Orthodontic Supplies Global Market Report 2024: Projected Growth Rate and Market Size As Per The Business Research Company’s Orthodontic Supplies Global Market Report 2024
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LONDON, Jan. 25, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Orthodontic Supplies Global Market Report 2024, the orthodontic supplies market has witnessed robust growth, and this trend is expected to continue in the coming years. According to the latest Global Market Report, the market size is anticipated to surge from $5.78 billion in 2023 to $6.31 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 9.2%. This growth is attributed to increased demand for aesthetic dentistry, growing awareness of dental health, material science advancements, expanding dental tourism, orthodontic innovations, and diverse product offerings.
Anticipated Growth and Emerging Trends
The forecast for the orthodontic supplies market remains highly promising, with an expected expansion to $8.89 billion in 2028 at a CAGR of 8.9%. The growth in the forecast period is driven by factors such as the rise in orthodontic treatment for adults, technological integration in treatment planning, emphasis on minimally invasive orthodontics, and a global increase in orthodontic awareness. Key trends in the forecast period include the integration of artificial intelligence, customization in bracket designs, emphasis on biocompatible materials, orthodontic monitoring apps, and sustainability practices in manufacturing.
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Aging Population Boosts Market Growth
The rising aging population is expected to be a significant factor propelling the growth of the orthodontic supplies market. With the global proportion of individuals aged 60 and older projected to double, reaching 2.1 billion by 2050, orthodontic supplies are increasingly vital in addressing age-related dental issues and providing solutions for misalignment and malocclusion in the elderly population.
Stakeholders’ Utilization of the Market Report
This comprehensive orthodontic supplies market report offers valuable insights for various stakeholders in the healthcare industry. Dentists, orthodontists, manufacturers, investors, and policymakers can leverage this report to make informed decisions. The detailed analysis of market trends, growth projections, and emerging opportunities empowers stakeholders to strategize effectively and stay ahead in the dynamic orthodontic supplies market.
Major Companies and Innovations
Leading companies in the orthodontic supplies market include 3M Company, Dentsply Sirona Inc., Align Technology Inc., and more. These companies are focused on developing innovative devices, such as direct bond orthodontic appliances, to enhance efficiency and maximize market share.
For instance, American Orthodontics recently launched the Universal PowerBar, a fixed, direct bond functional orthodontic appliance designed for efficient Class II correction, showcasing the industry’s commitment to innovation and patient care.
Regional Insights
In 2023, North America emerged as the largest region in the orthodontic supplies market, while Asia-Pacific is anticipated to be the fastest-growing region in the forecast period.
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Market Segmentation
The orthodontic supplies market report covers key segments, including product type, patient demographics, materials, and end-users.
- Product Types: Fixed Braces, Removable Braces, Orthodontic Adhesives, Other Products
- Patient Demographics: Children And Teenagers, Adults
- Materials: Metal And Traditional Brackets, Ceramic And Aesthetic Brackets, Archwires, Anchorage Appliances, Ligatures
- End Users: Hospitals And Dental Clinics, E-Commerce Platforms, Other End-Users
The detailed orthodontic supplies market report serves as an invaluable tool for industry participants seeking to navigate the evolving landscape of orthodontic supplies.
Orthodontic Supplies Global Market Report 2024 by The Business Research Company provides insights on the orthodontic supplies market size, orthodontic supplies market segments, orthodontic supplies market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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