The orthodontics market is estimated to be valued at USD 6597.39 million by 2026, growing at a CAGR of 14.15% during the forecast period 2020–2026. The report provides an in-depth analysis of the global orthodontics market with a special focus on pre- and post-COVID-19 impact. Orthodontics is a branch of dentistry that deals with the diagnosis, correction, and prevention of dental and facial irregularities. The global orthodontics market is growing due to the rising prevalence of dental anomalies, increasing awareness about dental aesthetics, and technological advancements in orthodontic treatment methods.
Market Overview
The global orthodontics market is flourishing with a CAGR of around 6.5% during the forecast period of 2020-2025. The rising awareness about dental aesthetics and the growing demand for minimally invasive treatments are among the major driving factors for the growth of this market.
However, the outbreak of COVID-19 has had a significant impact on the orthodontics market. The pandemic has resulted in a decrease in the number of dental procedures being performed due to the closure of dental clinics and hospitals. This has led to a decline in revenue for many orthodontic manufacturers and suppliers.
Looking forward, the orthodontics market is expected to gradually recover from the impact of COVID-19 over the coming years. The increasing prevalence of dental problems and the growing demand for advanced orthodontic treatments are expected to drive market growth in the future.
Market Drivers
The global orthodontics market is primarily driven by the increasing awareness of dental aesthetics, the rising disposable incomes, and the availability of advanced orthodontic treatments. The growing popularity of social media platforms has also played a significant role in driving the growth of the market as it has led to an increased focus on physical appearance. Furthermore, the advent of new technologies such as clear aligners and self-ligating braces has made orthodontic treatment more affordable and accessible, thus fuelling market growth.
However, the COVID-19 pandemic has had a negative impact on the orthodontics market as elective procedures have been postponed or cancelled due to the outbreak. This has resulted in a decrease in demand for orthodontic products and services. Moreover, disruptions in the supply chain have also adversely affected market growth.
Market Restraints
There are several market restraints that are impacting the global orthodontics market. The COVID-19 pandemic has resulted in a decrease in the number of dental procedures being performed, which has had a negative impact on the market. In addition, the high cost of orthodontic treatment is another major restraint. Many people cannot afford to pay for treatment, which limits the growth of the market.
Porters Five Force Analysis
Porter’s Five Force Analysis is a framework that helps analysts understand the level of competition in an industry and take steps to improve a company’s position. It is especially useful for companies that are considering entering a new industry or market.
The analysis takes into account five forces that can affect a company’s profitability:
- Competitive rivalry
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of substitutes
- Threat of new entrants
Competitive rivalry
The orthodontics market is highly competitive, with many established players vying for market share. New entrants may find it difficult to gain a foothold in the market due to the high level of competition.
Bargaining power of buyers: Buyers have significant bargaining power in the orthodontics market as there are many alternative products available. This gives buyers the ability to drive down prices and demand higher quality products.
Bargaining power of suppliers: Suppliers have limited bargaining power in the orthodontics market as they are dependent on manufacturers for their products. This gives manufacturers considerable control over supplier prices.
Threat of substitutes: There is a low threat of substitutes in the orthodontics market as there are no close substitute products available. This gives Orthodontic companies considerable pricing power.
Threat of new entrants: The threat of new entrants is low in the orthodontics market as it requires
Market Segmentation
Orthodontics is a branch of dentistry that deals with the correction of malaligned teeth and jaws. It is a rapidly growing market with a high potential for growth in the future. The global orthodontics market was valued at $6.4 billion in 2019 and is expected to grow at a CAGR of 6.1% from 2020 to 2027.
There are two main types of orthodontic treatments: braces and clear aligners. Braces are the traditional method of treatment, while clear aligners are the newer, more popular option. Both have their own pros and cons, but overall, clear aligners are more comfortable and less visible than braces.
The global orthodontics market is segmented by type, product type, end-user, and geography.
By type, the market is further divided into metal braces, ceramic braces, invisible braces, Damon System braces, and self-ligating braces. Among these segments, metal braces held the largest share in 2019 due to their low cost and wide availability. However, ceramic braces are expected to grow at the fastest CAGR during the forecast period as they are less visible than metal braces and cause less irritation to the gums.
By product type, the market is classified into brackets & bands, archwires & ligatures , wires & tubes , bonding agents & adhesives , retainers , positioners & spacers , springs , power chains
Geographical Analysis
The global orthodontics market is expected to grow at a CAGR of around 6.4% during the forecast period of 2020 to 2025. The market was valued at USD 8.37 billion in 2019 and is expected to reach USD 11.39 billion by 2025.
Orthodontics is a branch of dentistry that deals with the diagnosis, prevention, and correction of malposition teeth and jaws. Orthodontic treatment can improve the appearance, function, and health of the teeth, gums, and bite. It can also help prevent serious dental problems that may occur later in life.
The rising prevalence of dental anomalies, such as tooth crowding, misalignment, and malocclusion, is the major factor driving the growth of the orthodontics market. In addition, the increasing number of cosmetic procedures, such as teeth whitening and veneers, is another factor fueling market growth. Furthermore, technological advancements in orthodontic devices and techniques are providing new growth opportunities for the market.
However, the high cost of orthodontic treatments and lack of dental insurance coverage are restraining factors for market growth. Moreover, the risk of complications associated with orthodontic treatments is another challenge faced by the industry.
Competitive landscape
The global orthodontics market is growing at a rapid pace and is expected to reach USD 8.57 billion by 2025 from USD 5.75 billion in 2020, at a CAGR of 9.0%. The major players operating in the global orthodontics market are Modern Orthodontics (India) Align Technology (US), Danaher Corporation (US), Institut Straumann AG (Switzerland), Henry Schein, Inc. (US), Dentsply Sirona Inc. (US), 3M Company (US), American Orthodontics (US), Zimmer Biomet Holdings, Inc. (US), Ulbrichts Verlag KG GmbH & Co. KG (Germany).
The competitive landscape of the global orthodontics market is fragmented with the presence of several small and large players in the market. The key players in this market are focused on strategies such as mergers and acquisitions, product launches and approvals, expansion, and partnerships and collaborations to gain a competitive edge in the market. For instance, in November 2017, Henry Schein, Inc., acquired Patterson Companies’ dental business to expand its product portfolio and geographical reach in the dental industry.
Impact of Covid-19 on the market
The COVID-19 pandemic has had a significant impact on the global orthodontics market. The market was valued at USD 7.32 billion in 2019 and is expected to reach USD 10.31 billion by 2027, growing at a CAGR of 4.5% during the forecast period 2020-2027. The outbreak of COVID-19 has led to a decrease in the demand for orthodontic products and services due to the lockdown measures implemented by various governments across the globe. This has resulted in a decline in the revenue of orthodontic manufacturers and suppliers.
The outbreak of COVID-19 has also impacted the production and supply of orthodontic products and materials. The lockdown measures have disrupted the supply chain of orthodontic products, resulting in a shortage of materials and components needed for manufacturing these products. This has led to an increase in the prices of orthodontic products and materials.
The COVID-19 pandemic has also affected research and development activities in the orthodontics market. The lockdown measures have hampered clinical trials and research studies related toorthodontic treatments and procedures. This is expected to delay the launch of new Orthodontic products and hinder the growth of the market during the forecast period.
Company profiles
The global orthodontics market is expected to reach USD 10.2 billion by 2025 from USD 7.3 billion in 2020, at a CAGR of 6.8%. The growth of this market is primarily driven by the rising prevalence of dental disorders, growing awareness about dental aesthetics, and the availability of easy financing options and advanced treatment methods.
There are a number of key players in the global orthodontics market, including 3M (US), Align Technology (US), Dentsply Sirona (US), Henry Schein (US), Institut Straumann AG (Switzerland), Ortho Technology (US), Patterson Companies (US), Planmeca Oy (Finland), and Zimmer Biomet Holdings (US). These companies are primarily involved in research and development activities to introduce new products and expand their geographic footprints.
In terms of product type, the global orthodontics market is segmented into braces, aligners, and retainers/splints. The braces segment accounted for the largest share of the market in 2020. The large share of this segment can be attributed to the high efficacy and safety of braces as compared to other orthodontic devices.
On the basis of end user, the global orthodontics market is classified into hospitals & clinics, dental laboratories, and academic & research institutes. The hospitals & clinics segment accounted for the largest share of the global orthodontics market in 2020 due to
Conclusion
The global orthodontics market is expected to grow significantly in the coming years. This growth is attributed to the rising awareness of dental aesthetics, the increasing prevalence of dental disorders, and the growing number of Orthodontists globally. However, the recent outbreak of COVID-19 has created a significant impact on the orthodontics market, with a decrease in demand and production due to lockdowns and restrictions on elective surgeries. Despite this setback, the market is expected to recover quickly post-COVID as people return to their normal routines and seek out treatments for their dental problems.
