Market Trends of Invisible Orthodontics Industry
This section covers the major market trends shaping the Invisible Orthodontics Market according to our research experts:
Clear Aligners Anticipated to Witness Significant Growth in the Market
The clear aligners segment is expected to dominate the market during the forecast period. The rising prevalence of malocclusions and growing demand for customized invisible aligners are propelling the market's growth. Similarly, increasing dental tourism is another factor in market growth. For instance, according to the article published by Dental Organization in 2021 by Amanda Napitu, Dental tourism is becoming more popular as the cost of dental care rises. Every year, hundreds of thousands of people travel abroad in search of more affordable dental care. Spain is a popular dental tourism destination, renowned for its high standards of dentistry, with prices that are up to 50-70 % lower than in the United States. Thus, increasing dental tourism is expected to increase market growth over the forecast period as cost-effective treatments for the dental disease are expected to increase the number of patients coming for dental procedures.
Furthermore, an increase in the adoption of invisible orthodontics, especially among young people, is likely to drive market growth. Clear aligners have several advantages over traditional braces, such as maintaining oral hygiene, less frequent visits to dentists, and wearing comfort, which was possible due to the customized clear aligners made using computer-aided design technology, which has increased their usage. The companies are increasing their focus on developing new and affordable products for patients with product launches and partnerships. For instance, in July 2022, Sage Dental entered into a partnership with SheepMedical, Japan's leading clear aligner manufacturer, and became the first DSO in the United States to offer KiyoClear orthodontic aligners. KiyoClear's patented aligner-expander technology. Similarly, in November 2022, Ormco Corporation launched Spark Clear Aligners Release 13 to enhance treatment planning and efficiency. Hence, the launch of advanced and novel clear aligner products leads to a surge in their demand, thereby driving the growth of the market.
Thus, the factors such as increasing product launches and partnerships are expected to increase segmental growth over the forecast period.
North America Expected to Hold Significant Market Share Over the Forecast Period
North America is anticipated to dominate the orthodontics market throughout the forecast period. Factors such as the rising prevalence of dental disease, an increasing geriatric population that require timely dental check-ups, and a well-established healthcare system are expected to be the major factors propelling the growth of the market in the region. Additionally, the American Dental Association is keen on spreading awareness among people regarding the importance of oral health and hygiene, which is likely to drive market growth. Furthermore, the rising adoption of cosmetic dentistry procedures and 3D printing technologies is supporting the growth of the invisible orthodontics market in North America. The high prevalence of dental diseases is propelling the growth of the orthodontics market globally. According to the American Dental Association, in June 2021, 85% of people were highly concerned about their dental health in the United States.
Initiatives by a public organization to increase investment is another factor in the market growth in the region. For instance, in September 2022, the Government of Canada stated that a third of Canadians currently do not have dental insurance. For this, the government committed to providing dental care for uninsured Canadians with a family income of less than USD 90,000 annually, starting with children under 12 years old in 2022. This is the first stage of the government's plan to deliver dental coverage for families with income under USD 90,000 and will allow eligible children under 12 to get the dental care they need while a comprehensive national dental care program is developed. Thus, such initiatives are expected to increase dental visits for orthodontics procedures which are expected to increase market growth over the forecast period.
Furthermore, initiatives by key market players are expected to increase market growth. For instance, in January 2021, Dentsply Sirona acquired Straight Smile LLC (BYTE), a leading provider in the direct-to-consumer, doctor-directed clear aligner market, in an all-cash deal for USD 1.04 billion. This will assist the company in strengthening its SureSmile clear aligner business and strengthen its connection with dental professionals. Similarly, in January 2021, Carbon and Candid entered into a partnership to produce accurate, efficient, and reliable models for clear aligners to straighten teeth. Furthermore, in August 2021, Equicapita Income Trust and Equicapita Investment Corp., along with BMO Capital Partners as a co-investor, launched a Canadian Dental Laboratories Limited Partnership in conjunction with the acquisition of the Protec Group of Dental Laboratories. Thus, with such initiatives, the market is expected to grow.
Thus, the increasing prevalence of dental diseases coupled with initiatives by key market players is expected to increase market growth in the region.
