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Global Orthodontic Wax Market 2024 : Trends, Business Growth And Major Driving Factors
Orthodontic Wax Global Market Report 2024
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According to The Business Research Company's, The orthodontic wax market size has grown strongly in recent years. It will grow from $1.09 billion in 2023 to $1.16 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increase in prevalence of malocclusion and orthodontic issues, growth in awareness of dental aesthetics, increase in favorable reimbursement policies, and expansion of dental clinics and orthodontists.
The orthodontic wax market size is expected to see strong growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to growing orthodontic market, increasing customization in dental products, rising consumer awareness and education, increasing healthcare infrastructure development, and rising regulatory compliance. Major trends in the forecast period include technological advancements in orthodontic materials and techniques, advancements in orthodontic treatments, development of low-toxicity orthodontic waxes, innovations in orthodontic wax formulations, and advancements in aesthetic orthodontic appliances.
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Market Drivers and Trends:
The prevalence of dental issues is expected to propel the growth of the orthodontic wax market going forward. Dental issues encompass a range of problems that affect the teeth, gums, and overall oral health. The prevalence of dental issues is due to genetic factors, modern dietary habits, childhood oral habits, early loss or delayed eruption of teeth, chronic mouth breathing, increased awareness, and better access to dental care. Orthodontic wax is primarily used to alleviate discomfort caused by braces or other orthodontic appliances during dental issues by creating a barrier between these appliances and the sensitive tissues, reducing friction and preventing or soothing irritation. For instance, according to the National Board of Health and Welfare, a Sweden-based government agency, in 2023, approximately 3.94 million individuals aged 24 and older sought dental care, which includes 2.11 million women and 1.82 million men, marking a slight increase from 2022. Therefore, the increasing prevalence of dental issues is driving the Orthodontic Wax market.
Major companies operating in the orthodontic wax market are focusing on developing innovative products, such as professional dispensing packs to enhance convenience and hygiene for orthodontic patients. Professional dispensing packs offer a convenient and cost-effective method for orthodontic and dental practices to distribute high-demand patient product samples. For instance, in July 2022, Doc Brands, Inc., a US-based consumer goods company, launched OrthoDots CLEAR and OrVance Retainer Cleaner in professional dispensing packs. OrthoDots CLEAR is a moisture-activated silicone dental wax alternative to relieve pain and irritation caused by braces, clear aligners, and other orthodontic appliances. OrVance Retainer Cleaner is a specialized product designed to thoroughly clean and maintain orthodontic retainers, aligners, and other dental appliances. It is ideal for those who want to keep their orthodontic appliances in top condition, ensuring both cleanliness and comfort during use.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
3M Company, Colgate-Palmolive Company, Henry Schein Inc., Patterson Companies Inc., Dentsply Sirona Inc., Great Lakes OrthodonticsLtd., Ultradent Products Inc., Coltene Holding AG, Ormco Corporation, American Orthodontics Corporation, Dentaurum GmbH & Co. KG, TP Orthodontics Inc., RMO Inc., GC Corporation, Forestadent Ltd., G&H Orthodontics Inc., Ortho Technology Inc., DB Orthodontics Limited, Bracon Direct Ltd, Reliance Orthodontic Products Inc., Carmel Industries, Hager Worldwide Inc., C.J. Robinson Company Inc., Leone SpA, JJ Orthodontics Pvt.Ltd.
Orthodontic Wax Market 2024 Key Insights:
• The orthodontic wax market size is expected to see strong growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Rising Prevalence of Malocclusion and Orthodontic Issues Fuels Growth in the Orthodontic Wax Market
• Innovations in Orthodontic Wax Packaging
• Europe was the largest region in the orthodontic wax market in 2023
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