Orthodontic Supplies Market will touch $7.7 million by 2025
Global orthodontic supplies market size is projected to surpass $7.7 billion through 2025, growing at a CAGR of 9.2% for the period spanning from 2019 to 2025. Global orthodontic supplies market has emerged as one of the most lucrative business verticals in recent years owing to the globally increasing prominence of malocclusions. The market is anticipated to observe substantial development trends in the coming years owing to a surge in the number of untreated malocclusion cases, especially in emerging economies.
In fact, as per the WHO (World Health Organization), malocclusion is the third-highest occurring pathology after cavities and periodontal diseases. About 70% of the total population is affected by malocclusions of which 10 million people. throughout the world, seek out a treatment for the ailment. Increasing level of awareness around the presence of advanced therapies for this disease would add up to the overall industry share in coming years.
Stated below are few of the ongoing developments in global orthodontic supplies market:
Growing traction of fixed and removable braces
With reference to the product segment, fixed braces accounted for approximately $1.3 billion in 2018. The segment is also projected to show heavy growth trends through the forthcoming timeframe owing to lower purchase cost, excellent control on misaligned teeth and very less incidences of breakage. These key product factors are responsible for proliferating the expansion of the segment in the overall orthodontic supplies market landscape.
Apart from fixed braces, the growing need for advanced invisible removable braces across the developed countries would further magnify the segment proliferation. Growing level of disposable income and mounting awareness among people about their physical appearance globally along with rising availability of dental aesthetics and increasing replacement of the same with traditional braces in likely to increase the need for functional orthodontic appliances in the future.
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Increasing product deployment in Europe
On the geographical front, growing inclination of people towards dental procedures owing to the availability of cost-effective and affordable oral therapies provided by public healthcare services is anticipated to propel the orthodontic supplies market outlook in Europe.
The region accounted for more than 30% of income share in 2018. In addition, several initiatives introduced by the European Orthodontic Associations to enhance the quality of the orthodontic services offered in clinics and some other public healthcare platforms is likely to proliferate the adoption of orthodontic therapies which would further expand the overall market size in the region.
Growing tooth misalignment in children and teenagers
Speaking of the patient segment, children and teenagers sector accounted for approximately 85% industry share in 2018 and is slated to show substantial growth over the study period. Increasing instances of teeth misalignment in children and teenagers should majorly expand revenue growth opportunities for the overall segment. Additionally, increasing awareness about aesthetic appeal among adolescents would also add up to the growth.
Mounting disposable income, growing malocclusion cases and increasing awareness regarding the availability of therapies, growing applications of braces for better physical appearance are projected to open up a varied array of opportunities for industry players operating in global orthodontic supplies market.
The competitive landscape of the orthodontic supplies market is inclusive of players such as Great Lakes Orthodontics, Oswell Dental, Rocky Mountain Orthodontics, Dentaurum, Danaher Corporation, American Orthodontics, 3M, and Align Technologies among others.