Orthodontic Supplies Market is Expected to Grow at a CAGR of 8.75% by 2023 | Insights MRFR
MRFR Provides Appropriate Analysis of Global Orthodontic Supplies Market by Geographical Analysis, Scope, Applications, Products, Prominent Audience, End Users, and Market Players for Global, and Country Level Market Segments, etc
Pune, India – February 28, 2019 /MarketersMedia/ —
The Global Orthodontic Supplies Market is expected to grow at an approximate CAGR of 8.75% during forecast period, 2018 2023.
Rising popularity of dental tourism is the key factor driving the orthodontic supplies market. For instance, in 2018, Ormco Corporation introduced a new line of premium orthodontic instruments to assist specialists with all dental procedures.
Various other factors such as favorable reimbursement for dental procedures, high prevalence of orthodontic conditions, technological advancements, and increasing disposable incomes are also expected to propel the growth of the market.
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However, the risks associated with orthodontic treatments, and high cost of advanced orthodontic treatments in some countries can hinder the market growth over the forecast period.
Some of the key players in the global Orthodontic Supplies Market are 3M, Align Technology, American Orthodontics, Danaher, DB Orthodontics, Dental Morelli, Dentaurum, Dentsply Sirona, G&H Orthodontics, Great Lakes Orthodontics, Henry Schein, Rocky Mountain Orthodontics, Straumann Holding AG, TP Orthodontics, Ultradent Products, and others.
The global orthodontic supplies market is segmented based on product, patient, end user, and region.
The global market for orthodontic supplies, by product is segmented into fixed braces, removable braces, adhesives, and accessories.The fixed braces segment is further classified as brackets, archwires, anchorage appliances, and ligatures. The brackets segment includes conventional brackets, self-ligating brackets, and lingual brackets. The archwires segment includes beta titanium archwires, nickel titanium archwires, and stainless steel archwires. The anchorage appliances segment includes bands and buccal tubes, and miniscrews. The ligatures segment includes elastomeric ligatures, and wire ligatures.
Based on patient type, the market is segmented into children and teenagers, and adults.
Based on end user, the market is segmented into hospitals, clinics, and others. The hospitals segment is anticipated to hold the largest market share owing to the increasing cases of orthodontic conditions.
The Americas dominated the global market for orthodontic supplies owing to the presence of major market players, and improvement in the reimbursement scenario within the region.
In 2017, it was estimated that Europe stood second in the global orthodontic supplies market. This can be attributed to the increasing technological advancements, and rising research and development investments.
Asia Pacific was projected to be the fastest growing region in 2017. Increasing awareness about dental tourism drives the regional markets of the Asia Pacific region. Due to low prices for dental care, Thailand is becoming a trending location for dental tourism among the international dental tourists. For instance, dental veneers can cost around USD 1800 in the US with the same procedure costing about USD 250 in Thailand.
On the other hand, the Middle East and Africa held least share in the global orthodontic supplies market due to the low economic development, especially within the African region.
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