by Orthodontics Market is estimated to witness high growth owing to increasing prevalence of dental malocclusion and rising demand for cosmetic dentistry. The market is estimated to be valued at US$ 5.23 billion in 2023 and is expected to exhibit a CAGR of 6.94% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Orthodontics Market involves the diagnosis, prevention, and treatment of dental malocclusion, which is the misalignment of teeth and jaws. Orthodontic products such as braces, aligners, and retainers are used to correct the position of teeth, improve oral health, and enhance aesthetics. These products are commonly used by individuals with crooked or crowded teeth, overbite, underbite, or crossbite. The growing awareness about dental health and the increasing focus on personal appearance have led to a surge in the demand for orthodontic treatments. The market offers various options for orthodontic treatment depending on the severity of thae malocclusion and patient preferences.
Market Dynamics:
The Orthodontics Market Size is driven by factors such as the increasing prevalence of dental malocclusion, rising disposable income, growing dental tourism, and advancements in orthodontic technology. The demand for orthodontic treatments is expected to grow due to the rising awareness about oral health and aesthetics. Additionally, the availability of a wide range of treatment options, such as metal braces, ceramic braces, lingual braces, and clear aligners, allows patients to choose the most suitable option for their needs. Furthermore, increasing investments in research and development activities for the development of innovative orthodontic products and techniques are expected to fuel market growth. On the other hand, the high cost of orthodontic treatments and the lack of reimbursement policies in some regions may hamper market growth to some extent. Overall, the Orthodontics Market presents lucrative opportunities for market players in the
Segment Analysis:
The orthodontics market can be segmented based on product type, patient age group, and end user. Among these segments, the product type segment dominates the market. This is due to the increasing demand for braces and aligners for correcting dental irregularities and improving oral health. Braces, in particular, are the most commonly used orthodontic product, accounting for a significant market share. This is because braces are highly effective in treating dental malocclusions, such as overcrowding, overbite, and underbite. Moreover, advancements in orthodontic technology have led to the development of innovative and aesthetically pleasing braces, further driving their demand. The product type segment is expected to continue dominating the market during the forecast period.
PEST Analysis:
Political: The orthodontics market is influenced by governmental regulations regarding dental healthcare, such as licensing requirements for orthodontists and quality standards for orthodontic products.
Economic: The market is driven by factors such as increasing disposable income, growing awareness about oral health, and the availability of orthodontic treatment options at various price points.
Social: Social trends, such as the desire for straight teeth and an attractive smile, are driving the demand for orthodontic treatments. Additionally, the rising awareness about the importance of early orthodontic interventions in children is also contributing to market growth.
Technological: The orthodontics market is witnessing advancements in technology, such as the adoption of CAD/CAM systems for orthodontic treatment planning and the development of digital orthodontic solutions, including 3D printing technology.
Key Takeaways:
The global orthodontics market is expected to witness high growth, exhibiting a CAGR of 6.94% over the forecast period of 2023 to 2030. This growth is primarily driven by increasing awareness about oral health and the rising demand for aesthetic orthodontic treatments. The market is also influenced by the availability of advanced orthodontic technologies and the increasing disposable income of the population.
In terms of regional analysis, North America is the fastest-growing and dominating region in the orthodontics market. This is attributed to factors such as the high prevalence of dental disorders, the presence of technologically advanced healthcare infrastructure, and the increasing adoption of orthodontic treatments in the region.
Key players operating in the orthodontics market include 3D Systems Corporation, 3M Company, 3Shape A/S, Align Technology, Inc., Bernhard Förster GmbH, Carestream Dental, LLC, and American Orthodontics Corporation, among others. These key players are focused on product innovation, strategic collaborations, and mergers and acquisitions to strengthen their market position and cater to the growing demand for orthodontic products and services.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
