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Market Survey: Orthodontic Supplies Market is Anticipated to grow $7 bn by 2024

Author : Rahul Sankrityayan | Published Date : 2019-04-11 

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 number of people with malocclusion cases across the world will have crucial impact on boosting the orthodontic supplies market in the forthcoming years. Malocclusion or misaligned teeth affects around 60% to 75% of the global population. Malocclusion showed third highest prevalence in oral pathologies globally, just behind dental carries and periodontal diseases. This increasing prevalence of malocclusion cases across the world will increase the demand for orthodontic treatment thus, propelling the business growth.
 
Asia Pacific region is witnessing significant increase in number of population with untreated orthodontic problems. The prevalence of malocclusion cases in Asia Pacific region is more than 50% of the total population. The majority of the affected population in the region remains untreated due to several socio-economic factors such as cost of treatment and awareness regarding appearance. Increasing awareness among people with respect to malocclusion treatment will also be responsible for boosting the Orthodontic Supplies Market growth in upcoming years.
 
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Fixed braces held significant industry share with revenue of over USD 1.2 billion in 2017 owing to the increasing prevalence of malocclusion. The use of fixed braces for malocclusion treatment has become quite imminent and will therefore escalate the business growth in the near future. Adult business segment will witness over 9% CAGR over the forecast timeframe. There has been considerable increase in the number of adults undergoing orthodontic treatment such as malocclusions owing to increase in disposable income and rise in awareness regarding oral healthcare.

Orthodontic supplies market has gained a substantial traction over the recent years, by virtue of the incredible advancements in clinical research with regards to dental science. Though orthodontic practices have been around since many years, the commercialization matrix of the business space has ascended exponentially in recent times, in sync with the increasing precedence of malocclusion across the globe. According to estimates, presently around 60%-75% of the global population suffers from misaligned teeth or malocclusion. Statistics related to Asia Pacific is indeed daunting with more than 50% of the APAC population affected with malocclusion. These estimates vividly project the lucrative growth prospects of orthodontic supplies market, which pegged a valuation of USD 3.8 billion in 2017.

Boasting of a rich corporate portfolio, the orthodontic supplies industry is highly competitive. In the light of such scenario, technological advancements in product design stand as a vital quotient defining the profit parameters for the market contenders. In a recent turn of events across the MEA orthodontic supplies market, renowned 3D digital scanner manufacturer, Align Technology announced the launch of its innovative iTero Element intraoral scanner. 

This breakthrough scanner is claimed to offer regional orthodontists an absolute state-of-the-art digital solution, that can scan in just 1 minute with high accuracy, precision, and visualization capabilities. Inherently stimulated by a barrage of tech benefactors bringing groundbreaking innovations in tandem with commendable governmental backing, orthodontic supplies industry is certain to enroll its name among one of the most remunerative business spheres in the healthcare fraternity.

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.

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Prominent industry players 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.

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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