Brace yourselves for some good news. The orthodontic supplies market will reach $3.978 billion by 2020, with a compound annual growth rate (CAGR) of 6.9%, according to a recent report by MarketsandMarkets.
Several factors are driving this growth. Primarily, the number of patients with malocclusions, jaw diseases, tooth decay and loss, and jaw pain is increasing. There’s also rising demand for orthodontic treatment among adolescents. Advances in technology are having a positive effect on the market. And, disposable incomes are booming in developing countries such as India, China, and Brazil, which also have relatively high occurrences of decayed, missing, and filled teeth (DMFT). However, risks and complications during and after orthodontic treatment as well as limited reimbursement coverage are hampering market growth.
North America holds the largest share of the orthodontic supplies market, followed by Europe. The Asia-Pacific market will grow at the highest CAGR through 2020, though, thanks to the growing public and private initiatives to increase awareness related to orthodontic procedures, constant growth in healthcare expenditure, and the increasing incidence and prevalence of malocclusion and tooth decay.
Researchers divided the market into two major segments: fixed braces, which include brackets, archwires, anchorage appliances, and ligatures, and removable braces. Key players include 3M Unitek Corp., Align Technology Inc., American Orthodontics, BioMers Pte Ltd., DB Orthodontics Ltd., DENTSPLY International Inc., Ormco Corp., and Rocky Mountain Orthodontics Inc.
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