Global Anti-Snoring Devices Market Poised for Remarkable Growth, to Reach $3.11 Billion by 2032: Rising Aging Population and R&D Funding Underpin Market Evolution
Dublin, May 03, 2024 (GLOBE NEWSWIRE) -- The "Global Anti-Snoring Devices Market, Size, Share, Forecast 2024-2032, Industry Trends, Growth, Insight, Top Companies Analysis" report has been added to * ResearchAndMarkets.com's* offering.
The global market for anti-snoring devices is experiencing unprecedented growth and is expected to continue its upward trajectory from its 2023 valuation of US$ 1.55 Billion to US$ 3.11 Billion by the year 2032. Advancements in technology, coupled with an increasing awareness of sleep-related disorders, are key drivers propelling this market forward at an estimated CAGR of 8.04% between 2024 and 2032.
*Rising Aging Population and R&D Funding Underpin Market Evolution*
The aging global population is significantly contributing to the expansion of the anti-snoring devices market. With sleep disorders such as snoring and sleep apnea prevalent among the elderly, a WHO report indicating a rise in the 60-plus demographic underlines the growing demand for effective solutions. Concurrently, substantial investments in research and development by entities such as the National Institute of Health are fostering innovation, leading to the introduction of ground-breaking products aimed at mitigating sleep-related diseases.
*U.S. Market Takes Lead with Innovation and Access*
The United States dominates the anti-snoring devices market, propelled by the prevalence of sleep disorders, obesity, and robust product availability. With the CDC highlighting a notable percentage of Americans suffering from short sleep duration, the focus on disruptive sleep apnea treatments is intensifying, making CPAP devices a segment of significant demand and growth.
*Diversification of Product Portfolio and Launches*
The anti-snoring devices sector is benefiting from the introduction of a variety of innovative products: 1. ProSomnus EVO Sleep and Snore Device's FDA approval bolstering user-friendly sleep solutions. 2. Global expansion of home sleep apnea testing products by Acurable. 3. The practical and comfortable oral device by Illusion Aligners paving the way for enhanced sleep experiences. The market is characterized by a diverse product range tailored to address different causes of snoring, from oral appliances and nasal devices to tongue-stabilizing devices, chin straps, position control devices, and EPAP therapy devices.
*Leading Companies Making Significant Strides*
Key players such as Koninklijke Philips N.V., ResMed, Inc., and SomnoMed Limited are at the forefront of the market, consistently innovating and expanding their global presence. Their commitment to developing next-generation devices positions them strategically to capitalize on market opportunities. Moreover, these leading entities are focusing on broadening their distribution channels, tapping into both traditional retail pharmacies and online stores to ensure their pioneering solutions reach a wide audience across multiple regions.
With detailed analyses of market dynamics, distribution channels, and geographic penetration, coupled with revenue insights for leading companies, the anti-snoring devices market represents a significant and dynamic segment within the global health sector.
The holistic approach to tackling snoring encompasses both in-home care solutions and professional services, underscoring the versatility and adaptability of this burgeoning industry. As the world witnesses a collective shift towards prioritizing sleep health, the anti-snoring devices market is set to become an even more prominent health aid, reflecting the world's increasing commitment to addressing sleep-related health challenges.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 180
Forecast Period 2023 - 2032
Estimated Market Value (USD) in 2023 $1.55 Billion
Forecasted Market Value (USD) by 2032 $3.11 Billion
Compound Annual Growth Rate 8.0%
Regions Covered Global
*Companies Featured*
· Koninklijke Philips N.V.
· ResMed, Inc.
· SomnoMed Limited
· GSK Plc
· Apnea Sciences Corporation
· ZQuiet (Sleeping Well, LLC)
· Airway Management, Inc.
· Fisher & Paykel Healthcare Limited.
· Tomed GmbH
For more information about this report visit https://www.researchandmarkets.com/r/ppofn0
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*Attachment*
· Global Anti-Snoring Devices Market
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