Global Orthodontic Supplies Market Forecasted to Reach $5.5 Billion by 2023: P&S Market Research

New York, New York, UNITED STATES

NEW YORK, July 05, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, orthodontic supplies market is expected to reach $5.5 billion by 2023, growing at a CAGR of 8.3% during 2017-2023. The increasing prevalence of oral diseases, technologically advanced orthodontic supplies products, increasing disposable income and rising awareness among consumers about advanced orthodontic products are driving the growth of the market.

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The technologically advanced orthodontics products have transformed the orthodontic treatment procedures. Some of the recent advancements in orthodontic products include Invisalign, invisible range of invisible clear aligners, manufactured by Align Technology, Inc., which helps in moving the teeth without the use of braces, mini-screws, and mini-implants. Additionally, the use of biomaterials in these products has also led to a change in the market dynamics. Advanced biomaterials are resilient, easy to fabricate, highly biocompatible inert and highly strong. Moreover, the other recent innovation has been the development of lingual braces, which are the hidden braces bonded behind the teeth rather than in front. Technologically, advanced orthodontic products offer various advantages over conventional products, which has led to their increased adoption by orthodontists and consumers for treating dental problem in children and adults, thereby driving the growth of the orthodontic supplies market.

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The Asia-Pacific market for orthodontics supply was valued at $719.7 million in 2016 and is expected to reach $1.3 billion by 2023, growing at a CAGR of 9.2% between 2017-2023. The Asia-Pacific orthodontic supplies market has been experiencing growth, mainly due to large patient population with various dental disorders, increasing disposable income, aging population, growing efforts to increase awareness about advanced orthodontic treatments, and growing focus of global orthodontic/dental companies on emerging APAC countries. Among the countries in the Asia-Pacific region, China held the largest share in the Asia-Pacific orthodontic supplies industry in 2016, mainly due to growing aging population and increasing adoption of orthodontics products to improve the facial appearance. India is expected to project the fastest growth in the Asia-Pacific orthodontic supplies market. The growth in India is mainly driven by increasing awareness about the advanced orthodontics products, growing aging population and increasing disposable income.

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Some of the key players operating in the orthodontic supplies market include Dentsply Sirona Inc., 3M Company, G&H Orthodontics Inc., Danaher Corporation, American Orthodontics, Align Technology Inc., Rocky Mountain Orthodontics, Dentaurum GmbH & Co. Kg and DB Orthodontics.

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