South Korea, Seoul, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Expanding at a high-value CAGR of 11%, the global orthodontic supplies market is projected to reach a valuation of US$ 12 billion by 2026, says Fact.MR, a market research and competitive intelligence provider.
Malocclusion, a condition marked by inappropriate alignment of the teeth and jaws, is treated largely by orthodontics, a field of dentistry. The aim is to correct dental alignment, cover up ugly gaps, and create atypical bite patterns.
Several types of permanent and removable equipment are available for jaw development, teeth movement, and muscle retention. Some of the fixed orthodontic products include braces, special fixed equipment, and fixed space maintainers, whereas removable orthodontic products include aligners, removable retainers, palatal expanders, and other items.
The market is being driven by factors such as the rising prevalence of orthodontic disorders, acceleration of technology development, and increasing public awareness of orthodontic procedures.
- Malocclusion, along with periodontal disease and cavities, is regarded as one of the most important dental health issues, according to a report from the Dentistry Journal from October 2021.
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Between 39% and 93% of children and adolescents are thought to have malocclusion. The prevalence of malocclusion among the population is projected to rise, which will drive demand for orthodontics products such as braces and aligners and propel market expansion.
Key Takeaways from Market Study
- Demand for orthodontic supplies is rising because of an increase in patients suffering from tooth decay, malocclusions, jaw pain, and other jaw illnesses globally. For instance, malocclusion, or misaligned teeth, is the third-most common oral illness in the world, affecting roughly 60% to 75% of the population.
- Sales of orthodontic devices will be further supported by growing knowledge of the advantages of orthodontic treatment and ongoing product improvements providing higher performance and efficiency.
- The global market for orthodontic supplies is seeing development prospects due to increased demand for invisible braces among adults and teenagers, as well as increased adoption of orthodontic treatments in emerging regions.
- Demand for orthodontic equipment is expected to surge at a CAGR of 11% from 2022 to 2026.
Winning Strategy
Market expansion is anticipated to be boosted by various tactics used by major industry players, such as collaborations & acquisitions, partnerships, mergers, and more.
- For instance, Propel Orthodontics' assets were purchased by Dentsply Sirona in June 2021. With this acquisition, the business will be better positioned to compete in the quickly expanding market for orthodontic products.
- The Ormco Corporation introduced the Ultima Hook, which was created especially for the Ultima wire, in May 2022. It is made to work effectively and efficiently in conjunction with orthodontic treatment to address malocclusions.
- Eon Dental unveiled an updated Eon Aligner ecosystem of support utilities and solutions in April 2022. To supply cutting-edge, patient- and doctor-centric solutions, Eon Aligner will be able to offer more initiatives to its clients with the help of this new launch.
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COVID-19 Impact on the global orthodontic supplies market
The COVID-19 pandemic has significantly affected the orthodontic supplies market. Due to the pandemic, the orthodontic supplies market experienced short-term negative growth, which can be attributed to a sharp reduction in access to hospital temporarily shutdown of orthodontic clinics. This led to reduction in the dental spendings amount patients. According to the American Dental Association (ADA), the US witnessed a decline of 66% in dental spending in 2020. Around 32% of reduction in US dental spending is expected in 2021.
The restricted or limited access to dental clinics, temporary closure of hopitals, and implementation of strict lockdown resulted in a reduction in the number of monthly appointments in dental clinics. This further reduced the sales of orthodontic products. With the reopening of hospitals and dental clincs along with the penetration of tele dentistry and relaxations in lockdown measures, growth in this market is expected to pick up pace in the coming months.
Key Segments in Orthodontic Supplies Industry Research
- By Product :
- Fixed Braces
- Removable Braces
- Retainers
- Adhesives
- By Patient :
- Children & Teenagers
- Adults
- By End User :
- Hospitals
- Dental Clinics
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global orthodontic supplies market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.
The study divulges essential insights on the market on the basis of product (fixed braces, removable braces, retainers, adhesives), patient (children & teenagers, adults), and end user (hospitals, dental clinics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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