The size of the Orthodontic Supplies Market in the Asia Pacific is estimated to be growing at a CAGR of 8.60% during the forecast period. The market size is estimated to be USD 1.02 billion in 2022 and USD 1.54 billion by 2027. The market is showcasing substantial growth potential in the mentioned period. It will continue to show a high CAGR in the future years with the recent developments in the medical sector.
The Asia Pacific market for orthodontic supplies is primarily driven by factors such as an increase in the number of patients with malocclusions, an increase in the popularity of cosmetic dentistry, tooth decay or tooth loss, jaw diseases, and jaw pain, increased consumer awareness of advanced orthodontic treatments, and an increase in the disposable income of the growing middle-class population. In addition, an increase in the number of persons suffering from oral injuries due to mechanical falls and accidents is leading to an increase in malocclusion instances. Malocclusion has a detrimental influence on dentofacial aesthetics and psychological self-confidence, as well as everyday living. During the forecast period, governments' attempts to raise awareness about orthodontic treatments and the increased availability of advanced orthodontic supplies in the market are expected to drive demand for orthodontic supplies. Orthodontists specialize in detecting, preventing, and repairing tooth abnormalities.
Vendors in this market are expected to benefit from new opportunities in the Asia Pacific, which is home to almost half of the world's population and has a significant unmet need for orthodontic treatment and rising demand for cosmetic orthodontic treatment among adults and teens. Players in the orthodontic supplies market could expect considerable growth opportunities in emerging economies like China and India. The existence of a large patient population and the increased focus of governmental and private organizations on promoting knowledge about orthodontic treatments and oral hygiene are driving growth in these markets. In addition, the use of 3D printing technology allows for the creation of personalized braces for each patient. This is significant since it reduces the number of orthodontic clinic visits for braces adjustments. These advancements will likely open up a wide variety of opportunities for companies in the orthopedic supplies market to grab a big customer base. Because of the rising incidence of various types of dental issues such as teeth irregularity, malocclusion, and others, the adoption of orthodontics supplies is projected to expand in the near future.
Despite the availability of a large target patient group, a shortage of dentists and a lack of advanced orthodontic training among dentists are likely to restrict the adoption of the orthodontic supplies market in this region. Furthermore, the number of monthly appointments at dental clinics has decreased due to restricted or limited access to dental clinics, temporary closure of hospitals, and severe lockdown during this pandemic. This resulted in even lower orthodontic product sales. Unfavorable reimbursement policies, indifference toward dental care, high costs of advanced procedures, problems related to orthodontic treatments, and restricted insurance coverage for orthodontic treatments are just a few of the challenges that the Asia Pacific orthodontic supplies market faces.
This research report on the APAC orthodontic supplies market has been segmented and sub-segmented based on the following categories:
Geographically, the Asia Pacific market is expected to grow at the highest CAGR among all the other regions due to the growing attention paid to its rising countries due to increased interest from worldwide dental and orthodontic firms. In addition, expansion of healthcare infrastructure and disposable personal income and an increase in the number of patients with tooth decay are expected to boost the orthodontic supplies market in the area. Furthermore, the development of small producers in the orthodontic supplies industry and a growing focus on aesthetics goods among adults are driving expansion.
The Chinese orthodontic supplies market is predicted to occupy the biggest share in APAC during the forecast period. Large patient pool, rising number of dentists, supporting healthcare reform in China, and expanding presence of important companies in the nation account for China's greatest share. In addition, the expanding elderly population, significant technology developments, and growing medical tourism in countries like South Korea, India, and China are projected to drive the highest CAGR in Asia-Pacific.
KEY MARKET PLAYERS:
Align Technology Inc., Danaher Corporation, Henry Schein, Inc., DENTSPLY International, Inc., Dentaurum GmbH & Co. KG, and TP Orthodontics, Inc. are some of the other key players in the APAC orthodontic supplies market.
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