The global orthodontic supplies market is expected to reach USD 4.71 Billion by 2021, at a CAGR of 8.0% during the forecast period.
Factors such as the growing number of patients with malocclusion, jaw diseases, tooth decay/tooth loss, and jaw pain; increasing disposable income and expanding middle-class population in developing countries; increasing awareness among consumers about advanced orthodontic treatments; and technological advancements in orthodontic products are driving the growth of the global market.
However, factors such as unfavorable reimbursement policies and limited insurance coverage for orthodontic treatments and risks and complications associated with orthodontic treatments are some of the major factors restraining the growth of this market. In addition to this, high cost of advanced orthodontic treatments and inflow of low-cost Chinese products in the market are challenging the growth of this market.
The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period. This is primarily due to high prevalence of malocclusion and jaw disorders; growing efforts to increase awareness of advanced orthodontic treatments; growing focus of global orthodontic/dental companies on emerging APAC countries; and increasing disposable income coupled with growing middle class population in the APAC region.