Anti-snoring Treatment Market worth $18bn by 2025
Anti-snoring treatment market share is anticipated to be driven by growing incidence of obesity which leads to snoring and rising awareness about the health implications of snoring. Medical equipment companies are developing non-surgical anti-snoring devices which are capable of treating snoring issues in patients. Indolent and alcoholic lifestyle of people around the globe has been driving the occurrence of snoring, which will fuel the industry trends over the forecast period.
One of the most important risk factors causing snoring among the elderly population is obesity. Consumption of unhealthy diet and alcohol, changing lifestyle habits, insufficient physical exercise, and smoking has augmented obese population globally. Overall, about 13% of the world’s adult population were obese in 2016. In the same year, over 1.9 billion adults aged above 17 years were noted to be overweight, out of which more than 650 million were obese. The incidences of obesity globally compounded by three times between 1975 and 2016.
Factors such as increased consumption of energy-dense foods which are high in fat and decline in physical activity due to the sedentary nature of many forms of work and increasing urbanization has led to such trends observed in obesity which in turn has augmented anti-snoring treatment market size as obesity is closely related to snoring.
Obesity in United States has been noted to be a serious health issues. In 2015-2016, obesity incidence among children and adolescents was recorded at 18.5% and affected about 13.7 million. The prevalence of obesity among adults in the same timeframe was 39.8% and affected about 93.3 million.
The lifestyles of the people in the U.S. has given rise to obesity which is one of the key causes of snoring. Rapid growth in snoring problems can be accredited to augmenting obesity among the aged population and rising adoption of a sedentary lifestyle. Approximately 90 million adults endure snoring problem in the U.S. and need anti-snoring therapy. Growing demand of anti-snoring treatments and technological advancements of medical devices in the nation is likely to add growth impetus to anti-snoring treatment industry outlook. U.S. anti-snoring treatment market size surpassed $5.6 billion in the year 2018 and is expected to grow at dynamic pace over 2019-2025.
Besides the U.S., India has the second highest number of obese children in the world, with 14.4 million reported cases. The proportion of overweight or obese women (15-49) increased from 13 to 21 percent, and from 9 to 19 percent for men. In addition, there has been an increase in the mean BMI from 20.5 in 2005-06 to 21.9 in 2015-16 raising snoring concerns in the country. A huge number of untreated people with a snoring disorder will offer lucrative scope for anti-snoring industry growth in the country. Indian anti-snoring treatment market is projected to grow at 4.0 percent CAGR over 2019-2025.
One of the reasons leading to increased rate of obesity and snoring is alcohol consumption. In the U.S., one in six adults binge on drinks around four times a month, consuming about seven drinks per binge. Over 90 percent of adult drinkers report binge drinking in the past 30 days. Surge in prevalence of alcohol consumption has significantly given rise to obesity and simultaneously to snoring which will supplement anti-snoring treatment market.
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Technological advancements in anti-snoring treatments have been on the rise and medical devices firms are coming up with various new therapies which will enhance their revenue share. For instance, Apnea Sciences Corporation recently launched SnoreRx, a non-surgical anti-snoring device. FDA has sanctioned SnoreRx to be denoted as the first and only oral appliance for treatment of snoring sans prescription. Upsurge in innovations and adoption of advanced anti-snoring devices will encourage increased production and contribute to anti-snoring treatment market growth.
According to report by ResMed, in 2018, 936 million people worldwide had sleep apnea. Recently, ResMed announced that it has acquired HB Healthcare (HBH) to help millions of South Koreans with sleep apnea, chronic obstructive pulmonary disorder (COPD) and other respiratory conditions. One in five Korean adults is believed to have sleep apnea and the company’s effort to offer therapy to the people there will substantially help increase anti-snoring treatment industry share.
Several anti-snoring treatment industry majors are adopting various strategic alliances such as mergers and acquisitions, partnerships and strategic collaborations with other contributors to considerably increase revenue shares and expand anti-snoring treatment market size. Global Market Insights estimates anti-snoring treatment market size to exceed $18 billion by 2025.