Global Anti-snoring Treatment Market - Segmented by Treatment Technique and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global anti-snoring treatment market is expected to register a CAGR of about 7.5% 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.
Increase in Obesity and Geriatric Population
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.
Other factors driving this market are increasing smoking and alcohol consumption, technological advancements in anti-snoring devices, and increased awareness among the population in the developed markets.
Social Stigma Associated with Snoring
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.
Asia-Pacific is Expected to have High Growth Opportunites
The Asia-Pacific region has a large diversified patient population, improving healthcare infrastructure, and countries with high economic growth in 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