Global orthodontic supplies market set for fast growth
This is according to a recent report by American market research firm Reportlinker. Although mature markets (such as the US, Germany, France, and the UK) hold larger shares in the orthodontic supplies market, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period.
Factors such as growing number of patients with malocclusions, jaw diseases, tooth decay/tooth loss, and jaw pain; technological advancements in the field of orthodontics; increasing demand for orthodontic treatment among adolescents; and rising disposable incomes in developing countries such as India, China, and Brazil having relatively high decayed, missing, and filled teeth are driving the growth of the orthodontic supplies market.
On the other hand, factors such as several risks and complications during or post orthodontic treatments and limited reimbursement coverage for orthodontic treatments are restraining the growth of this market. Additionally, growing demand for invisible braces among teenagers and adults and increasing adoption of orthodontic treatments in emerging markets are creating growth opportunities for the orthodontic supplies market.
In this report, the global orthodontic supplies market has been segmented on the basis of products into fixed braces and removable braces. The fixed braces segment is further categorised into brackets (conventional brackets, self-ligating brackets, and lingual brackets), archwires (beta titanium archwires, nickel titanium archwires, and stainless steel archwires), anchorage appliances (bands and buccal tubes and miniscrews), and ligatures (elastomeric ligatures and wire ligatures).
The fixed braces segment is estimated to account for the largest share of the global orthodontic supplies market in 2015. Factors such as technological advancements in orthodontic products, increasing number of malocclusion cases, and growing awareness among customers regarding advanced orthodontic treatments are driving the growth of the orthodontic supplies market.
Geographically, the global orthodontic supplies market has been classified into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)*. The orthodontic supplies market is also analysed at country levels. North America comprises the U.S. and Canada; Europe comprises Germany, France the UK and Rest of Europe); and Asia-Pacific comprises India, China, Japan, and Rest of Asia-Pacific.
North America commands the largest share of the global orthodontic supplies market in 2015, followed by Europe. The large share of this region is attributed to higher per capita income, growing public and private funding to support the dental industry, higher demand for orthodontic treatment among adolescents, and the presence of major orthodontic product manufacturers in North America (particularly in the U.S.). The Asia-Pacific region is poised to grow at the highest CAGR during the forecast period, owing to factors such as growing public and private efforts to increase awareness related to orthodontic procedures, constant growth in healthcare expenditure in APAC countries, and increasing incidence/prevalence of malocclusion and tooth decay in various APAC countries.
The global orthodontic supplies market is moderately competitive with various global as well as local market players. As of 2014, the global orthodontic supplies market was dominated by 3M Unitek Corporation (US), Align Technology, Inc. (US) and Ormco Corporation (US) which together accounted for ~66.0% of the market. New product launches and product upgradation, partnerships, agreements, mergers, and strategic acquisitions are the major strategies adopted by most of the market players to achieve growth in the global orthodontic supplies market.
From an insight perspective, this research report has focused on various levels of analysis — industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the orthodontic supplies market, high-growth regions and their respective drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share.
Read the full report: http://www.reportlinker.com/p03173496-summary/view-report.html
* RoW includes Latin America, the Middle East, and Africa