Anti-Snoring Devices and Surgery Market: Snapshot
The global anti-snoring devices and surgery market is ripe for disruption. There are numerous factors pointing toward this imminent change. The spiraling number of people suffering from snoring, for one, is indicative of a larger need for user-friendly, budget-friendly, and efficacious anti-snoring devices. Although anti-snoring devices are the prime revenue generator in the global anti-snoring devices and surgery market, it is also expected that more people worldwide will undergo surgery to address the disorder.
Remunerative opportunities can be harnessed by developing devices with a compact form factor. Lighter and connectivity-enabled devices are the future of the market. From the standpoint of surgical procedures, TMR expects minimally invasive procedures involving implantable neurostimulation devices to score well.
Anti-snoring Devices Find a Footing in Asia Pacific
By geography, the market has been segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America and Europe collectively dominated the global anti-snoring devices and snoring surgery market in 2015.
However, several profitable opportunities are waiting to be explored in Asia Pacific. The region is characterized by a massive patient pool but also has substantial unmet needs. These dynamics will lead to new companies springing up in emerging countries in Asia Pacific. Innovative marketing and advertising campaigns in the region have taken awareness about anti-snoring devices and surgery to a new high. In the light of these reasons, TMR expects the market for anti-snoring devices and surgery in Asia Pacific to expand at the highest CAGR of 5.09% through the forecast period.
The Opportunity in Numbers
Transparency Market Research says that the global anti-snoring devices and snoring surgery market, by device type and surgical procedure, stood at US$16.07 bn and US$357.15 mn, respectively, in 2015. The anti-snoring devices and snoring surgery market, by device type and surgical procedure, is projected to expand at a CAGR of 3.91% and 3.3%, respectively, from 2016 to 2024.
The demand for anti-snoring surgery and devices will, clearly, be proportional to the increase in snoring cases diagnosed worldwide. The number of snoring cases diagnosed across the world are charting an upward graph, particularly in developed economies.
Among the causative factors of snoring are: Obesity, sleep apnea, allergies rhinitis, and sleep deprivation. Of these, obstructive sleep apnea is among the most common causes of snoring. The European Sleep Apnea Database (ESADA), for instance, shows the number of enrollments as 15,956 in March 2014. Sleep deprivation is yet another factor stoking the demand for anti-snoring products and surgical procedures. In the United States alone, approximately 50 to 70 million adults reportedly have a sleep or wakefulness disorder.
The report finds that an increase in obesity and overweight will subsequently lead to an increased consumer interest in anti-snoring devices and surgical procedures.
However, low patient compliance levels (mainly owing to discomfort in using anti-snoring devices) stand as an impediment to growth for players in the anti-snoring devices and surgery market. Moreover, the economic impact of sleep apnea can be particularly high as it is associated with CVD, leading patients to incur high medical expenses.
Bird’s Eye View of Competitive Arena
Fragmentation is the defining characteristic of the competitive landscape of the global anti-snoring devices and snoring surgery market. The market is teeming with numerous small and large players, each trying to rake in a larger portion of the revenue by launching innovative devices. In 2015, Medtronic plc led the market and was trailed closely by GE Healthcare. Philips followed the top two players in the same year. The three leaders held the lion’s share of over 90% of the market by revenue.
Other leading players in the market are: AccuMED Corp., Fisher & Paykel Healthcare, Apnea Sciences Corporation, ImThera Medical, Inc., ResMed, Inc., and SomnoMed.
The report analyzes the global market for anti-snoring devices and snoring surgery based on three major segments: device type, surgical procedure, and geography. Based on device type, the market has been categorized into four major diagnostic devices: mandibular advancement devices (MAD), tongue stabilizing device (TSD), continuous positive airway pressure (CPAP) devices, and others (nasal strip, chain straps, rings). Based on surgical procedure, the market has been segmented into uvulopalatopharyngoplasty (UPPP) surgery, tonsillectomy and adenoidectomy surgery, maxillo-mandibular and genioglossus advancement surgeries, pillar procedure with palatal implants surgery, radiofrequency ablation (RFA) surgery, and others (laser-assisted uvulopalatoplasty, tracheostomy).
Based on geography, the market has been categorized into four major geographic regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Market sizes, forecasts, and % CAGRs have been provided for the segments mentioned above. A detailed qualitative analysis of the factors responsible for driving and restraining the anti-snoring devices and snoring surgery market and future opportunities has been included in the market overview section of the report.
The research involves detailed analysis for each of the segments and sub-categories for market trends, recent developments, outlook, and opportunities. The market overview section of the report explores market dynamics such as drivers, restraints, and opportunities that currently have strong impact on the global anti-snoring devices and snoring surgery market and could influence the market in future as well. Market share analysis has been provided in the report in order to explain the intensity of competition between leading market players operating across the globe. Several other analytical perspectives such as Porter’s Five Forces Analysis and value chain analysis have been described in order to provide a thorough analysis of the market. Competitive landscape section in the report mentions about leading players for each of the product segment and surgical procedure that dominates the market or expected to emerge in forthcoming years.
Rapid pace of technological developments in this market has ensured introduction of efficient diagnosis and treatment methodologies that has rendered enhanced patient outcomes. The global anti-snoring devices and snoring surgery market is witnessing impressive growth due to high demand for innovative diagnostic method and patient awareness. These factors would help market players to take strategic decisions in order to strengthen their position and expand their respective market shares.
The recommendations section included in the report would assist existing market players in targeting all major stakeholders of this industry such as companies, hospitals, home care providers, and government agencies in addition to those seeking an entry into the market. The report also profiles major players in the global anti-snoring devices and snoring surgery market based on various attributes such as company details, business overview, financial details, business strategies, and recent developments. However, the market is likely to face challenges due to lack of patient compliance and economic impact of snoring. Nevertheless, the report also highlights various opportunities that are expected to boost market growth during the forecast period.
Key players profiled in the anti-snoring devices and snoring surgery market study include AccuMED Corp., Apnea Sciences Corporation, Fisher & Paykel Healthcare, GE Healthcare, ImThera Medical, Inc., Medtronic plc, Philips Healthcare, ResMed, Inc., SomnoMed, Tomed Dr. Toussaint GmbH, and Whole You, Inc.
The anti-snoring devices and snoring surgery market has been segmented as follows:
- Global Anti-snoring Devices and Snoring Surgery Market, by Device Type
- Mandibular Advancement Devices (MAD)
- Tongue Stabilizing Device (TSD)
- Continuous Positive Airway Pressure (CPAP) Devices
- Others (nasal strip, chain straps, rings)
- Global Anti-snoring Devices and Snoring Surgery Market, by Surgical Procedure
- Uvulopalatopharyngoplasty (UPPP) Surgery
- Tonsillectomy and Adenoidectomy Surgery
- Maxillo-mandibular and Genioglossus Advancement Surgeries
- Radiofrequency Ablation (RFA) Surgery
- Pillar Procedure with Palatal Implants Surgery
- Others (laser-assisted uvulopalatoplasty, tracheostomy)
- Global Anti-snoring Devices and Snoring Surgery Market, by Geography
- North America
- Asia Pacific
- South Korea
- Hong Kong
- Latin America
- Middle East & Africa
- South Africa
- North America