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$7 bn by 2024| Orthodontic Supplies Market and its growth prospects

Author : Rahul Sankrityayan | Published Date : 2019-03-22 

Global Orthodontic Supplies Market is set to exceed USD 7 billion by 2024; according to a new research study published by Global Market Insights, Inc. Increasing incidence of malocclusion in children and adults will drive industry growth during the forecast period. Currently around 60% to 75% of the total global population is suffering from malocclusion or misaligned teeth. Rise in need for orthodontic treatment for malocclusions and other different orthodontic disorders will garner opportunities for the industry growth.

Technological advancements in removable braces such as improvements in design has enhanced outcomes fostering greater product adoption. The rise in awareness among the people about their physical appearance in Europe region has escalated the demand for use of technologically advanced invisible removable braces. However, unfavorable reimbursement policies and insurance coverage for orthodontic treatments in majority of the growing markets such as Asia Pacific and Latin America region will impede the orthodontic supplies market growth.
 
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Children & teenagers can be aptly addressed as one of the strong end-users of orthodontic supplies industry, the section having procured a lion’s share of almost USD 3.2 billion in yesteryear. Reportedly, the prime factor fueling the growth of orthodontic supplies market in this sector is the massive surge in the number of teeth misalignment cases among teenagers and children at a global scale. In fact as per a recent survey, nearly 75% children and teens face some kind of orthodontic problems when their adult teeth are grown. According to the American Association of Orthodontics, out of the 4.5 million Americans who use teeth braces, most of them are children and teenagers. Around 80% of the undergoing treatments in the country vary in the range of 6 to 18 years of age.

Not to mention, the data bears a testimony to the significantly increasing demand for orthodontic supplies market across U.S.  As per a reliable market assessment report, the regional market was worth USD 1.5 billion in 2017 and is slated to maintain its dominance in the global landscape over the ensuing years as well. Not just children and teens, the popularity of orthodontic treatments is also growing among U.S. adults, subject to the burgeoning desire to improve their jaw line.  As per a new study conducted by American Association of Orthodontists- over one-third of American adults are unhappy with their smile. This in effect, is set to create a massive demand for advanced orthodontic treatments in the country, leaving a perpetual impact on U.S. orthodontic supplies industry share.

Speaking of the growth prospect of the orthodontic supplies market, it is imperative to mention that like any other healthcare and medical device domain, orthodontic supplies industry is also regulatory driven. In fact, the regulatory backing has been a critical parameter to trace the dentistry industry trends in terms of revenue opportunities. The Affordable Care Act (ACA) mandates the insurers to offer proper dental care for children, provide funding for dental training and education, and set up efficient dental pilot programs etc. The initiatives are intended at widening the reach of dental practices across areas of critical need.

U.S. orthodontic supplies market is expected to witness 8.8% growth due to increasing number of teenagers and adults opting for orthodontic treatment, growing adoption of invisible and removable braces, favorable reimbursement policies and extensive insurance coverage. Brazil market was valued at USD 109.1 million in 2017 owing to rising healthcare expenditure and growing awareness regarding oral healthcare. Presence of developing healthcare system providing necessary treatments for all aspects of orthodontic treatment will further augment demand.   
 
Prominent players in orthodontic supplies market  include 3M, Align Technology, Straumann group, DENTSPLY Sirona, American Orthodontics, Patterson Companies, Henry Schein, G&H Orthodontics and DENTAURUM. The industry participants use strategies such as enhancing their manufacturing footprint, acquisition, new product launches and geographical expansion for improving their market position. In August 2017, Straumann Group acquired ClearCorrect, LLC, a leading clear aligners manufacturer.

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Market by Product

Fixed Braces
Brackets
Archwires
Ligatures
Anchorage appliances
Removable Braces
Orthodontic Braces

Market by End User

Children & Teenagers
Adults

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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