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(Medical-NewsWire.com, May 23, 2020 ) [170 Pages Report] The Global Orthodontic Supplies Market is expected to reach USD 6.63 billion by 2023 from USD 4.32 billion in 2018, growing at a CAGR of 8.9%
The orthodontic supplies market is mainly driven by factors such as the growing number of patients with malocclusions, jaw diseases, tooth decay/tooth loss, and jaw pain; increasing disposable incomes and the expanding middle-class population in developing countries; increasing awareness about advanced orthodontic treatments; and ongoing research and technological advancements in orthodontic products. The emerging markets in APAC and RoW are expected to present growth opportunities for players in the market.
On the other hand, unfavorable reimbursement policies and limited insurance coverage for orthodontic treatments, the risks and complications associated with orthodontic treatments, and the high cost of advanced orthodontic treatments in some nations are expected to limit market growth to a certain extent during the forecast period.
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By product, the fixed braces segment is expected to grow at the highest rate during the forecast period
On the basis of products, the market is categorized into fixed braces, removable braces/aligners, adhesives, and accessories. The fixed braces segment is expected to account for the largest share of the global orthodontic supplies market in 2018. Factors such as better affordability as compared to removable braces, effective outcomes, and the huge demand for these braces in emerging countries such as India, China, and Brazil are propelling growth in this segment.
By end user, the adults patient segment is expected to grow at the highest rate during the forecast period
On the basis of patients, the orthodontic supplies market is segmented into children and teenagers and adults. The adults patient segment is estimated to witness the highest growth during the forecast period. The growth in this segment is driven by the huge adult population base, growing concern of facial aesthetics, availability of advanced orthodontic products, such as aesthetic braces and invisible braces, and increasing disposable incomes in various parts of the world.
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North America dominated the market in 2017
Geographically, this market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2018, the global orthodontic supplies market is expected to be dominated by North America, followed by Europe. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period owing to the growing focus of orthodontic/dental companies on this region, growing dental tourism, increasing efforts to spread awareness about orthodontic treatment, and increasing incidence/prevalence of malocclusion and tooth decay in various APAC countries.
Key Market Players
The major players in the orthodontic supplies market profiled in this report are Align Technology, Inc. (US), 3M Company (US), and Danaher Corporation (US), Henry Schien, Inc. (US), American Orthodontics (US), DENTSPLY SIRONA, Inc. (US), Rocky Mountain Orthodontics (US), G&H Orthodontics (US), DENTAURUM GmbH & Co. (Germany), TP Orthodontics, Inc. (US), ClearCorrect (a subsidiary of Straumann Holding AG, Switzerland), Ultradent Products, Inc. (US) Great Lakes Orthodontics, Ltd. (US), DB Orthodontics (UK), and Dental Morelli Ltda. (Brazil).
Mr. Aashish Mehra