The global Orthodontic Supplies Market is expected to reach USD 6.63 Billion by 2023, at a CAGR of 8.9%.
The Research report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Overall Market, along with revenue estimates & forecasts and Industry share analysis.
The growing number of patients with malocclusions, jaw diseases, tooth decay/tooth loss, and jaw pain; increasing disposable incomes and expanding middle-class population in developing countries; increasing awareness about advanced orthodontic treatments; and ongoing research and technological advancements in orthodontic products are the key factors driving the growth of this market.
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Orthodontic Supplies Market segmentation:
Based on products, the market is categorized into fixed braces, removable braces, adhesives, and accessories. The fixed braces segment is expected to account for the largest share of the global 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.
Based on patients, the orthodontic supplies market is segmented into children and teenagers and adults. The adult’s patient segment is estimated to witness the highest growthduring 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.
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.
The Major Players Operating in the Orthodontic Supplies Market:
The major players in the 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).
These companies adopted product launches and enhancements; mergers and acquisitions; partnerships and collaborations; and expansions as their key growth strategies in the past four years.
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Geographical Detailed Analysis for Orthodontic Supplies Market:
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 in 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.
While the market is expected to grow at a steady rate in the next five years, certain factors such as 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.