3 Orthodontic Stocks To Keep An Eye On
The orthodontics industry has been undergoing drastic change led by technological breakthroughs over the last few years.
This subsegment of dental treatment entails the improvement of the arrangement and appearance of protruding, crowded or crooked teeth. It also pertains to correcting problems related to misaligned bites.
Increased consumer awareness regarding aesthetic treatment and rising business investments positions this industry well.
Per Fortune Business Insights, the global orthodontics market reached a value of $4.06 billion in 2018 and is anticipated to scale to $9.72 billion by 2026, at a CAGR of 11.6%.
Factors Driving Orthodontics Treatment Market
Rising Demand Among Teens and Children: Around 60-75% of the total global population is currently suffering from malocclusion or misaligned teeth, per a Cision Report. A recent study published in NCBI shows that only 4% of 13-15-year-old adolescents have normal occlusion with the rest having various forms of malocclusion. This indicates how children and teenagers dominate the global orthodontic market.
Growing Cosmetic Needs: Growing awareness of aesthetic needs has also been a major catalyst for the dental prosthetic market. Per Markets and Markets, the global cosmetic dentistry is expected to make $22.36 billion by 2020, at a CAGR of 6.8% during 2015-2020. Moreover, an increase in disposable income gives rise to a higher demand for cosmetic dental surgeries.
Orthodontic Treatment Spreads in Emerging Economies: Growth within the orthodontics market has been primarily led by rising focus of vendors on emerging markets, such as Asia-Pacific and LAMEA. Some of the key developing nations, which have been witnessing increasing use of orthodontics products, are China, India, Brazil, and Mexico. Better governmental programs to spread awareness about oral hygiene and modernization of healthcare technology have boosted the prospects of orthodontics treatment in these geographies.
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