The Anti-Snoring Market Will Reach $8.2 billion by 2027
written by/ April 27, 2021
The latest economic estimates show a bright future for the anti-snoring treatment market in the years to come. Global predictions show that the total market valuation will go over $8.2 billion by 2027.
Experts agree that the growth will be rapid. GlobeNewswire predicts a compound annual growth rate (CAGR) of a solid 9.2%.
The coronavirus pandemic brought additional market growth factors like:
- COVID-19-induced sleeplessness
Insomnia and sleep apnea are the two major long-term effects of the COVID-19 infection. Given the magnitude of the pandemic, the demand for good quality anti-snoring devices is expected to rise.
- Increased awareness of the sleep-immunity link
As one 2020 study shows, those suffering from Obstructive Sleep Apnea (OSA) have higher COVID-19-related mortality. In addition, sleep quality may affect the efficacy of the COVID-19 vaccine.
- Ravaging obesity statistics
Obesity and being overweight is directly linked to an increased risk of snoring. Likewise, the sedentary lifestyle also does wonders for obesity statistics.
- The emergence of Coronasomnia
Social, economic, health, and other effects of the pandemic caused stress-related sleep disturbances in almost half of the world population, also known as Coronasomnia, and stress-related snoring is part of Coronasomnia.
- Increase in the geriatric population
Estimates show that the number of people over the age of 65 will double by 2050, leading to increased demand for anti-snoring treatment.
- Rapid market sophistication
The advancement of anti-snoring device design is expected to increase their popularity — for example, the first-ever daily treatment for snoring was in the form of an intraoral device.
For the 2020–2026 period, according to Mordor Intelligence, Asia Pacific will be the fastest-growing region for this market. However, the largest market will remain in the North American region.