The orthodontics supplies market will see a compound annual growth rate of 8.9% to go from $4.32 billion in 2018 to $6.63 billion by 2023, MarketsandMarkets reports. The research firm attributes this growth to the rising incidence of malocclusions and jaw disorders, increasing disposable incomes and the expanding middle class in developing countries, growing consumer awareness of advanced orthodontic treatment, and ongoing research and innovation related to orthodontic products.
MarketsandMarkets categorizes orthodontics supplies by fixed braces, removable braces, adhesives, and accessories and expects fixed braces to command the largest share of the overall market in 2018 due to their affordability compared to removable braces, the increasing adoption of fixed braces among adolescents and adults, effective outcomes, and the huge demand in emerging countries such as India, China, and Brazil.
By age, children and teenagers will account for the largest share of the orthodontics supplies market in 2018 due to the high prevalence of malocclusions and jaw disorders, coupled with the increased adoption of fixed braces. Geographically, North America will command the largest share of the market in 2018 because of the growing acceptance of orthodontic treatment among children and adults, rising per capita income, the growing importance of appearance and aesthetics, and the presence of major manufacturers.