by Anti-Snoring Devices Market Poised to Witness High Growth Owing to Increasing Cases of Sleep Apnea
Anti-snoring devices are oral appliances worn during sleep that are designed to prevent obstruction of the airway and decrease snoring sounds. These devices are worn in the mouth and help improve breathing by advancing the lower jaw slightly and opening the airway. The growing awareness regarding the negative health impacts of snoring and rising prevalence of sleep apnea are expected to drive the demand for anti-snoring devices.
The Anti-Snoring Devices Market is estimated to be valued at USD 1.6 Bn in 2024 and is expected to reach USD 2.58 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.
Key Takeaways
Key players operating in the Anti-Snoring Devices are ResMed,Koninklijke Philips NV,SomnoMed,Fisher & Paykel Healthcare Limited,GSK plc.. These players are focusing on new product launches and geographical expansion to gain market share.
The key opportunities in the market include growing popularity of online sales channels and increasing adoption of medical tourism in developing countries for cost-effective treatment of sleep disorders. Several developing Asian countries are emerging as popular destinations for medical tourism and can help anti-snoring device manufacturers tap new customer bases.
Owing to the increasing global incidence of sleep apnea, major players are focusing on expanding their presence in developing regions including Asia Pacific and Latin America. Favorable government support and initiatives to spread awareness regarding sleep disorders in developing countries offer exponential growth prospects for anti-snoring devices.
Market Drivers
The increasing prevalence of obesity and rising geriatric population are key factors driving the demand for anti-snoring devices globally. Conditions like obesity are recognized risk factors for sleep apnea. According to the WHO, nearly 2.8 million people die each year as a result of being overweight or obese. Moreover, aging leads to weakening of throat muscles that support airway opening during sleep, contributing to increased snoring and sleep apnea risk among the elderly population.
PEST Analysis
Political: Regulations around the use of medical devices could impact the sales of anti-snoring devices. For example, new standards around safety and efficacy.
Economic: Overall economic growth and disposable incomes influence consumer spending on anti-snoring devices. A recession may negatively impact the market.
Social: Increased social awareness around sleep-related issues and the impact of snoring on relationships could drive more people to seek treatment options like anti-snoring devices.
Technological: Advancements in materials and design of anti-snoring devices help provide more comfortable and effective solutions. Digital features in some devices now allow monitoring of usage data.
Geographical concentration
North America currently accounts for the largest share of the global anti-snoring devices market in terms of value. This is attributed to factors such as growing awareness about sleep disorders, rise in healthcare expenditure, and availability of technologically advanced anti-snoring devices.
Fastest growing region
The anti-snoring devices market in Asia Pacific is expected to grow at the fastest rate during the forecast period. This can be attributed to rising living standards, growing medical tourism industry, increasing prevalence of lifestyle diseases, and expansion of key market players in various countries in the region.
What Are The Key Data Covered In This Anti-Snoring Devices Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Anti-Snoring Devices’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Anti-Snoring Devices and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Anti-Snoring Devices Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Anti-Snoring Devices vendors
FAQ’s
Q.1 What are the main factors influencing the Anti-Snoring Devices?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Anti-Snoring Devices companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Anti-Snoring Devices’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
