Transparency Market Research’s new market report, titled “Orthodontic Equipment and Consumables Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014—2020”, says the global orthodontic equipment and consumables market was valued at USD 6.1 billion in 2013 and is expected to grow at a CAGR of 8.8% from 2014 to 2020, to reach an estimated value of USD 11.0 billion in 2020.
Orthodontics has experienced tremendous growth in the last decade, due to new developments and rising awareness about treatment benefits. As a result, demand has increased for orthodontic equipment and consumables.
The global orthodontic equipment and consumables market is segmented into orthodontic equipment and orthodontic consumables. The dental radiology equipment market accounted for the largest market in 2013. The CAD/CAM systems segment of the global orthodontic equipment market is estimated to grow at the highest CAGR during forecast period 2014 to 2020. Accuracy provided by the CAD/CAM systems is one of the key factors supporting the growth of this market segment and adoption of these systems in orthodontics is expected to rise swiftly during the forecast period from 2014 to 2020.
The orthodontic consumables market, which includes anchorage appliances, brackets, and archwires, is also expected to see growth. The bracket segment accounted for the largest market share in 2013, due to increasing demand and advancements such as smart bracket technology. Therefore, it is estimated that the global brackets market will grow at the highest CAGR during the forecast period 2014 to 2020.
North America is leading the global orthodontic equipment and consumables market with market share of 43.0% in 2013. Availability of developed healthcare infrastructure, regulatory framework, a wide distribution network, and high rate of awareness about orthodontic treatment are driving the orthodontic equipment and consumables market in this region.
According to the report, the Asia Pacific orthodontic equipment and consumables market is expected to show significant growth during the forecast period from 2014 to 2020, thanks to rapidly developing healthcare infrastructure, rising government support, and disposable income.