The orthodontics market is expected to grow significantly during the forecast period, owing to surge in dental tourism. As dental treatment is expensive in developed countries, patients opt for dental treatment in countries such as India, Philippines, Thailand, Mexico, Turkey, Poland, and Costa Rica, which provide low-cost, affordable, and quality treatment.
Portland, OR -- (SBWIRE) -- 05/22/2018 -- According to a new report published by Allied Market Research, titled, "Orthodontics Market by Type and Age Group: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global orthodontics market was valued at $1,493 million in 2016, and is projected to reach $2,597 million by 2023, growing at a CAGR of 8.2% from 2017 to 2023. North America is anticipated to be the highest revenue contributor throughout the forecast period.
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Orthodontics is a form of dental treatment opted to treat malocclusion and improper teeth & jaw positioning. Crowded, protruded, and crooked teeth along with problems associated with the bite of the teeth can be treated using orthodontics. A pleasing smile and properly positioned teeth are some of the benefits associated with orthodontics treatment.
The orthodontics market is anticipated to grow considerably in the near future, owing to different factors such as rise in prevalence of dental diseases & malocclusions, surge in geriatric population who are prone to tooth loss, increase in awareness towards oral health, and rise in dental tourism. However, risks associated with orthodontics and limited reimbursement policies are expected to restrain the market growth. On the contrary, huge untapped market potential in the emerging countries, such as China and India, and high adoption of orthodontic procedures are expected to provide lucrative opportunities to the market players.
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By type, the brackets segment accounted for the maximum share of the global orthodontics market in 2016, and is projected to exhibit prominent growth rate, owing to the high applicability and demand for brackets in various orthodontic treatments. Upsurge in prevalence of musculoskeletal disorders & diseases drives the growth of the orthodontics market for brackets.
In the orthodontics market, the adults segment occupied more than three-fifths share of the in 2016, highest amongst all age groups, and is anticipated to continue this trend, due to rise in prevalence of malocclusion in adults. By region, North America generated the highest revenue in the global orthodontics market in 2016.
Key Findings of the Orthodontics Market:
-Brackets accounted for more than three-fourths share of the orthodontics market in 2016.
-The adults segment is anticipated to grow with the highest CAGR throughout the forecast period.
-North America accounted for more than two-fifths share of the global orthodontics market in 2016.
-The Asia-Pacific region is anticipated to grow at the highest rate in the orthodontics market during the analysis period.
The report provides extensive competitive analysis and profiles of key market players such as 3M Company, Align Technology, Inc., American Orthodontics, Danaher Corporation, Dentaurum GmbH & Co. KG, DENTSPLY International, Inc., G&H Orthodontics, Inc., Henry Schein, Inc., Rocky Mountain Orthodontics, Inc., and TP Orthodontics, Inc. The other players in the value chain (not included in the report) include TOC Dental, Lancer Orthodontics, DB Orthodontics, and Ostertag Orthodontics LLC.
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