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The Anti-Snoring Devices Market is witnessing growth due to increased awareness about sleep apnea
The anti-snoring devices market comprises of numerous products used to reduce or stop snoring caused due to vibration of airways and tissues in the throat and mouth during sleeping. Anti-snoring devices like nasal dilators, chin straps, clipped nose pieces, tongue-stabilizing devices and airway dilators help in keeping airways open and prevent vibration. Snoring is a common issue and can cause sleep disruption, daytime sleepiness and health issues like cardiovascular diseases. Anti-snoring devices offer a cost-effective non-surgical alternative to managing snoring issues. Increasing awareness about conditions like obstructive sleep apnea that can result from heavy snoring has boosted demand for anti-snoring solutions.
The anti-snoring devices market is estimated to be valued at USD 1.6 Bn in 2024 and is expected to reach USD 2.58 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.
Key Takeaways
Key players operating in the anti-snoring devices are ResMed, Koninklijke Philips N.V., Airway Management, Apnea Sciences Corporation, Sleeping Well LLC, The Pure Sleep Company, Zen Sleep. Major players are focussing on developing innovative, effective and comfortable anti-snoring devices to strengthen market presence.
The growing global prevalence of lifestyle diseases like hypertension and obesity that increase risk of snoring and sleep apnea has boosted demand for anti-snoring devices. The need to manage snoring issues and lack of serious health risks associated with anti-snoring devices compared to surgery has increased adoption.
Anti-Snoring Devices Market manufacturers are expanding to emerging markets in Asia Pacific and Latin America seeing higher growth potential. Growing medical tourism and availability of cost-effective anti-snoring options in developing nations is supporting market expansion.
Market key trends
One of the key trends witnessed in the anti-snoring devices market is advancements in product design and technology. Players are developing sophisticated digital snoring monitoring devices that detect vibration patterns and adjust pressures accordingly to reduce or eliminate snoring. Companies are also introducing more discrete and comfortable designs to improve user experience and compliance for therapies. Integration of artificial intelligence for monitoring and customized adjustment of therapies according to sleep patterns is another developing trend.
Porter's Analysis
Threat of new entrants: Low capital requirement and easy availability of raw materials pose a moderate threat of new companies entering this market. However, established brands have strong brand loyalty and economies of scale which act as a barrier.
Bargaining power of buyers: Individual consumers have high bargaining power due to availability of alternative products and options. However, for insurance providers and hospitals purchasing in large volumes, bargaining power is moderate.
Bargaining power of suppliers: A few key suppliers dominate the supply of raw materials and components in this market. This gives them significant influence on pricing.
Threat of new substitutes: Products like Breathing strips, nasal dilation vests etc. provide alternatives to traditional devices. Technology advances can increase substitute threats.
Competitive rivalry: The market has presence of both global and local players. Intense competition keeps pricing low and forces companies to invest in innovation to gain differentiation.
Geographical regions
North America currently holds the largest share of the anti-snoring devices market, primarily due to growing awareness and easy availability of devices. Europe is the second largest market led by countries like Germany, UK and France.
Asia Pacific is poised to be the fastest growing regional market for anti-snoring devices over the forecast period. This is attributed to increasing population suffering from snoring, growing healthcare expenditure and rising medical tourism in countries like India and China. Expanding distribution networks of global players will further aid market growth in Asia Pacific.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
