Orthodontic Supplies Market Worth Over $7 Billion by 2024: Global Market Insights, Inc.

SELBYVILLE, Delaware, July 11, 2018 /PRNewswire/ --

World Orthodontic Supplies Market is projected to cross USD 7 billion by 2024; according to a new research study published by Global Market Insights, Inc. Increasing incidence of malocclusion in children and adults will drive industry growth during the forecast period. Currently around 60% to 75% of the total global population is suffering from malocclusion or misaligned teeth. Rise in need for orthodontic treatment for malocclusions and other different orthodontic disorders will garner opportunities for the industry growth.

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Technological advancements in removable braces such as improvements in design has enhanced outcomes fostering greater product adoption. The rise in awareness among the people about their physical appearance in Europe region has escalated the demand for use of technologically advanced invisible removable braces.

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However, unfavourable reimbursement policies and insurance coverage for orthodontic treatments in majority of the growing markets such as Asia Pacific and Latin America region will impede the orthodontic supplies market growth.

Fixed braces held significant industry share with revenue of over USD 1.2 billion in 2017 owing to the increasing prevalence of malocclusion. The use of fixed braces for malocclusion treatment has become quite imminent and will therefore escalate the business growth in the near future.

Browse key industry insights spread across 150 pages with 63 market data tables & 10 figures & charts from the report, "Orthodontic Supplies Market Size By Product (Fixed Braces {Brackets, Archwires, Ligatures, Anchorage appliances}, Removable Braces, Orthodontic Adhesives), By Patient (Children & Teenagers, Adults), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa,), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024" in detail along with the table of contents: 

https://www.gminsights.com/industry-analysis/orthodontic-supplies-market

Adult business segment will witness over 9% CAGR over the forecast timeframe. There has been considerable increase in the number of adults undergoing orthodontic treatment such as malocclusions owing to increase in disposable income and rise in awareness regarding oral healthcare.

U.S. market is expected to witness 8.8% growth due to increasing number of teenagers and adults opting for orthodontic treatment, growing adoption of invisible and removable braces, favorable reimbursement policies and extensive insurance coverage.

Brazil market was valued at USD 109.1 million in 2017 owing to rising healthcare expenditure and growing awareness regarding oral healthcare. Presence of developing healthcare system providing necessary treatments for all aspects of orthodontic treatment will further augment demand.

Prominent industry players include 3M, Align Technology, Straumann group, DENTSPLY Sirona, American Orthodontics, Patterson Companies, Henry Schein, G&H Orthodontics and DENTAURUM. The industry participants use strategies such as enhancing their manufacturing footprint, acquisition, new product launches and geographical expansion for improving their market position. In August 2017, Straumann Group acquired ClearCorrect, LLC, a leading clear aligners manufacturer.

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About Global Market Insights 

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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