Global Orthodontics Market: Types, End Users, Growth Rates and Revenue Shares, and Forecast from 2020 to 2029” is a recently produced report by Market.US. The global orthodontics market is projected to reach a value of US$ 5.7 Billion in 2028, from a value of US$ 2.6 Billion in 2018. The global market is projected to register a substantial growth rate of 8.1%.
Inclining global prevalence of teeth misalignment or malocclusion, and the need for correction of incorrect relation between teeth are among major factors expected to drive growth of the global orthodontics market. In addition, certain major players are laying emphasis on expansion of geographical presence of their business by implementing strategic plans and launching innovative dental products, which is projected to fuel growth of the target market.
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The rapidly growing geriatric population globally, developing healthcare infrastructure in various emerging economies, and rising awareness regarding personal appearance or aesthetic appeal, particularly among younger generation, are additional key factors projected to propel the demand for orthodontic products in developing countries. Emerging markets in countries including China, India, Mexico, and Brazil are projected to offer revenue profit opportunities for major players engaged in the development of orthodontics products.
Increasing demand and need for cosmetic dentistry among individuals is expected to support growth of the global orthodontics market in the next 10 years. For instance, as per a survey, approximately 6 out of 10 patients demand for cosmetic dentistry. Furthermore, primary factors such as increasing number of dentists across the globe, growing global population, and growing necessity for treating malocclusion are expected to support market growth. For instance, as per a published report, in the last five years, the number of dentists practicing orthodontics have increased by around 34%
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However, substantially high costs associated with the treatment, and lack of appropriate reimbursement policies in various countries are major factors that could limit growth of the global orthodontics market to a certain extent. Also, lack or no awareness about malocclusion and available treatment among people, as it does not show painful symptoms, is another factor that could challenge market growth.
The market has been segmented on basis of product, age, and region.
Among the product types, invisible orthodontics, lingual orthodontics, and orthodontics; the invisible orthodontics product type segment is expected to account for majority revenue share in the target market, as well as register highest CAGR over the 10-year forecast period. Among the two segments based on age group, adults and teenagers, the teenagers segment is expected to account for majority revenue share in the global market.
Among the five regions considered in the report, that is, North America, Europe, Asia Pacific, South America and Middle East & Africa; the North America market is expected to account for majority revenue share. This can be due to inclining trend of cosmetic surgeries including orthodontics, among individuals regardless of age and gender is among the major factors driving North America market growth. The American Dental Association (ADA) report states that around 70% of female population sought braces treatment, and mostly for aesthetic appeal. The Asia Pacific market is projected to register highest compound annual growth rate in the global market over the 10-year forecast period.
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Major players profiled in the final report include 3M Company, Align Technology, Inc., DENTSPLY SIRONA Inc., American Orthodontics, Straumann Holding AG, BioMers Pte Ltd., DB Orthodontics, ClearPath Orthodontics, TP Orthodontics, Inc., Rocky Mountain Orthodontics, Inc., Great Lakes Orthodontics, Ltd., G&H Wire Company, Inc., DENTAURUM GmbH & Co. KG, and Danaher Corporation.
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