In a recent published report, Kenneth Research has updated the market report for Anti-Snoring Devices And Snoring Surgery Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Anti-Snoring Devices And Snoring Surgery Market products.
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Kenneth Research has recently added a report titled Anti-Snoring Devices And Snoring Surgery Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2025. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Snoring is a sleeping disorder that occurs when there is a hindrance in the passage of air flow from throat and nasal tract due to thickening of carotid arteries walls, resulting in noise while sleeping. Snoring can have many negative impacts on an individual’s health such as stroke, atrial fibrillation and severe cardiovascular diseases; hence the market for anti-snoring devices and surgeries developed to treat snoring is witnessing a steep rise globally.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The rising awareness towards the hazardous health effects of snoring across developed nations has escalated the demand for anti-snoring treatments in the market. The increase in the number of alcohol and cigarette consuming population, who suffer from snoring problems at some point in their life, is also a major factor to foster the growth of this market.
According to the World Health Organization (WHO), per capita alcohol consumption in half of the member countries of WHO such as USA, U.K, Russia, Ukraine, Kenya, Georgia, etc is expected to witness a continuous rise up until 2025.
Significant increase in the percentage of obese population across developed nations has been predicted by Organization for Economic Co-operation And Development (OECD). It has been estimated that by the year 2030 the percentage of obese population in United States, Mexico and England will reach to 47%, 39% and 35% respectively.
Obese population being prone to catch sleeping disorders and snoring more rapidly are one of the major escalating factors for anti-snoring device and snoring surgery market globally. However, complications associated with snoring surgeries, high cost of surgery and anti-snoring devices and lack of awareness about the severity of the problems associated with snoring are some of the restricting factors for the growth of anti-snoring treatment market.
The anti-snoring device market is anticipated to grow more strongly than the snoring surgery market during forecast period because of the ease of use for patientsas well as the presence of products like SnoreRX, ZQuite, VitalSleep, etc that have been recognized as most promising devices to treat snoring.
Fastest Growing Device Market
Market for oral appliances is growing at a faster pace and is segmented into Tongue-stabilizing devices (TSDs) and Mandibular advancement devices (MAD). TSD can be preferred over any other anti-snoring device by patients suffering from dental issues, as it does not cause discomfort to jaw as well as do not cause tooth shifting.
One major benefit of mouthpieces especially TSDs are, they can be used just after removing from the box and does not require any extra-fittings. Nasal strips are also one of the popular anti-snoring devices as they are easy to use.
In surgery, Pillar procedure, Radiofrequency Palatoplasty and Uvulopalatopharyngoplastyare the most common and popular segments that promise an effective cure from snoring. The reason for popularity of these surgery types can be contributed to low cost, fewer complications, faster recovery and less pain caused during the surgery.
Regional Segment Analysis
On the basis of region, North America has been anticipated to hold the largest share in the anti-snoring device and snoring surgery market due to presence of a large number of market players as well as growing awareness towards ill-effects of sleep apnea and snoring.
American Sleep Foundation has evaluated that in the year 2017, around 28 % (90 million) of the total American population was suffering from different kind of respiratory disorders that leads to snoring and hence leaves the country with largest number of people suffering from snoring.
Recent Developments and New Market Players
Alongwith well-established companies like ZenSleep and Zelegent, Inc startup companies like assistENT (U.S.) who has launched products like N-stent at a price as low as $4, has established North America a leader in the global market for anti-snoring treatment solutions. Approval by Conformité Européene (CE) on Commercialization of Snoozeal (anti-snoring and sleep apnea device) was a major step to escalate the market growth of anti-snoring devices in Europe.
Rising health issues related to sleep and respiratory disorders in Asian countries like China and India holds a considerable scope for growth of anti-snoring device and surgery market in the upcoming years. According to Chinese Sleep Research Society, in 2016 around 300 million Chinese population was suffering from one or another type of sleep disorders. With the arrival of companies like VVFly that manufactured snoring aid called “Snore circle”, a positive market growth for this industry can be anticipated in China.
Major Market Players
Key players operating in this market are Airway Management Inc (U.S.), Sleeping Well, LLC (U.S.), Glaxosmithkline PLC (U.K), GE Healthcare (U.S.), (U.K.),Meditas Ltd (U.K.)The Pure Sleep Company (U.S.), Somnomed Limited (Australia), Apnea Sciences Corporation (U.S.), Theravent, Inc.(U.S.), ResMed, Inc (U.S.), and Sleep Well Enjoy Life, Ltd.
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