The global orthodontic supplies market is witnessing considerable growth due to increasing patient pool with jaw diseases, malocclusions, tooth decay and jaw pain.
Increasing healthcare expenditure and growing awareness about advanced orthodontic treatments and increase in innovative product launches across the globe is supporting the growth of the market. Based on product, the fixed braces segment is expected to grow at the faster rate, during the forecast period.
The increasing adoption of fixed braces owing to its cheaper cost in comparison to removable braces and increase in number of patients with imperfect positioning of teeth is driving the growth of this segment. Children and teenagers are the major end users of the orthodontic supplies owing to increased adoption of braces and increased cases with jaw disorders.
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The rapid growth in emerging economies including India, China, Japan and South Korea and increasing demand for aesthetic orthodontic treatments among the patients is expected to create revenue generation opportunities for the manufacturers of orthodontic products. However, high cost and risk associated with orthodontic treatment act as a restraint for the growth of the market.
The unfavorable reimbursement policies and limited insurance coverage for orthodontic treatment further hampers the growth of the global market. Orthodontic treatment is a process which moves the poorly aligned teeth to desirable position.
These treatments improve appearance as well as helps the biting position and chewing function of teeth. It helps in long term health of teeth, jaw and gums by distributing the biting pressure over all the teeth.
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Europe has been the second largest market for orthodontic supplies in 2015, where market is driven by the increasing healthcare expenditure, increasing awareness about the orthodontic products and treatments owing to the growth of medical tourism and increasing number of patients with misaligned teeth (malocclusion). In 2015, Germany has been the largest market in the European orthodontic supplies market and it also expected to witness fastest growth in Europe, during the forecast period.
Globally, the orthodontic supplies market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing awareness about orthodontic treatments, increasing per capita income leading to improving standard of living, increasing healthcare spending and growing demand for better quality medical care.
In addition, increasing prevalence of tooth disorders, jaw disorders and increasing number of cases with malocclusions in the region drives the market growth.
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The key players operating in the global orthodontic supplies market are 3M Company, Danaher Corporation, Henry Schein, Inc., Align Technology Inc, American Orthodontics, Dentsply International, Inc., Rocky Mountain Orthodontics Inc., G&H Orthodontics Inc, TP Orthodontics, Inc. and Dentaurum GmbH & Co. Kg.
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