Orthodontic Supplies Market Expected to Behold a CAGR of 8.0% During 2016 – 2021

The global orthodontic supplies market is estimated to grow at a CAGR of 8.0% from 2016 to 2021 to reach USD 4.71 billion by 2021. Although the developed regions (such as North America and Europe) are expected to command the largest share in the orthodontic supplies market in 2016, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. Factors such as high prevalence of malocclusion and jaw disorders; growing efforts to increase awareness of advanced orthodontic treatments; growing focus of global orthodontic/dental companies on emerging APAC countries; and increasing disposable income coupled with growing middle class population in this region are propelling the growth of the orthodontic supplies market.

 

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Growth in the global orthodontic supplies market is driven by factors such growing number of patients with malocclusion, jaw diseases, tooth decay/tooth loss, and jaw pain; increasing disposable income and expanding middle-class population in developing countries; increasing awareness among consumers about advanced orthodontic treatments; and technological advancements in orthodontic products. In addition, emerging markets such as India, China, Japan, and South Korea are offering new growth opportunities for player operating in this market.

 

Geographically, North America is estimated to command the largest share of the global orthodontic supplies market in 2016, followed by Europe. The large market share of the North American region can be attributed to the growing number of orthodontic treatment procedures among the regional population, rising per capita disposable income, growing focus on personal appearance, and advanced orthodontic products and treatments availability in the region. However, inadequate public dental insurance policies for orthodontist treatment and high cost of cosmetic dental treatments are restraining the growth of the orthodontic supplies market in this region.

 

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The orthodontic supplies market is competitive, with a large number of global and local providers of orthodontic products. 3M Company (U.S.) Align Technology, Inc. (U.S.), and Danaher Corporation (U.S.), were the top three players in the orthodontic supplies market in 2015. These companies together accounted for ~66% of the global market. New product launches and product enhancements; mergers and acquisitions; geographic expansions; and partnerships and agreements are the major strategies adopted by most of the market players to achieve growth in the orthodontic supplies market.

 

Related Report:

 

Latin America Orthodontic Supplies Market by Removable & Fixed Braces (Brackets (Self Ligating Lingual) Archwire (Nickel Titanium Stainless Steel) Anchorage Appliances (Buccal Tube Band) Ligature (Elastomeric Wire)) & Adhesives - Forecast to 2020

The Latin American orthodontic supplies market is poised to reach USD 320.2 million by 2020 at a CAGR of 5.5% during the forecast period. Although mature markets (such as the Brazil and Mexico) hold larger shares in the orthodontic supplies market, Chile is expected to witness the highest growth during the forecast period. Factors such as the growing number of patients with malocclusions, decreasing trade barrier for medical devices in some Latin American countries, and rising disposable incomes in Brazil, Mexico, and Chile are propelling the growth of the Latin American orthodontic supplies market. On the other hand, the risks and complications during or post-orthodontic treatments and limited reimbursement coverage for orthodontic treatments are restraining the growth of this market.

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