Published: Jul, 2018
The competitive landscape of the global anti-snoring devices and snoring surgery market is fragmenting, observes Transparency Market Research in a recent report. As large and small players in the market are trying to generate revenues and gain control over the market by innovating new technologies, focus on the development of devices that enable minimally invasive procedures like implantable neurostimulation can work wonders for companies looking to expand their share in the market. In 2015, Medtronic plc led the market and was trailed by GE Healthcare. Philips was also one of the leading companies in the market during the same year. Collectively, these three companies held over 90% of the market in 2015. Some of the other leading companies in the market are Fisher & Paykel Healthcare, AccuMED Corp., ImThera Medical, Inc., SomnoMed, Apnea Sciences Corporation and ResMed, Inc.
According to the report, the global market for anti-snoring devices and snoring surgery will rise to a valuation of US$22.7 bn by 2024. Over the forecast period, the market for anti-snoring devices is expected to exhibit a CAGR of 3.91% and the market for anti-snoring surgery is expected to register a 3.3% CAGR.
Review of Global Anti-snoring Devices and Snoring Surgery Market Revenue by segmentation
Asia Pacific has an enormous demand for anti-snoring devices and snoring surgeries. This will trigger the rise of companies in the region subsequently. Unconventional advertising and marketing campaigns in this region have brought anti-snoring devices and surgery to a new level. According to the report, the market in Asia pacific is expected to develop at a CAGR of 5.09% during the forecast period.
Of the key causative factors of snoring, obstructive sleep apnea is presently considered to be the key factor pushing patients to pursue snoring surgeries or use anti-snoring devices. This causative factor is likely to remain key to the overall development of the market over the report’s forecast period as well.
Rise in Obesity and Sleep Disorder Giving Rise to Demand for Useful Innovations
According to a study, the number of people diagnosed with wakefulness or sleeping disorder in the U.S. alone is approximately 50 to 70 mn. As technologies are developing and growing in the market, the diagnosis of these conditions has been effective and treatments are proving to be more helpful to patients. The rising awareness among patients regarding the effectiveness of anti-snoring devices and snoring surgeries and the easy availability of advanced detecting procedures across the globe are resulting in increased demand for anti-snoring devices and snoring surgeries. These are some of the factors that can help market players gain promising growth opportunities and reinforce innovations that could help in growing their market shares.
One of the key factors limiting the growth of the market is the fact that many patients find it uncomfortable to use anti-snoring devices and since sleep apnea is associated with cardiovascular diseases (CVD), it can necessitate the patients to be subjected to expensive medical expenses. This factor could limit the expansion of the market to a certain degree,
The information in this review is based on the findings of a report by Transparency Market Research, titled “Anti-Snoring Devices and Snoring Surgery Market (Device Type - Mandibular Advancement Devices (MAD), Tongue Stabilizing Device (TSD), Continuous Positive Airway Pressure (CPAP) Devices, Others (Nasal Strip, Chain Straps, Rings); 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) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.”
The global anti-snoring devices and snoring surgery market has been segmented as presented below:
- 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
- Latin America
- Middle East & Africa
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.