The orthodontics market involves products and procedures related to dental alignment of teeth and jaw correction. Orthodontic devices such as braces, retainers and aligners are used to align teeth and facilitate their movement during dental procedures. Braces utilize brackets that are affixed to the surface of each tooth and are connected by an archwire that exerts controlled forces to steadily move teeth into correct alignment over time. On the other hand, clear aligners are thin, virtually invisible aligners that gently move teeth in incremental steps. The demand for orthodontic treatments is increasing due to growing aesthetic consciousness and the availability of clear aligner options that are less visible than traditional braces.
The Global Orthodontics Market is estimated to be valued at US$ 6.46 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031
Key Takeaways
Key players operating in the orthodontics market are J.P. Morgan Treasury Services, Bank of America Merrill Lynch, Citibank, Wells Fargo, HSBC Global Banking and Markets, BNP Paribas, Deutsche Bank, PNC Bank, Barclays, U.S. Bank. Leading manufacturers are focusing on expanding their product portfolios with new advanced offerings and digital solutions.
The orthodontics market is witnessing growing demand due to increasing awareness regarding dental appearance and rising disposable incomes. Patients increasingly demand convenient and less noticeable treatment options to boost their smiles and self-confidence.
Manufacturers are investing in R&D to introduce innovative new offerings with advanced technologies. Digital orthodontics solutions integrating CAD/CAM technologies and 3D printing are enabling more precise teeth movement tracking and treatment planning. Digital scans and virtual setups are replacing traditional impressions and stone models.
Market Trends
Increased Adoption of Clear Aligners - Clear aligners are gaining popularity due to advantages like convenience, invisibility and greater patient comfort. According to estimates, 6 out of 10 orthodontic patients now choose clear aligners over braces.
Rise of Digital Orthodontics - Digital technologies are transforming orthodontic procedures with virtual planning tools, 3D imaging and printed models/aligners replacing traditional impressions. Digital workflows allow for remote virtual visits and monitoring during treatment.
Market Opportunities
Untapped Growth Potential in Emerging Markets - While developed countries lead orthodontic treatments, emerging nations provide vast untapped opportunities for market expansion through awareness campaigns and affordable offerings.
Technological Innovation of New Products - Continuous R&D in advanced materials, virtual visualization and data-driven treatment outcomes evaluation opens doors for innovative new product launches to further enhance patient experience and orthodontist capabilities.
Impact of COVID-19 on Orthodontics Market
The COVID-19 pandemic has significantly impacted the orthodontics market. During the initial lockdown phases in 2020, most orthodontic practices were shut down or had limited operations due to social distancing norms. New patient visits declined sharply as people postponed routine dental visits and orthodontic treatments. This led to a substantial dip in revenue for orthodontists during this period. However, demand is expected to bounce back rapidly post pandemic as orthodontic treatments were considered non-essential during the peak phases. Teledentistry also aided continuity of care to a certain extent via remote monitoring and consultation during the lockdowns.
While the short term impact has been negative, long term growth prospects for the orthodontics market remain positive. The deferred patient visits and treatments will be taken up gradually as situations normalize. Awareness about the importance of oral hygiene and straight teeth increased during the pandemic and this is likely to boost demand. Also, younger population today is more accepting of orthodontic treatments for aesthetic reasons. The orthodontics industry is innovating new teledentistry tools and techniques to ensure business continuity even during future crises. Expansion of insurance coverage for orthodontics in some countries provides additional tailwinds.
North America dominates the global orthodontics market scope with the highest revenue share in 2024 owing to high spending capabilities and dental insurance penetration especially in the US. Europe follows behind led by demand in Western European markets like the UK, Germany, France and Italy. The Asia Pacific region is forecast to witness the fastest growth through 2030 driven by increasingmiddle class population, disposable incomes and dental expenditure in large counties like China and India along with adoption in other Southeast Asian markets.
South America is another high growth region for orthodontics led by Brazil which accounts for over 60% of the regional market currently. Middle East and Africa offer rising opportunities and regions like GCC countries are investing significantly to strengthen their dental healthcare infrastructure which will aid orthodontic adoption over the coming years. Overall, while near term impacts are seen, the orthodontics market is set to witness steady long term growth driven by global megatrends supporting oral care.
The fastest growing region for the orthodontics market geographically through 2024-2030 will be Asia Pacific. Increasing education and income levels in large developing countries of the region like China and India are propelling dental expenditures including orthodontic treatments. These markets are still in the growth stages with significant potential for future expansion compared to mature markets in Western countries. Moreover, population size and higher year-on-year economic growth rates of Asia Pacific make it an attractive destination for orthodontics industry players globally. Advancements in local manufacturing and supplier infrastructure are also aiding market access and development across Asia Pacific.
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