DUBLIN, Dec. 16, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/rhncx9/latin_america) has announced the addition of the "Latin America Orthodontic Supplies Market - Forecast to 2020" report to their offering.
The Latin America orthodontic supplies market is valued at USD 245.0 Million in 2015 and expected to reach USD 320.2 Million by 2020, at a CAGR of 5.5% from 2015 to 2020.
A number of factors such as the growing number of patients with malocclusions, lower cost of orthodontic treatment in Latin American countries as compared to other developed nations, higher concentration of orthodontics associations, decreasing trade barriers for medical devices in some Latin American countries, and rising disposable incomes in countries such as Brazil, Mexico, and Chile are propelling the growth of the Latin America orthodontic supplies market.
Moreover, growing medical tourism in Latin America, increasing adoption of orthodontic treatment, and improving socioeconomic status will provide growth opportunities for the players in the region. On the other hand, factors such as several risks and complications during or post orthodontic treatments and limited reimbursement coverage for orthodontic treatments are restraining the growth of this market.
Geographically, Brazil commands the largest share of 30.0% the Latin American orthodontic supplies market in 2015, followed by Mexico. A number of factors such as the rising prevalence of malocclusions, growing middle-class population, increasing number of orthodontists, rising number of training and development programs on orthodontics treatment, and rising government initiatives and support towards the improvement of oral healthcare in the country are driving the growth of the orthodontic supplies market in Brazil.
However, its complicated tax and product approval systems, high cost of orthodontic treatment, and ongoing economic recession are hampering Brazil's market growth. Chile is poised to grow at the highest CAGR of 6.3% in the market due to the healthcare and trade-related initiatives taken by the Chilean government to raise awareness and better economic landscape in Chile as compared to other countries.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Latin American Orthodontic Supplies Market, By Product
7 Latin American Orthodontic Supplies Market, By Country
8 Competitive Landscape
9 Company Profiles
Companies Mentioned:
For more information visit http://www.researchandmarkets.com/research/rhncx9/latin_america
Media Contact:
Laura Wood, +353-1-481-1716, press@researchandmarkets.net
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