Asia Pacific to be the Fastest Growing Market for Anti-snoring Devices and Surgery, Expanding at a CAGR of 5.09% until 2024; Says TMR

Transparency Market Research has published a new report titled, “Anti-snoring Devices and Snoring Surgery Market: [Device Type – Mandibular Advancement Devices, Tongue Stabilizing Device, Continuous Positive Airway Pressure Devices, and Others; and Surgical Procedure – Uvulopalatopharyngoplasty Surgery, Tonsillectomy and Adenoidectomy Surgery, Radiofrequency Ablation Surgery, Pillar Procedure With Palatal Implants Surgery, and Others; Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global anti-snoring devices and snoring surgery market, by device type, was valued at US$ 16.1 Bn in 2015 and is estimated to expand at a CAGR of 3.91% from 2016 to 2024 to reach US$ 22.7 Bn by 2024.

Browse the full report at http://www.transparencymarketresearch.com/antisnoring-devices-and-snoring-surgery-market.html

Anti-snoring devices offer immense growth potential owing to rapid and timely technological upgrade, increased awareness among patients, and high demand for robust diagnostic and therapeutic devices. Geographically, the anti-snoring devices and snoring surgery market has been studied for five prominent regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further assessed based on major contributing countries such as North America (U.S. and Canada), Europe (U.K., France, Germany, Sweden, and Netherlands), Asia Pacific (India, China, Australia, Japan, Vietnam, South Korea, Singapore, and Hong Kong), Latin America (Brazil and Mexico), and Middle East & Africa (South Africa and UAE).

One of the key factors driving the market is increase in obese and geriatric population. Additionally, portability and improved diagnostics rate are likely to boost market growth in the region. On the other hand, high cost of diagnosis and discomfort levels of these devices are the other factors likely to hamper demand for anti-snoring devices and snoring surgery.

North America accounted for the largest share of the global anti-snoring devices and snoring surgery market in 2015, followed by Europe. The market in North America was valued at US$ 7,973.9 Mn in 2015. The market in Asia Pacific is likely to expand at the highest CAGR of 5.09% during the forecast period. The U.K, France, Germany, Sweden, and the Netherlands are the major markets for anti-snoring devices and snoring surgery in Europe owing to rapidly increasing population, and presence of well-equipped sleep testing laboratories.

Asia Pacific is witnessing increase in awareness programs, rise in obesity rates, and favorable reimbursement scenario. These factors are likely to accelerate growth and demand in this market. Presence of a large pool of patients makes Asia Pacific a lucrative market for anti-snoring devices and snoring surgery. According to a research paper titled ‘Increased Prevalence of Sleep-Disordered Breathing in Adults’ (2013), 6% women and 13% men aged between 30 years and 70 years have moderate to severe sleep apnea. These rates of occurrence of sleep apnea are low as compared to developed regions such as the U.S. and Europe. Hence, demand for anti-snoring devices and need for surgeries in this region are likely to be slow in the near future. However, increasing incidence of obesity, cardiac disorders, diabetes, and other disorders that increase the risk of snoring are expected to drive demand for anti- snoring devices in Asia Pacific.

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Latin America and Middle East & Africa hold immense growth potential in the near future. Large number of undiagnosed cases and low awareness levels are expected to hamper market growth in these regions. According to a research study published in the American Thoracic Society (ATS) Journal, prevalence of snoring disorder in Latin America was observed to vary from 2.9% in patients with no sleep related symptoms to 23.5% in patients that experienced symptoms such as snoring and excessive daytime sleepiness.

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
U.S.
Canada
Europe
U.K.
Germany
France
Sweden
Netherlands
Asia Pacific
India
China
Australia
Japan
Vietnam
South Korea
Singapore
Hong Kong
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
UAE

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.