The market for orthodontics supply is heading towards impressive growth. As the CAGR (Compound Annual Growth Rate) charts and upward curve, steep enough to keep the market players hooked, opportunities will arise that will be significant to stakeholders. And, to add to this, the steady growth rate will lead to improvement in the value of the market over the coming few years.
Some of the factors that are propelling growth into the global orthopedic supplies market are rise of cosmetic dental surgeries and a growing need to have the perfect denture and smile. Others include rise of geriatric population and increase in disposable incomes worldwide, and particularly in some of the developing economies which are projecting high growth rates in the respective economies.
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It is noteworthy here that the geriatric population – in the age group 65 and above – is set to see a steady rise over the coming 30 years. By 2050, one in six on a global level will fall into this age bracket. And, in North America and Europe, one in four people will fall into this bracket. It is also interesting to make note of a particular demographic shift that happened in the year 2018 and that led to the making of history in terms of population. In this year, for the first time, the number of geriatric people was higher than the number of people aged five and below. And, it is pertinent to note here that this growing population will lead to growth in the global orthodontics supplies market.
Rising disposable income in the Asia Pacific (APAC) region will create untapped opportunities which should be of interest to market players, which as per forecast, players will leave no stones unturned to make the most of.
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The market is slightly fragmented and major players in the landscape include TP Orthodontics, Inc., Dentaurum GmbH & Co. KG, G&H Orthodontics, Inc., Rocky Mountain Orthodontics, Inc., American Orthodontics, and DENTSPLY International, Inc.