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.
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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
Market expansion is anticipated to be boosted by various tactics used by major industry players, such as collaborations & acquisitions, partnerships, mergers, and more.
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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
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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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