The global clear aligners market is expected to gain momentum from the ongoing technological developments, training of new doctors, and rising partnerships and acquisitions. This information is given by Fortune Business Insights™ in a recent study, titled, “Clear Aligners Market Size, Share &Covid-19 Impact Analysis, By Patient Age Group (Teenager, and Adults), By End User (Hospitals, and Dental & Orthodontic Clinics), and Regional Forecast, 2020-2027.” The study further states that this market size stood at USD 2.31 billion in 2019 and is projected to reach USD 5.58 billion by 2027, thereby exhibiting a CAGR of 18.7% during the forecast period. The following market is expected to decline significantly in 2020 due to the COVID-19 impact and hence the 2020-2027 CAGR is high.
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Adults Segment to Lead Backed by Higher Cases of Malocclusion amongst This Age Group
In terms of patient age group, the market is bifurcated into adults and teenagers. Out of these, the adults segment is anticipated to dominate in the near future in terms of this market share. This growth is attributable to the increasing utilization of technologically advanced products owing to the rising incidence of malocclusion in people belonging to this age group. Additionally, the surging aesthetic demand from adults would contribute to the growth of this segment.
An Overview of the Impact of COVID-19 on this Market:
To control the spread of the novel corona virus worldwide, most nations have acquired social distancing and quarantine policies to attenuate the impact of this pandemic. Several businesses are adopting machine learning tools for analyzing the effects of these measures.
We, at Fortune Business Insights, are offering insightful data in the form of special reports on the market affected by the COVID-19 pandemic. These reports will come in handy when taking strategic decisions on investment and return revenue in the coming years.
To know more about the long-term and short-terms impacts of COVID-19 on this market, please click on this link: https://www.fortunebusinessinsights.com/industry-reports/clear-aligners-market-101377
This Report Answers the Following Questions:
- Which companies would remain in the leading position by surging sales of clear aligners?
- How are the companies trying to increase the adoption of thesealigners amongst the populaces?
- What are the crucial market trends, drivers, barriers, challenges, and opportunities?
- Which segment is expected to dominate the market by procuring the largest share?
Drivers & Restraints-
Rising Prevalence of Dental Malocclusion &Misalignment to Aid Growth
As per our research, around 60% of the total population across the globe suffer from the issues of misalignment and malocclusion of teeth. Approximately 300 million people can benefit from straightening their teeth. Apart from that, numerous factors such as negligence towards dental care and low awareness about the harmful effects of malocclusion are causinga reduction in the number oftreatment procedures to strengthen teeth. The adoption of clear aligners is very low even though almost 10-12 million people worldwide seek orthodontic treatment each year. This under usage of products is offering a significant opportunity for the companies to expand their geographic presence. They are creating awareness amongst the masses to educate them about the advantages of treating malocclusion. These factors are expected to boost the clear aligners market growth in the coming years.
How will COVID-19 Pandemic Affect This Market?
- The number of elective procedures has declined in several countries owing to the outbreak of the Covid-19 pandemic.
- Owing to the preventive measures, such as complete lockdown and stay-at-home initiatives, the dental industry in Italy and China has been impacted severely.
- In these countries, there is a reduction of around 85% to 90% in the number of elective surgeries.
- In the European countries, as well as the U.S., similar instances are taking place.
North America to Remain at Forefront Owing to Rising Usage of Novel Products
North America generated USD 1.33 billion in 2019 in terms of revenue. This region would lead the market throughout the forecast period. It would occur because of the presence of multiple reputed manufacturers in this region. Coupled with this, the rising usage of novel clear aligners by people and high investments by key companies in research and development activities would propel growth. Apart from that, the presence of well-established clinics for orthodontics, favorable reimbursement policies for dentistry, and rising clientele of general practitioners are likely to contribute to the market growth in this region. Europe, on the other hand, is set to remain in the second position on account of the increasing usage of these aligners by teenagers, as well as the rising upgradation of dental products for treatment procedures.
Key Players Focus on IntroducingUnique Products to Attract Attention of Consumers
The companies present in the market are persistently striving to gain more sales and thereby generate high revenue. To do so, they are constantly investing hefty amounts of money in research and development activities. With the help of these, they are able to launch new clear aligners in the market that are equipped with advanced technology. Below are a couple of the latest industry developments:
- January 2020: Western Dental & Orthodontics launched its latest orthodontic aligners named ClearArc. It is cost-effective and can be afforded by all. The company claims that it is much better than the conventional braces.
- June 2019: 3Shapeunveiled its new workflow infused with the 3Shape technology. It would help the production and design partners to allow practices and labs to provide clear aligner treatments to the patients.
Fortune Business Insights™ presents a list of all the manufacturers of clear aligners operating in the global market. They are as follows:
- Align Technology, Inc.
- Institute Straumann AG
- ENVISTA HOLDINGS CORPORATION
- 3Shape A/S
- Dentsply Sirona
- Argen Corporation
- Henry Schein, Inc.
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Author’s Bio –
Name: Reeti Banerjee
Reeti Banerjee is currently working as a content writer in a prominent market research firm named Fortune Business Insights™. She specializes in writing articles, press releases, blogs, and news reports. She believes in maintaining simplicity throughout her content to provide the clients with a seamless reading experience.