Global Orthodontics Market: Overview
The global orthodontics market is prophesized to make rapid strides along its growth trajectory mainly due to increased prevalence of oral diseases. There has been a steady rise in the number of people seeking orthodontic procedures. According to the findings of a survey by American Association of Orthodontists, there was an increase of 14% of dental patients from 2010 to 2012.
Product type, region, and age group are the parameters based on which the global orthodontics market has been segmented.
Global Orthodontics Market: Notable Developments
The market has witnessed some developments in the last few years. One such significant development in the global orthodontics market is mentioned below:
- In 2019, leading American multinational, 3M Company made an announcement of enetering into an agreement for acquisition of Acelity Inc. The latter is a renowned medical technology company with focus on specialty surgical applications and advanced wound care solutions. This strategic acquisition is expected to strengthen medical solutions business of 3M Company. The product portfolio of the medical solutions business comprises orthodontics as well, which is expected to experience wider reach and technological development with this acquisition.
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Some of the key players operating in the global orthodontics market are as mentioned below:
- G&H Orthodontics
- Danaher Corporation
- 3M Company
- Henry Schein, Inc.
- Dentaurum GmbH & Co. KG
- Rocky Mountain Orthodontics Inc.
Global Orthodontics Market: Key Trends
The following factors are expected to decide the future course of the global orthodontics market during the study tenure, from 2019 to 2027.
Cosmetic Dental Procedures and Dental Tourism Accentuates Demand for Orthodontics
Technology that is utilized in the orthodontic treatment continues to make headway at an amazing speed. Dental technology of present times are very different from what it used to be some decades ago. Increasing awareness about dental health and oral care has become more of a lifestyle preference of the common people across the globe. A rise in the cases of periodontal or gum diseases together with the risk of oral cancer is likely to support the growth of the global orthodontics market in forthcoming years.
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In addition to that, an emerging trend of dental tourism adds to the development of the global orthodontics market. According to the estimates of Patients Without Borders, medical tourism guidebook, almost 800,000 Americans travel abroad for cheaper dental care solutions. The medical tourism guidebook also reports that almost half of the total medical tourists are the ones who are going abroad for dental treatments. American Association of Dentists describes this as an increasing phenomenon. Another factor that opens up new avenues for growth of the global orthodontics market is the growing popularity of cosmetic dental procedures. With an urge to look good and increased disposable income, the cosmetic dental surgeries are booming businesses.
Brackets are expected to remain a dominant product in the global orthodontics market over the period of assessment. Brackets are extremely popular among the orthodontists due to their convenience and comfort. Treatment with brackets is usually involves less time, which supports its increasing use. Furthermore, increasing cases of chronic orthodontic disorders and malocclusion are expected to accelerate the adoption rate of brackets. Increased use of brackets is anticipated to support growth of the global orthodontics market.
Global Orthodontics Market: Geographical Analysis
Middle East & Africa, Asia-Pacific, Europe North America, and Latin America are the key regional segments of the global orthodontics market.
From the geographical standpoint, Asia Pacific is expected to emerge as a leading region in the global orthodontics market. The region has emerged as a popular hub for dental tourism with Thailand and India taking the lead. Rising disposable income couple with the urge to opt for aesthetic dental procedures is foreseen to offer conducive environment for the growth of the regional market in forthcoming years.
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