Anti-Snoring Treatment Has Become Highly Sought-after to Curb Rising Cases of Sleep Apnea: Fact.MR

Technological advances introduced in anti-snoring devices will emerge as chief growth drivers

As per a study by Fact.MR, the global anti-snoring treatment market is expected to surpass a valuation of US$ 8.6 billion by the year 2031. The market is estimated to project a compound annual growth rate at a CAGR of 9.07% during the forecast period 2021-2031. Some of the factors such as the increasing number of cigarette smokers, alcoholics, and obese population are boosting the anti-snoring treatment market.

As per a study by the Centers for Disease Control and Prevention, in 2017-2018, around 42.4% of age-adjusted cases of obesity were recorded among the U.S. adults. As obesity is considered one of the vital causes of developing snoring habits, the rising prevalence of obesity is expected to drive the growth of the anti-snoring treatment market.

According to the American Sleep Association, over 50 to 70 million adults in the U.S. are suffering from sleep disorders, out of which 48% of the people have reported snoring. Thus, the rising demand for treatment of snoring is creating lucrative growth opportunity for the anti-snoring treatment market.

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Increasing technological advancement of anti-snoring treatment devices is anticipated to spur the growth of the anti-snoring treatment market over the forecast period. For instance, Apnea Sciences Corporation launched a customized mandibular device named SnoreRx, for the treatment of snoring. This, surging demand for such novel devices is estimated to positively impact the market growth.

“Companies operating in the anti-snoring treatment market are focusing on developing non-invasive oral and nasal devices to expand their product portfolio. Besides this, they are using e-commerce as their distribution channel to expand their reach and market share,” says the Fact.MR analyst.

Key Takeaways

  • North America is leading the global anti-snoring treatment market and is expected to surpass a market share of 28.12% in 2021.
  • Asia-Pacific is emerging as a lucrative market due to the rising prevalence of obesity and acceptance of sedentary lifestyles in emerging economies.
  • India anti-snoring treatment market is expected to expand at a CAGR of 4.0% during the assessment period owing to the presence of a large pool of untreated individuals with snoring conditions.
  • Continuous positive airway pressure device is likely to dominate the segment with a share of 27.14% in the year 2020.
  • On the basis of end-users, the e-commerce segment accounted for 28.15%, the largest market share in 2020.

Key Drivers

  • Increasing adoption of a sedentary and unhealthy lifestyle leading to obesity is expected to boost the market growth.
  • Growing awareness regarding sleep-related disorders will boost the demand for anti-snoring treatments.
  • Rising incidence of obstructive sleep apnea is projected to drive the market growth
  • Technological advancements in anti-snoring treatment will fuel the growth of the market.

Key Restraints

  • Poor efficacy of the anti-snoring treatments available in the market is restraining the market growth.
  • High cost of anti-snoring devices is hampering the demand for the treatment.
  • Lack of favorable reimbursement policies poses a challenge to the growth of the anti-snoring treatments market.

Competitive Landscape

Prominent players operating in the anti-snoring treatments market profiled by Fact.MR includes Medtronic Plc, Philips Healthcare, GlaxoSmithKline Plc, SomnoMed, Airway Management, Inspire Medical Systems Inc., Nyxoah SA, TomedGmBH, Respicardia Inc., Alaska Sleep Clinic, Pillar Palatal LLC/ The Snoring Center, and LinguaFlex LLC.

Some of the manufacturers and suppliers operating in the anti-snoring treatment market are engaging into strategic agreements to enhance their product portfolio and focusing on receiving regulatory approval for the products. For instance,

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  • ResMed Inc introduced its new product named "AirTouch N20 CPAP," a nasal mask featured with a memory foam cushion in September 2020.
  • In February 2021, Rotech Healthcare announced that they have received approval for their novel product named, “eXciteOSA," from the U.S. Food and Drug Administration.

More Insights on the Anti-Snoring Treatment Market

Fact.MR offers unbiased analysis of the anti-snoring treatment market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of devices (oral appliances, nasal devices, position control devices, chin straps, continuous positive airway pressure (CPAP), therapy machine, and others), indication (obstructive sleep apnea and central sleep apnea), treatment (diagnosis and surgery), distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).

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Source: Fact.MR

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