(PharmaNewsWire.Com, March 20, 2021 ) Major Growth Boosting Factors: The major factors driving the growth of the orthodontic supplies market include the growing number of patients with malocclusions, and jaw disorders; increasing disposable incomes and the expanding middle-class population in developing countries; increasing awareness about the availability of advanced orthodontic treatments; and ongoing research and technological advancements related to orthodontic products.
Revenue Growth Opportunities: 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%.
Market Dynamics in Detailed:
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.
Recent Developments in Industry:
# In 2018, 3M and 3Shape (US) entered into partnership to provide advanced orthodontic products integrated with 3Shape’s digital services and solutions
# In 2017, DENTSPLY SIRONA introduced its new product – the BioForce PLUS archwires.
# In 2017, Align Technology introduced clear aligner, Invisalign Teen with mandibular advancement, for Class II correction. The newly launched product helped the company to broaden its product offerings in the orthodontic supplies market
# In 2017, Align Technology acquired Align Technology Do Brasil LTDA (Brazil) to focus on direct commercialization and marketing of its products and to cater to the operational needs of doctors and potential patients in Brazil
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.
based 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.
Geographical Scenario: North America (the US and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of APAC), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East and Africa. North America is expected to account for the largest share of the global orthodontic supplies market in 2018. The dominant share of North America can be accounted to the growing acceptance of orthodontic treatment among children as well as adults, rising per capita disposable income, growing focus on appearance enhancement and aesthetics, and the presence of major orthodontic product manufacturers in North America.
Global Leaders: The major players operating in the orthodontic supplies market include Align Technology, Inc. (US), 3M Company (US), Danaher Corporation (US), Henry Schien, Inc. (US), DENTSPLY SIRONA, Inc. (US), American Orthodontics (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), among others.
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