NEW YORK, Aug. 02, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Orthodontic Supplies Market by Product (Fixed Braces, Removable Braces, Orthodontic Adhesives), by End User (Children & Teenagers, Adults) – Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023” published by P&S Market Research, the orthodontic supplies market is expected to grow at a CAGR of 8.3% during 2017 - 2023.
According to the study, the global orthodontic supplies market is likely to grow from $3.4 billion in 2016 to $5.9 billion by 2023. The demand for orthodontic supplies is on a surge mainly due to increasing prevalence of oral diseases. Some of the most common oral diseases include dental cavities, periodontal diseases, oral cancer, malocclusions and other oral diseases and disorders. High prevalence of oral diseases depicts increased demand for orthodontic supplies. According to the World Health Organization (WHO), around 60% to 90% of the school children and nearly 100% of adults suffer from dental cavities. It has also been observed that, around 15% to 20% of adults aged between 35 to 44 years, suffer from severe periodontal (gum) disease.
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As per the findings of the research, based on product, the fixed braces held the largest share in the global orthodontic supplies market, primarily due to their efficacy and precision in treating the irregularities in dental structure. Removable braces are expected to register the fastest growth in the orthodontics supplies market during the forecast period. The growth of the removable braces is primarily attributable to increase in the adoption of these braces by adults over traditional braces. Based on end user, children & teenagers are the larger end user in the orthodontic supplies market. Orthodontic treatments are more effective and successful in childhood or teenage as treatment at early age also prevents the development of serious problems, thereby leading to the larger adoption of orthodontic supplies at this age. The orthodontic supplies market for adults is expected to witness higher growth during the forecast period, mainly due to the increasing investment for the development of aesthetic braces and rising awareness about orthodontic treatment.
Geographically, North America has been the largest market for orthodontic supplies, with the U.S. being the larger contributor to the regional market, as compared to Canada. The dominant position of the North American orthodontic supplies market is mainly attributable to high prevalence of dental disorders, along with the increasing urge in the people to look better, aesthetically. According to the Centers for Disease Control and Prevention (CDC), 31.6% adults aged 20-44 years have untreated dental caries. Also, according to the American Academy of Cosmetic Dentistry (AACD), around 86% of the patients underwent dentistry treatment to improve physical attractiveness and self-esteem, in 2015.
According to the reports of an independent study of American Academy of Cosmetic Dentistry (AACD), 86% of the patients underwent cosmetic orthodontics treatment to improve physical attractiveness and increased self-esteem in 2015.
Therefore, the increasing prevalence of inclination towards the appearance has made the adoption of cosmetic orthodontics a trend in the global orthodontic supplies market.
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Market players in the orthodontic supplies market are offering more advanced orthodontic supplies through increased number of acquisitions and product launches as their key strategies. In February 2017, Align technology, Inc. acquired Invisalign distributor Align Technology Do Brasil LTDA for the Brazil market. This acquisition helped the company to focus on the commercial, marketing and operational needs of doctors and potential patients in Brazil.
Some of the other key players operating in the orthodontics supplies market include 3M Company, Danaher Corporation, G&H Orthodontics Inc., American Orthodontics, TP Orthodontics Inc., Rocky Mountain Orthodontics, Dentaurum GmbH & Co. Kg and DB Orthodontics Inc.
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