Now may be a good time to get into orthodontics, as analysis companies agree that growth is ahead. Grand View Research expects the orthodontic consumables market to reach $5.4 billion by 2024, while MarketsandMartkets says the orthodontic supplies market will grow to $4.71 billion by 2021, with a compound annual growth rate (CAGR) of 8.0%.
Both companies attribute the increase to a growing number of patients with malocclusion. Grand View Research says that food habits are changing, so biologically, the need for large, bulky jaws is receding. Human beings have smaller jaws as a result, and the lack of space for 32 teeth results in malocclusion, driving the market.
Additionally, Grand View Research cites growing demand for better overall oral health and hygiene, an increasing use of dental services by the aging population, and more demand for cosmetic dentistry. MarketsandMarkets notes increasing numbers of patients with jaw diseases, tooth decay and loss, and jaw pain, plus greater awareness of advanced orthodontic procedures among consumers and new technologies propelling growth.
While MarketsandMartkets adds that increasing disposable income and an expanding middle class in developing countries are further driving the increase, Grand View Research says that low access to oral healthcare and healthcare facilities in these regions will restrain growth.
Grand View Research predicts that brackets will lead the orthodontics consumables market and have a robust CAGR because of their widespread use in fixed orthodontics, which have gained popularity. Specifically, the company said, self-ligating brackets will have a healthy CAGR and the greatest share because of their increased treatment efficiency. Also, they don’t need external ligature or elastic to hold the archwire in position.
MarketsandMarkets divides the orthodontic supplies market into fixed braces, removable braces, and orthodontic adhesives. The company believes fixed braces will command the largest share of the market primarily because of their greater affordability compared to removable braces and increased adoption of fixed braces among adolescents.
Regionally, Grand View Research says that North America will have the highest share in 2015 due to increases in the geriatric population, advances in technology, and increasing insurance coverage from third-party providers. Europe will have the next highest share. Both research companies agree that the Asia-Pacific region will see the fastest growth.
Grand View Research cites the region’s dense population, increased malocclusion, and gradual advent of dental practices. MarketsandMarkets also notes the large population and increased malocclusion, plus growing efforts to increase awareness of orthodontic treatments, more attention to the region from global orthodontic companies, and a growing middle class with disposable income.