LONDON, Oct. 31, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the global orthodontics market is expected to grow at a CAGR of 11.7% from 2018 to reach $6,035.0 million by 2023. The growing number of dentists, increasing prevalence of malocclusion, and increasing awareness about advanced orthodontic treatments are the key factors driving the growth of this market. In addition, adoption of advanced imaging modalities and treatment planning software are further expected to increase the number and quality of orthodontic treatment which in turn will drive the market growth. However, high cost of advanced orthodontic treatments and limited reimbursement is expected to hinder the growth of this market.
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Removable braces accounted for the largest share of orthodontics market. The largest share and high growth rate of removable braces is mainly attributed to growing adoption of invisible braces in the developed countries and growing number of orthodontic treatments in emerging countries. In addition, decrease in prices of clear aligners is further expected to drive the adoption of removable braces, especially in emerging countries.
Children and Teen (below age of 19 years) accounted for the largest share of orthodontics market with the growing adoption of invisible braces among teens in developed countries, increasing adoption of orthodontic treatment, and growing number of orthodontists across the globe. The prevalence and severity of malocclusions in children are of great relevance for orthodontic prevention.
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Geographically, Asia Pacific is expected to register the fastest growth for orthodontics market during the forecast period. Several factors, such as increasing number of dentists, large pool of patients seeking orthodontic treatment, and increasing prevalence of malocclusion is expected to drive the growth of orthodontic products in APAC region. Increasing disposable income and growing awareness on oral health are further expected to drive the growth of this regional segment.
The major players operating in the consolidated global orthodontics market are Align Technology, Inc., 3M Company, Danaher Corporation, G&H Orthodontics, Straumann AG, Dentsply Sirona Inc., Ultradent Products, Inc., Great Lakes Orthodontics, Ltd., DB Orthodontics, Dental Morelli Ltda., DENTAURUM GmbH & Co., TP Orthodontics, Inc., among others.
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