According to the latest report published by Credence Research, Inc. “Anti-snoring Devices and Snoring Surgery Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global anti-snoring devices and snoring surgery market was valued at US$ 810 Mn in 2016, and is expected to reach US$ 1,751.1 Mn by 2025, expanding at a CAGR of 9% from 2017 to 2025.
Snoring is a very common problem affecting people globally from aged to young population. Snoring is caused on account of airway blockage by any means like nasal congestion or inappropriate mouth structure. Snoring is an indicator of various health issues like cardiovascular diseases, diabetes, gastroesophageal reflux disease, poor mental health, hence the treatment is necessary.
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The treatment areas for treating snoring contains non-invasive anti-snoring devices and also surgical procedures; latter are required when device fails to diminish the problems. The continuous efforts from various manufacturer to produce innovative products has already been predicted to provide substantial growth to the anti-snoring devices and snoring surgery market. The new IoT technology, wireless device have penetrated the healthcare market and smart anti-snoring products are developed involving this technology which is believed to bring about valuable growth to anti-snoring and snoring surgery market.
Anti-snoring and snoring surgery market is growing owing to rising geriatric population. Increasing healthcare expenditure in producing innovative products lead the market to grow, hence newer technology are emerging with potential benefits and the acceptance of these products drive the growth of the market. The overall healthcare concern among public in the developed region of the world contributes to the growth of anti-snoring and snoring surgery market. Advantages of having reimbursement policies in anti-snoring devices and the easy government approval system positively influence the anti-snoring devices and snoring surgery market. However, the financial constraints and lack of proper awareness among public in developing areas may restrain the growth of anti-snoring and snoring surgery market.
Based on the device types, the anti-snoring device and snoring surgery market is classified as follows:
- Oral Appliances
- Tongue-retaining devices (TRD)
- Mandibular advancement devices (MAD)
- Continuous Positive Airway Pressure (CPAP)
- Nasal products
- Anti-snoring pillow
- Chin Straps
- Vestibular shields
On the basis of the surgical procedure types, the anti-snoring device and snoring surgery market is categorized as:
- Uvulopalatopharyngoplasty (UPPP)
- Laser-assisted uvuloplatoplasty (LAUP)
- Radio-frequency ablation or Somnoplasty
- Platal stiffening operations (CAPSO)
- Radiofrequency Turbinate Reduction (RFTR)
- Pillar procedures
Geographically, in the year 2016, North America is expected to dominate the anti-snoring and snoring surgery market followed by Europe. The increasing burden of aging population and obesity are positively driving the growth of anti-snoring devices and snoring surgery market. The increasing R&D expenditure in healthcare research for development of innovative products to obtain improved outcomes and the adoption of these new technologies among the healthcare professionals and public boost up the anti-snoring and snoring surgery market growth. Increasing number of diagnosed sleep apnea cases and the application of advanced 3D printing technology for snoring control have exhibited growth to the anti-snoring device and snoring surgery market. The developing healthcare infrastructure and growing awareness fuel the growth of the anti-snoring and snoring surgery market in Asia-Pacific region and it is expected to face significant growth in forecast period.
Market Competition Assessment
The anti-snoring and snoring surgery market presently contains various companies having their products marketed. The manufacturers are developing new innovative products and the market is growing as a result of increasing adoption and accessibilities of these products. The companies include Medtronic plc, AccuMED Corp., GE Healthcare., Koninklijke Philips N.V., Fisher & Paykel Healthcare, Apnea Sciences Corporation, ImThera Medical, Inc., ResMed, Inc., SomnoMed, MPowrx™ Health and Wellness, Sleeping Well, LLC., The Pure Sleep Company, ONIRIS SAS, ZYPPAH and others.
Key Market Movements
- The rising obese population, growing number of geriatric people, increasing trend of smoking and alcohol consumption, rising public awareness, increasing number of medical intervention, recent advancements in technology boost up the growth of anti-snoring and snoring surgery market.
- The lack of awareness among people of developing areas and cost of medical treatment may pose some challenges to the growth of anti-snoring and snoring surgery market.