Global Orthodontics Market Is Expected to Reach USD 8.96 Billion by 2028 : Fior Markets

Newark, NJ, June 24, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global orthodontics market is expected to grow from USD 4.43 billion in 2020 to USD 8.96 billion by 2028, at a CAGR of 9.2% during the forecast period 2021-2028.

Orthodontics is a dental specialty that focuses on improving dentofacial appearance. As the importance of ensuring good dental hygiene and oral health is becoming increasingly recognized, the market for orthodontic procedures is growing significantly. Due to factors like the high incidence of malocclusion, among the most common dental disorders globally, the aging population's increased use of dental care, and rising demand for cosmetic dentistry operations, the industry is estimated to expand. However, factors like poor dental care access in underdeveloped and developing nations and a shortage of dental healthcare infrastructure in rural areas are expected to limit the growth of the global orthodontics market.

With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the orthodontics market. With less disposable income and broken supply chains, the market's growth is expected to slow down. A shortage of skilled professionals due to medical workers being shifted to covid-19 frontlines also negatively impacts the market.

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Key players operating in the global orthodontics market include DB Orthodontics, G&H Orthodontics, Henry Schein, Inc., Danaher Corporation, 3M Unitek, Align Technology, Inc., Rocky Mountain Orthodontics, American Orthodontics, and DENTSPLY International, among others. To gain a significant market share in the global orthodontics market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. One example is Align technology's geographic penetration into the Indian market, which includes the commercial availability of the "Invisalign device" in India. 3M Unitek and Danaher Corporation are some of the biggest manufacturers and suppliers of orthodontics in the global market.

Brackets is leading the market and is forecasted to grow at the highest CAGR of 9.9% over the projected timeframe

The product segment consists of ligatures, anchorage appliances, archwires, and brackets. Brackets is leading the market and is forecasted to grow at the highest CAGR of 9.9% over the projected timeframe. Due to its extensive use in fixed orthodontics, which has come to prominence, the brackets segment is expected to dominate the industry. This has resulted in considerable overall growth for this segment. Because of its improved care effectiveness, the bracket segment is also expected to rise at a steady CAGR over the forecast period.

Below 18 dominated the market and held the largest market share of 63.8% in the year 2020

Based on patient, the global market has been divided into below 18 and above 18. The below 18 dominated the market and held the largest market share of 63.8% in the year 2020. The large share of this segment is attributed to key factors such as the rising number of orthodontic procedures, rising acceptance of invisible braces, and drop in the prices of transparent aligners.

Dental clinics is leading the market and is forecasted to grow at the highest CAGR of 10.6% over the projected timeframe

On the basis of end-user, the orthodontics market has been divided into hospitals, dental clinics, and others. Dental clinics is leading the market and is forecasted to grow at the highest CAGR of 10.6% over the projected timeframe. Due to the rise in the number of standalone clinics and private practitioners, the dental clinics segment is projected to expand rapidly and dominate the industry from 2021 to 2028. The development of this sector is being aided by improved insurance reimbursement policies for orthodontic services and an increase in the number of multispecialty dental clinics.

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Regional Segment Analysis of the Orthodontics Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global orthodontics market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 41.7% in the year 2020 and is anticipated to grow throughout the projected period. Factors contributing to growth in North America include a rise in the U.S. population, particularly among the elderly, substantial technical advancements in dentistry, and increased insurance coverage by third-party companies. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2021-2028. This growth is owing to factors like bettering economic conditions, technological advancements in medical sciences, an increase in the number of affordable dental services, a high proportion of the young population, growing trend of malocclusion, and an incremental emergence of dental practice in the region. Emerging economies like India, Brazil, and China are especially lucrative, considering their growth potential. The market report covers all major countries including U.S., China, Canada, India, Germany, Japan, France, Indonesia, Brazil, U.K., Russia, Italy, South Korea, Taiwan, Australia, Thailand, Philippines, Malaysia, Vietnam, Mexico, Saudi Arabia, Turkey, U.A.E, etc.

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About the report:

The global orthodontics market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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