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.
What the Market Looks Like?
Predicted to grow at a CAGR of 8.9% during the forecast period, the global Orthodontic Supplies Market is estimated to reach USD 6.63 Billion by the end of 2024. In 2018, North America held the largest market share, followed by Europe and Asia-Pacific.
The fixed braces products segment is expected to command the largest share of the global market in 2018. Factors such as affordability (compared to removable braces), increasing adoption of fixed braces among adolescents as well as adults, effective outcomes, and the huge demand for these braces in emerging countries such as India, China, and Brazil are propelling growth in this segment.
By patient, the market is segmented into children and teenagers and adults. The children and teenager’s patient segment are expected to account for the largest share of the Orthodontic Supplies Market in 2018. The large market share of this segment can be attributed to the high prevalence of malocclusions and jaw disorders coupled with the increased adoption of fixed braces among adolescent children and teenagers.
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What Drives the Market?
The growth of the global market for Orthodontic Supplies is primarily influenced by the following factors:
- 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
- Ongoing Research and Technological Advancements in Orthodontic Products
Product launches and enhancements are the key growth strategies adopted by major players to strengthen their position in the global market. In addition, strategies such as partnerships and collaborations; mergers and acquisitions; and expansions were also adopted by several market players to remain competitive in the market.
Geographical growth scenario of Orthodontic Supplies Market:
Geographically, the market is segmented into 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 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
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Leading market players and strategies adopted:
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.