The surging prevalence of oral diseases, increasing disposable income, and technological developments in orthodontic products are some of the key factors driving the growth of the orthodontic supplies market. In 2016, the market generated a revenue of $3.4 billion, and it is predicted to attain a size of $5.9 billion by 2023, advancing at a CAGR of 8.3% during 2017–2023 (forecast period). Orthodontic supplies refer to instruments that help in improving the appearance and aligning protruding, crooked, and crowded teeth.
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Based on end user, the orthodontic supplies market is bifurcated into adults and children & teenagers. Of these, during the 2013–2016 period, children & teenagers led the market in terms of revenue, and they are predicted to continue leading it during the forecast period. It has been witnessed that orthodontic treatments are more successful and effective in children and teenagers. In addition, correction at an early age also prevents the development of serious problems, thereby resulting in a significant adoption of orthodontic supplies at this stage of life.
Furthermore, owing to the increasing incidence of oral diseases, the demand for orthodontic supplies is surging. Some of the most common oral diseases are dental cavities, oral cancer, periodontal diseases, and malocclusions. As per the World Health Organization, 60.0% to 90.0% of the school children and a majority of adults develop dental cavities. It has also been witnessed that 15.0% to 20.0% of adults aged between 35 years and 44 years suffer from severe periodontal (gum) disease.
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This post was originally published on Financial Sector