Orthodontics is a practice for correction of abnormal alignment of teeth using braces. Orthodontic treatment was initially preferred for children below 15 years to 18 years of age owing to social stigma associated with the appearance of a person undergoing the treatment. With technological advancements, many orthodontic appliances such as lingual and tooth colored braces are commercially available, which have successfully reduced the stigma associated with the treatment. In addition, perpetually rising awareness about the orthodontic treatment and related benefits is resulting in increased adoption of orthodontic treatment among adult population.
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Global orthodontic equipment and consumables market is categorized as equipment and consumables. In 2013, the orthodontic equipment segment accounted for the largest share owing to rising preference for cosmetic dentistry coupled with technological advancements. Dental radiology equipment segment accounted for the largest share in terms of market revenue in 2013. Dominance of this product segment was majorly due to introduction of advanced digital radiography equipment coupled with high cost of the equipment. The global orthodontic consumables segment is expected to grow at the highest growth rate during the forecast period from 2014 to 2020. Of which, self-ligating brackets segment is anticipated to have a healthy growth during the forecast period owing to incessant launch of new brackets with advance technologies. For instance, SL3 Bracket, In-Ovation C, SmartClip and others are some of the commercially available brackets.
Geographically, North America and Europe accounted for the largest market share in the global orthodontic equipment and consumables market. Factors such as availability of orthodontic associations and organizations that promote use of orthodontic treatment coupled with wide distribution network are resulting in the growth of the overall orthodontic equipment and consumables market in North America and Europe.
Further, reimbursement coverage, high disposable income, availability of highly advanced technology and high rate of awareness about the orthodontic treatment are some of the factors that are fueling the growth of orthodontic treatment and consumables market in North America and Europe. Asia Pacific orthodontic equipment and consumables market is expected to grow at the highest CAGR during the forecast period from 2014 to 2020. Factors such as rising awareness about orthodontic treatments, availability of the treatment at cheaper rates and rising healthcare expenditure are expected to spur the growth of orthodontic equipment and consumables market in Asia Pacific. China and India are the most lucrative markets in Asia owing to rapidly developing healthcare infrastructure, government initiatives and availability of advanced orthodontic technologies. In addition, availability of skilled orthodontists and supportive economy are expected to fuel the growth of the orthodontic equipment and consumables market in India and China.
The global orthodontic equipment and consumables market is dominated by few major players. DENTSPLY International, Inc., A-Dec, Inc., Patterson Companies, Sirona Dental Systems, Inc., Danaher Corporation among others are some of the key players having presence in the global orthodontic equipment and consumables market. These key players are majorly adopting mergers and acquisitions and research and development as the strong growth strategies to expand their geographic presence and introduction of innovative products in the market. For instance, Sirona Dental Systems, Inc. focuses on the development of innovative products by allotting significant amount of its revenue for research and development activities. The company invested around USD 60 million for research and development activities.
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