How big is Invisible Orthodontics Market ?
Market Research Future (MRFR), in its recent report, asserts that the already booming global Invisible Orthodontics Market is anticipated to reach USD 4.61 Billion by 2030 at 11.90% CAGR during the forecast period 2022-2030. Additionally, factors such as the dramatically evolving dentistry and increasing product launch in the market foster market growth.
The global invisible orthodontics market is growing pervasively. The market growth majorly attributes to the rising popularity of clear aligners. Invisible orthodontics have been around for years, but they have significantly evolved over recent years, demonstrating fabulous results in teeth straightening. Among various factors, teledentistry plays a causal role in market development by offering a less costly and more convenient alternative to traditional dental care.
Due to lockdown implemented to control the COVID 19 spread, people are increasingly adopting teledentistry to straighten teeth at home comfort. And, the technology is providing uninterrupted services even during the coronavirus crises. Resultantly, the invisible orthodontics market is expected to witnesses a steady increase during the lockdown period as well.
Moreover, the growing cases of dental diseases and inclination towards the correction of teeth deformities are escalating the growth of the market to furthered height. The growing focus of public and private organizations on catering to changing needs of customers influence the penetration of the invisible orthodontics substantially. Besides, the increasing support by regulatory authorities, in terms of investment and product approvals, is a significant growth propeller for the market. Conversely, high costs of invisible orthodontics are estimated to restrict the market growth. Also, the emerging grey market for dental distribution, involved in illegal selling of low cost, poor quality products is hampering the growth of the market. Besides, poor compliance of patients with dentists’ instructions would inhibit the market growth, leading to other complications of using these products.
Competitive Landscape:
The global Invisible Orthodontics Market Players for invisible orthodontics would gain substantially from the participation of several companies like Align Technology, Inc. (US), 3M (US), ClearPath Healthcare Services (US), Clarus Company (US), Dentsply Sirona (US), Institut Straumann AG (Switzerland), Danaher Corporation (US), Henry Schein, Inc. (US), DynaFlex (US), and Ormco (US). These companies are investing substantial time behind forming a decent market strategy that would often rely on mergers, collaborations, hike in investment for research projects, better marketing strategy to launch innovative products, acquisitions, and others. These factors would back market growth.
Market Segmentation
The global invisible orthodontics market has been segmented by MRFR in their report on the same to gauge how the market would project itself in the coming years. This growth would be backed by inputs that can come in handy for companies who are planning to devise strategic moves. The segmentation includes product type, age group, and application.
By product type, the global market for invisible orthodontics can be segmented into clear aligners, braces, and clear retainers. The clear aligners segment includes hard, medium, and soft. The clear aligner segment is projected to retain the global market.
By age group, the invisible orthodontics market can be segmented into below 15, 16-35, and above 35. The increasing middle-class population and their growing awareness would help the market gain profits.
By application, the market can be segmented into excessive spacing, crowding, abnormal eruptions, malocclusion, and others.
Regional Analysis:
North America would be the leading region in the Americas. This would be possible due to its superior healthcare infrastructure in countries like the US and Canada. Both these regions are known for their extensive focus on the inclusion of the latest technologies to ensure their people get the best treatments in various clinics and hospitals. Also, the level of awareness regarding the products is quite high. This is further getting backed by high disposable income.
In Europe, this growth would get backed by countries like Hungary where dental tourism is getting thrust. The regional growth would be high as the market would build up its prospects on the growing awareness among the people and better investment scopes. In the Asia Pacific region, a massive patient pool and high investment plans would trigger better growth. People would also benefit from initiatives to ensure more awareness. Countries like China and India, where the majority of the population reside, would dominate the regional market scenario.
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