Product ID: SQMIG35I2156
Report ID:
SQMIG35I2156 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
61 |
Figures:
75
Global Orthodontic Supplies Market size was valued at USD 2.73 billion in 2022 and is poised to grow from USD 2.87 billion in 2023 to USD 4.28 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).
The COVID-19 pandemic worsened the Image market in 2020. Moreover, the visits of the oral medicine for SARS patients were also delayed for a minimum of one-month duration. For instance, a survey done in Brazil in May 2020 reported that out of the 395 orthodontists that answered the online poll, 66.8% have been solely handling exclusions due to the COVID-19 pandemic, while 14.2% of them shut down their clinics. However, only 19 per cent of the orthodontists gave regular orthodontic appointments. Therefore, the drop in the hospital treatment and clinics closure have pushed down the orthodontic supplies market during the pandemic. The finding of the article “Tooth Talks: The Impact of COVID-19 Shutdown on the Quality of Life and Care of Orthodontic Patients in Canada,” published in Journal of the World Federation of Orthodontists (Oct 2020) has shown that about 27.3% of the patients could not attend their appointments, and 69% were unable to get the services, and Further, most of the companies experienced a drop in the income of their orthodontics supplies segment and decease on the demand side for the products produced by these companies during the first two quarters of 2020. The reason behind this is the policy implementation and the restrictions accordingly issued by the government to restrict the spread of the pandemic COVID-19. On the contrary, the demand of the end-users stood affected due to the guidelines by the dental association to perform only emergency procedures. Thus, the COVID-19 pandemic has a good deal of influence on the market in question.
The dental journal has said that according to them, malocclusion is one of the most serious dental health problems after periodontal disease and dentine caries that occurred in October 2021. Furthermore, the prevalence of the malocclusion abundance rate is varying between 39% to 93% in children and adolescents is also estimated. Hence, the elevated malocclusions burden across the population will most probably propel the demand for orthodontics supplies like braces and aligners which is, in turn, will drive the market growth.
In addition, the key to market by industry players like partnerhips and merger and acquisitions is contributing to market growth. Dentsply Sirona also acquired Propel Orthodontics in June 2021. The acquisition will enable the company to occupy a better niche in the rapidly growing orthodontics supplies market. Hence, the analyzed market is predicted to expand because of the provided circumstances in this report. Nonetheless, regressive reimbursement policies, pa propensity for risks and complications associated with orthodontic treatments is anticipated to dim the market growth over the forecast period.
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Product ID: SQMIG35I2156