain a significant market share in the global anti-snoring treatment market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. ResMed and Rotech Healthcare are vital manufacturers operating in the anti-snoring treatment market.
- For instance, in September 2020, "AirTouch N20 CPAP" was introduced by ResMed Inc. It is a nasal mask featured with a memory foam cushion.
- For instance, in February 2021, the U.S. Food and Drug Administration approved the commercialization of a prescription-only anti-snoring treatment, "eXciteOSA," developed by Rotech Healthcare.
The e-commerce segment dominated the market and held the largest market share of 28.15 % in 2020.
Based on the distribution channel, the global anti-snoring treatment market is segmented into e-commerce, hospitals, retail pharmacies, clinics, and others. The e-commerce segment dominated the market and held the largest market share of 28.15 % in 2020. This growth is attributed to the high usage and price.
The continuous positive airway pressure device segment dominated the market and held the largest market share of 27.14 % in 2020.
Based on devices, the global anti-snoring treatment market is segmented into tongue stabilizing devices, continuous positive airway pressure devices, mandible advancement devices, chin straps, nasal devices. The continuous positive airway pressure device segment dominated the market and held the largest market share of 27.14 % in 2020. This growth is attributed to technological awareness and advancements in oral devices.
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Regional Segment Analysis of the Anti-Snoring Treatment Market
- North America (U.S, Canada, Mexico)
- Europe (Germany, France, U.K, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- Latin America (Brazil)
- The Middle East and Africa (South Africa, Saudi Arabia and the Rest of MEA)
Based on geography, the anti-snoring treatment market has been classified into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America region held the largest market share of 28.12% in 2020, owing to increasing demand from sleep apnea patients. On the other hand, the Asia-Pacific region is witnessing significant growth due to the increasing prevalence of acceptance and obesity of sedentary lifestyles in emerging economies. The countries in the Asia-Pacific region have a series of life sciences companies with innovative medicinal research facilities that attract significant multinational players, thus, improving the growth opportunities over the forecast period.
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About the report:
The global anti-snoring treatment market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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