Anti-Snoring Devices Market Anticipates $511.4 Million Valuation by 2032, Riding 8.1% CAGR – Allied Market Research
“Anti-snoring Devices Market, By Product (Mouthguard, Nasal Devices, EPAP Device, and Others), By End User (Homecare and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, the global anti-snoring devices industry was estimated at $233.9 million in 2022 and is anticipated to register $511.4 million by 2032, registering a CAGR of 8.1% from 2023 to 2033.
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Anti-Snoring Devices-
The global anti-snoring devices market is experiencing growth due to factors such as the rise in prevalence of snoring and an increase in awareness about the risks associated with snoring. Rise in prevalence of snoring, increase in number of geriatric populations, and rise in awareness among individuals about the health risks associated with snoring fuel the growth of the Anti-Snoring Devices Market
Prime Determinants of Growth: –
The global anti-snoring devices market is experiencing growth due to factors such as the rise in prevalence of snoring and an increase in awareness about the risks associated with snoring. However, the inconvenience and discomfort of anti-snoring devices and the availability of alternative treatment options are hampering the market’s growth.
COVID-19 Scenario: –
- Due to the COVID-19 pandemic and the subsequent global lockdowns, the anti-snoring devices market was moderately driven by an increase in the sale of anti-snoring devices through e-commerce platforms.
- Furthermore, the demand for anti-snoring devices is increasing post-pandemic due to the rise in the prevalence of snoring and the easy availability of anti-snoring devices. This, in turn, presented various growth opportunities for companies operating in the anti-snoring devices market.
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The homecare segment to maintain its lead position during the forecast period-
Based on end user, the pharmaceutical packaging segment accounted for the largest share in 2022, contributing to more than three-fifths of the global anti-snoring devices market revenue, and is expected to maintain its lead position during the forecast period. The same segment would display the fastest CAGR of 8.4% from 2023 to 2032.
North America to maintain its dominance by 2032-
Based on region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global anti-snoring devices market revenue, and is projected to maintain its dominance by 2032.This is due to the rise in adoption of advanced anti-snoring devices, the increase in prevalence of snoring, and the strong presence of market key players.
However, limited effectiveness of anti-snoring devices and discomfort with some anti-snoring devices limit their adoption and hinder the market growth. For instance, some anti-snoring devices, such as oral appliances or chin straps, require time for adjustment and are not comfortable for all users. In addition, the availability of alternative treatment options for snoring, such as surgery or continuous positive airway pressure (CPAP) machines negatively impact the market growth.
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Key Findings of The Study
- By product, the mouthguard segment dominated the market in 2022.
- On the basis of end user, the homecare segment dominated the market in 2022.
- Region wise, the North America segment dominated the market in 2022. However, Asia-Pacific is the fastest growing segment during the forecast period with a CAGR of 9.2%.
Competition Aanlysis
Competitive analysis and profiles of the major players in the anti-snoring devices market include SomnoMed, ResMed Inc., Koninklijke Philips N.V., VVFLY Snore Circle, ZQuiet, The Pure Sleep Company, Apnea Sciences, Airway Management, Inc., Rhinomed, and DentCare Dental Lab Pvt. Ltd. There are some important anti-snoring devices industry in the market such as Theravent, GlaxoSmithKline plc, and PureSleep. Major players have adopted product launch as a key developmental strategy to improve their product portfolio and gain a strong foothold in the anti-snoring devices market.
Key Market Players-
Koninklijke Philips N.V., DentCare Dental Lab Pvt. Ltd, SomnoMed, Rhinomed, Apnea Sciences, ZQuiet, Pure Sleep, LLC, Airway Management, Inc, ResMed Inc., VVFLY Snore Circle
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