Anti-Snoring Treatment Market Growth, Analysis - Segmented by Treatment Technique (By Device, By Surgical Procedure) and Geography - Trends, and Forecast (2018 - 2023)
The anti-snoring treatment market was valued at USD 910.1 million in 2017 and is expected to register a CAGR of about 10.5% during the forecast period, 2018-2023. An increase in the number of people suffering from snoring is one of the major factors creating the demand for user-friendly, efficacious, and economical anti-snoring devices, thus, driving the anti-snoring treatment market. The Asia-Pacific region is expected to provide high growth opportunities for the anti-snoring treatment market. Due to factors, such as the diversified patient pool, improving healthcare, and developing economies in the emerging markets, the anti-snoring treatment market is expected is expand quickly over the forecast period.
Increasing Obesity and Geriatric Population Drives the Anti-Snoring Treatment Market
Increasing obesity and a rise in geriatric population are some of the primary factors driving the demand for the anti-snoring treatment market. According to the World Health Organization (WHO), the obese population tripled between 1975 and 2016. WHO also states that, in 2016, more than 1.9 billion adults were overweight and over 650 million were in the obese category. Among children, more than 40 million below the age of five were overweight or obese. Snoring is highest among the population aging between 40 to 60 years old. In addition, as per the OECD, 2017, about one in two adults and one in six children are overweight. Although the growth rate of obesity has decreased owing to increasing awareness but the existing pool is the large population contributing to the increasing demand of anti-snoring treatment.Other factors driving this market are increasing smoking and alcohol consumption, technological advancement in anti-snoring devices, and increased awareness among the population in the developed markets.
The Social Stigma Associated with Snoring Acts as a Major Barrier for the Anti-snoring Treatment Market
The social stigma associated with snoring is among the major factors hindering the usage of these of devices and surgical equipment in certain regions. Both, male and female population are affected by traditional prejudices and it often leads to sleep apnea remaining undiagnosed for years. In many cases, patients are incorrectly diagnosed with other indications, such as menopausal changes, anemia, diabetes, hypertension, and depression among others. Many patients relate snoring to laziness and lack of ambition, which restricts them from approaching physicians and doctors for using devices or opting for surgical procedures.Other factors affecting this market are the high cost of custom-made oral devices, poor efficacy, and lack of scientific validation of the anti-snoring devices.
Market Segmentation Insights for the Anti-snoring Treatment Market
In devices type segment, continuous positive airway pressure (CPAP) to consume the largest share, about 35% in 2017, in this market. It is among the most common modality of treatment among adults and children. Many companies involve combination therapies along with CPAP. With a large section of population having difficulty with deep sleep and snoring during sleep, CPAP is among the most preferred device by doctors and physicians.
In the surgical procedure segment, Uvulopalatopharyngoplasty (UPPP) has good success rate and estimated to occupy largest share in this market. UPPP is often effective in reducing snoring initially. Over the long-term period, it cures snoring significantly of those who have had this surgery. The procedure is also cost effective in most of the developed markets which is successful in stopping the throat structures from rattling and causing snoring.
Asia-Pacific is Expected to have High Growth Opportunites in Anti-snoring Treatment Market
The Asia-Pacific region has a large diversified patient population, improving healthcare infrastructure, and countries with high economic growth in the past few years, such as India and China. The Asia-Pacific region is dominated by private hospitals, community healthcare, home healthcare, and sleep clinics. As per the WHO, Australia, Thailand, Malaysia, and South Korea are the countries with high obese and overweight population, and India and Vietnam are among the least. The countries in the Asia-Pacific region have a range of life sciences companies with innovative medical research facilities that attract major multinational players, thus, increasing the growth opportunities over the forecast period.
Key Developments in the Market
- Feb 2018 - The Center for Craniofacial & Dental Sleep Medicine (CFDSM) received FDA clearance for obstructive sleep apnea (OSA) and snoring appliance- The Meridian PM oral appliance.
Major Players -AccuMED Corp, Apnea Sciences, Fisher & Paykel Healthcare Limited, Koninklijke Philips NV, Meditas, Resmed, among others.
Reasons to Purchase the Report
- Current and future anti-snoring treatment market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
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