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Invisible Orthodontics Market to Gain US$ 7,259.6 Million by 2026, Says TMR
ALBANY, New York, March 11, 2019 /PRNewswire/ -- Transparency Market Research (TMR) has published a new report titled 'Invisible Orthodontics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.' According to the report, the global invisible orthodontics market was valued at US$ 2,149.4 Mn in 2017 and is projected to expand at a CAGR of 14.7% during the forecast period from 2018 to 2026. The global market is anticipated to be driven by a rise in the population suffering from malocclusion, rapid utilization of clear aligners in developed regions, and increase in awareness campaigns by industry players. The invisible orthodontics market in Asia Pacific is expected to expand at a high CAGR of 15.8% due to a rise in the target patient pool and rise in awareness about clear aligners in emerging countries such as India and China.
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Camouflaging with the Interior of the Mouth, Clear Aligners Witness Maximum Uptake
Across the world, rising prevalence of malocclusion is a key factor driving the invisible orthodontics market. Malocclusion, commonly known as teeth irregularity, is the second-leading dental disorder worldwide after periodontal disease and tooth decay. According to statistics, malocclusion is present in almost 75% of the population globally. Due to wide availability and favorable dental insurance, almost 10 million people in developed countries opt for orthodontic treatment across the world. Individuals in these countries undertake treatment for few types of malocclusion. This includes cross bite, crowded teeth, under bite, and open bite.
Some of the key invisible orthodontics products are clear aligners, lingual braces, and ceramic braces. Clear aligners, among all, display the leading demand owing to several advantages over conventional braces. Clear aligners offer advantages of easy removability, ease of use, virtually invisible, and offer a high degree of comfort to patients with misaligned teeth. The demand for clear aligners is likely to expand, as individuals in emerging economies are likely to increasingly undertake teeth alignment correction procedures.
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Teenagers, among all age groups display the leading demand for orthodontic procedures. A high consideration for look and appearance, and the desire to have the perfect smile is driving demand for orthodontics from this age group. Not only this, teenagers prefer invisible orthodontics as they camouflage with the interior of the mouth.
Collaborations between Product Manufacturers and TV Channels boosts Market
Rising advertising campaigns and promotions offered by product manufacturers is driving the uptake of orthodontic procedures. For successful outcomes of advertising campaigns, product manufacturers are also collaborating with TV channels for a wider audience outreach. For example, Align Technology Inc., entered into a collaboration with Awesomeness TV to create a series of custom short films on invisible clear aligners. The objective of the collaboration is to reach out to the teen audience and promote its brand Invisalign. Such collaborations are acting in favor of the global invisible orthodontics market.
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Asia Pacific Market to Witness Strong Growth and Create High Incremental Opportunity
In terms of region, the global invisible orthodontics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a leading share of the global market during the forecast period, owing to an increase in orthodontic cases as well as rapid utilization of clear aligners among orthodontists and patients in the U.S. Europe is anticipated to account for a significant share of the global market between 2018 and 2026, owing to the presence of local manufacturers offering advanced orthodontic appliances used for the treatment of malocclusion. The market in Asia Pacific is likely to expand at a rapid pace in the next few years. Presence of a large target patient pool with misaligned teeth in countries such as India and China and a rise in demand for esthetics are expected to provide lucrative opportunities to the market in the near future. Moreover, an increase in penetration of leading players in these countries is further anticipated to propel regional growth. For instance, in January 2019, Institut Straumann AG entered into a partnership agreement with Tianjin ZhengLi Technology Company Limited, China, in order to cater to the target patient pool in China by developing enhanced solutions in esthetic dentistry.
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Growth Strategies by Key Market Players
Key players profiled in this report are Institut Straumann AG (ClearCorrect), 3M, Dentsply Sirona, Align Technology Inc., Henry Schein, Great Lakes Dental Technologies, Danaher Corporation (Ormco Corporation), SCHEU-DENTAL GmbH, K Line Europe GmbH, and TP Orthodontics. Companies operating in the global invisible orthodontics market focus on strategic mergers, acquisitions, and partnerships along with innovative product launches to expand product offerings and strengthen market foothold. For instance, in March 2018, Dentsply Sirona acquired OraMetrix, an industry provider of 3D technology solutions for orthodontic care. The acquisition enables Dentsply Sirona to expand its orthodontics business unit with a focus on clear aligner solutions.
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