According to a new market research report “Latin America Orthodontic Supplies Market by Removable & Fixed Braces (Brackets (Self-Ligating, Lingual), Archwire (Nickel Titanium, Stainless Steel), Anchorage Appliances (Buccal Tube, Band), Ligature (Elastomeric, Wire)) & Adhesives – Forecast to 2020” published by MarketsandMarkets, The market is estimated at USD 245.0 Million in 2015 and is poised to grow at a CAGR of 5.5 per cent during the forecast period, to reach USD 320.2 Million by 2020.
This report studies the Latin American orthodontic supplies market over the forecast period of 2015 to 2020 analysing and studying the major market drivers, restraints, opportunities and challenges in Latin America.
The Latin American orthodontic supplies market has been segmented into three broad segments: fixed braces, removable braces and orthodontic adhesives. The fixed braces segment is further categorised into brackets, arch wires, anchorage appliances and ligatures. The brackets market is segmented into conventional, self-ligating and lingual braces. The arch wires segment is categorised into nickel & beta titanium and stainless steel. Anchorage appliances are further segmented into buccal tubes, bands and mini screws, whereas the ligatures market is segmented into elastomeric and wire ligatures.
A number of factors such as the growing number of patients with malocclusions, lower cost of orthodontic treatment in Latin American countries as compared to other developed nations, higher concentration of orthodontic associations, decreasing trade barriers for medical devices in some Latin American countries, and rising disposable incomes are propelling the growth of the Latin American orthodontic supplies market. Moreover, growing medical tourism in Latin America, increasing adoption of orthodontic treatment and improving socioeconomic status, and rising middle class population and disposable income levels will offer significant growth opportunities for players in Latin American orthodontic supplies market.
As of 2015, Brazil holds the largest share (~30.0 per cent) of the market, owing to the rising prevalence of malocclusion, growing middle-class population, increasing number of orthodontists and rising government initiatives and support for the improvement of oral healthcare. However, Chile is expected to grow at the highest CAGR of ~6.3 per cent from 2015 to 2020 due to continuous healthcare and trade-related initiatives to raise awareness by the Chilean government and better economic landscape as compared to other countries.
The major players in the Latin American Orthodontic Supplies Market include Dental Morelli Ltda. (Brazil), 3M Unitek Corporation (US), American Orthodontics (US), DENTSPLY International, Inc. (US), Ormco Corporation (US), Orthometric (Brazil), and FORESTADENT (Germany). – PRNewswire
