SELBYVILLE, Del., Jan. 14, 2021 /PRNewswire/ -- According to latest report "Orthodontic Supplies Market by Product (Fixed Braces, Removable Braces, Orthodontic Adhesives), Patient (Children & Teenagers, Adults), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of orthodontic supplies will cross $10.5 billion by 2026.
Rise in disposable income in North America will stimulate the market growth. The consistent improvement in the economy of North America has increased disposable income in the past few years. According to a published study by the National Center for Biotechnology Information (NCBI), per capita dental care expenditure for the overall U.S. population increased by around 27% in the last decade. This has made the access of orthodontic treatment possible for all sectors of population in the region and prompted the population to avail orthodontic treatments. As a result, there is a rise expenditure on orthodontic procedures that is boosting the demand for orthodontic supplies.
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Rise in awareness among people about oral health in Latin America will foster the orthodontic supplies market expansion. The Latin America and the Caribbean (LAC) region is significantly witnessing increase in adult population suffering from dental pain and discolored or broken teeth at an unprecedented rate. Such orthodontic conditions can adversely affect the health and well-being of the people. Therefore, health organizations in the region are predominantly engaged in spreading awareness about oral health.
Fixed braces segment valued at USD 1.42 billion in 2019 owing to high strength, relatively lower costs and high durability. Fixed braces enable precise tooth movements to provide long-lasting and better results. These braces are ideally used for the correction of overbite or crossbite, crowded or crooked teeth, wide gaps or problems with an underbite. Fixed braces are recommended for serious teeth alignment issues such as jaw position and more complex orthodontic cases.
Adult patients segment in the orthodontic supplies market will showcase the growth rate of 10% till 2026 led by the growing number of the adult population, rising concern of facial aesthetics and availability of advanced orthodontic products. According to a survey by the World Health Organization (WHO), access of adults expressing a need for oral health services range expands from 35% in low-income countries to 60% in lower-middle-income countries, 75% in upper-middle income countries and 82% in high-income countries. Therefore, these factors are leading to an increased demand for orthodontic supplies.
Brazil orthodontic supplies market size was around USD 145 million in 2019 on account of the rising prevalence of malocclusions and increasing number of orthodontists. Factors such as rising number of training and development programs on orthodontics treatment, rising government initiatives for the improvement of oral healthcare in the country are also driving the demand for market. In addition, tooth problems, growing consumption of unhealthy food and development of orthodontic technology is fueling the regional growth.
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Some of the major players operating in the orthodontic supplies market are Astar Orthodontics Inc., 3M, Align Technology Inc., American Orthodontics Inc., DB Orthodontics Ltd, Dental Morelli Ltd., G&H Orthodontics Inc and Rocky Mountain Orthodontics. These companies are engaged in undertaking several strategies such acquisitions, mergers, partnerships and product launches. The organizations are working on expanding their orthodontic supplies portfolio through focusing on research and development of innovative products.
Table of Contents (ToC) of the report:
Chapter 3 Orthodontic Supplies Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 - 2026 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By patient
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter's analysis
3.8 Competitive landscape
3.8.1 Company matrix analysis, 2019
3.9 PESTEL analysis
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Orthodontic Supplies Market Growth Predicted at 11% Through 2026: GMI
Major orthodontic supplies market players include Astar Orthodontics Inc., 3M, Align Technology Inc., American Orthodontics Inc., DB Orthodontics Ltd, Dental Morelli Ltd., G&H Orthodontics Inc and Rocky Mountain Orthodontics.
SOURCE Global Market Insights, Inc.