31 March 2022

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GIA: Orthodontic supplies to pass $8B

Katherine E. Pfaff

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The global market for orthodontic supplies is expected to attain a value of $8.2 billion in the next 4 years, according to Global Industry Analysts Inc., a market research firm. This comes after the market was impacted by COVID-19 and the estimate was revised. 

In the current year, the market is estimated at $6 billion. Growth from 2022 to 2026 is forecast at 7.4% CAGR. The supplies market domestically is valued at $2.5 billion in 2022, which is 41.62% of the overall global market.

Within the overall market, fixed braces alone are expected to grow at a CAGR of 5.4% and reach a value of $3.5 billion worldwide by 2026. While removeable braces were adjusted to an anticipated growth rate of 10% CAGR across the next 7 years. Currently, removeable braces take up 40.5% of the global orthodontic supplies market with fixed braces also taking a large share. Fixed braces typically offer a lower cost. 

Overall, the orthodontic market is forecast to grow as the awareness of options to treat various maladies increases, and the technology constantly continues to improve. The latter has allowed for faster, more efficient, provide better outcomes, and are less painful treatment options that have attracted more patients.

Source: https://www.prnewswire.com/news-releases/new-study-from-strategyr-highlights-a-8-9-billion-global-market-for-orthodontic-supplies-by-2026--301502477.html