The Orthodontic Supplies Market in Latin America is growing from USD 0.32 Billion in 2022 to USD 0.46 Billion by 2027, growing at a CAGR of 7.3% from 2022 to 2027.
Orthodontic treatment improves the appearance and alignment of crooked and protruding teeth and the teeth' bite-related problems. In addition, orthodontic brackets are used to treat teeth misalignment, operating for years.
The key drivers of the Latin American orthodontic supplies market are the rising prevalence of target disorders and oral diseases. Also, increasing focus on healthcare technological advancements to create new and innovative products and a growing necessity for minimally invasive surgery is the key market growth. In addition, expanding public knowledge of modern orthodontic treatment options and increased disposable incomes are expected to drive the Latin American orthodontic supplies market. Transparent aligners have a higher demand than traditional wires and brackets because they offer several advantages over the latter, including patient compliance, teeth staining, cleanliness, and convenience.
Furthermore, throughout the anticipated period, the market is expected to be fuelled by ongoing research and technological developments in orthodontic products and an increase in the occurrence of malocclusions. The key market players in the region are increasingly focusing on strategic initiatives to strengthen their presence in new sectors and gain access to many clients to capitalize on massive growth potential. The utilization of 3D printing technology allows each patient to have personalized braces. This is significant since it cuts down the number of visits to the orthodontic clinic for brace changes. In addition, these changes are expected to provide a wide range of chances for LATAM orthodontic supplies procedures to gain a vast customer base.
However, Risks and effects during or after orthodontic procedures and insufficient payment coverage for orthodontic treatments limit the market growth. Furthermore, the hefty costs of current orthodontic procedures may impede the market's growth even more. In addition, inadequate reimbursement coverage for orthodontic procedures is expected to limit the development of the Latin American orthodontic supplies market.
This research report on the Latin America orthodontic supplies market has been segmented and sub-segmented based on the following categories.
Geographically, the Latin American orthodontic supplies market is projected to record a moderate share in the global market during the forecast period. The market growth is attributed to the increase in the number of orthodontists, the growing number of training and development programs on orthodontics treatment, an increase in disposable income. In addition, lower orthodontic treatment costs in Latin America, a greater concentration of orthodontic associations, lower trade barriers for medical devices in some Latin American countries, and rising disposable incomes in Brazil, Mexico, and Chile are all factors contributing to the growth of the Latin American orthodontic supplies market. Therefore, the significant growth contributors in the region are Brazil, Mexico, and Argentina.
In 2020, the Brazilian orthopedic supplies market had the largest share of the Latin American market. The orthodontic supplies market in Brazil is growing for a range of factors. For example, a growing middle-class population, an increase in orthodontics treatment, training, and development programs, and a growth in government initiatives and support for enhancing oral healthcare in the country.
The Mexican orthopedic supplies market is likely to grow at a rapid CAGR during the forecast period. The Mexican government's healthcare and trade-related actions and the country's better economic situation contribute to the LATAM orthodontic supplies market in the region. In addition, increasing government initiatives and support for improving oral health care in the country are expected to influence market growth positively.
KEY MARKET PLAYERS:
Align Technology Inc., Danaher Corporation, Henry Schein, Inc., DENTSPLY International, Inc., Dentaurum GmbH & Co. KG, and TP Orthodontics, Inc. are a few significant companies operating in the Latin America orthodontic supplies market.
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