Orthodontics Market Growth Accelerated By Rising Prevalence Of Orthodontic Diseases

Orthodontics Market 

Orthodontics involves the use of braces, wires, retainers, and other dental devices to align crooked teeth and correct jaw problems like underbites and overbites. The orthodontics market demand is driven by the rising prevalence of orthodontic diseases owing to changing lifestyle habits and rising consumer spending power for dental care. The global orthodontics market is estimated to be valued at US$ 5.06 Bn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising prevalence of orthodontic diseases is one of the key factors responsible for driving the orthodontics market growth. Malocclusion or misaligned teeth are some of the most common orthodontic problems faced by people across the globe. According to the American Association of Orthodontists (AAO), about 60-65% of children and adolescents have some level of malocclusion in the United States. Improper teeth alignment can cause issues like temporomandibular joint disorders (TMD), excessive tooth wear, periodontal diseases, and speech problems if left untreated. Thus, the growing awareness regarding orthodontic treatments and surgeries to correct such conditions is expected to boost the global market during the forecast period.

Segment Analysis

The global orthodontics market is dominated by the brackets sub-segment, which holds around 60% market share. Brackets are the most common orthodontic component used as they apply the desired forces on teeth to achieve the intended tooth movement. Brackets are available in different materials like metal, ceramic and plastic and come in a variety of prescriptions to address different malocclusion conditions.

Key Takeaways

The global Orthodontics Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. Rising awareness about the aesthetics of oral health and growing number of teenagers and adults opting for orthodontic treatment are some of the major factors expected to drive market growth.

Regional analysis: North America region currently dominates the global orthodontics market. Higher dental expenditure, growing prevalence of malocclusion cases, availability of advanced treatment options and favorable reimbursement scenario have made North America a leader in the orthodontics market. Asia Pacific region is expected to emerge as the fastest growing regional market. Rapidly growing middle and upper middle class segment along with improving healthcare infrastructure in developing countries like India and China provides immense growth opportunities.

Key players operating in the orthodontics market are J.P. Morgan Treasury Services, Bank of America Merrill Lynch, Citibank, Wells Fargo, HSBC Global Banking and Markets, BNP Paribans, Deutsche Bank, PNC Bank, Barclays, U.S. Bank. J.P. Morgan Treasury Services holds the highest market share in orthodontics market due to its widespread geographical presence and strong brand recognition.