Orthodontics products help straighten and align teeth and jaws with the help of braces, retainers and other dental appliances. Correct positioning of teeth and jaws plays an important role in oral hygiene, natural speech patterns and aesthetic appeal. Increasing awareness regarding the benefits of proper alignment of teeth and jaws among both adults and children is driving more people to opt for orthodontic treatment. 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, as highlighted in a new report published by Coherent Market Insights.
Market key Trends:
The increasing awareness on oral healthcare is one of the key trends propelling the growth of the orthodontics market. Malaligned teeth and jaws can lead to speech impediments, improper chewing, and increased risk of oral diseases. Moreover, proper alignment boosts confidence and facial aesthetics. As a result, individuals are increasingly willing to spend on orthodontic treatments for straight teeth. Various social media campaigns focused on raising awareness about orthodontic treatment options have helped improve acceptance of orthodontic procedures. Furthermore, non-invasive and discrete treatment options like clear aligner therapy have increased demand for orthodontic corrections among both young adults and older populations globally.
SWOT Analysis
Strength: Orthodontics treatment enhances confidence and self-esteem through aligned teeth and improved facial aesthetics. It also helps in preventing dental health issues like tooth decay and gum diseases.
Weakness: Orthodontic treatment is expensive and requires long term compliance. The machinery used can be uncomfortable at times.
Opportunity: Rising awareness regarding dental and facial aesthetics is driving more people to opt for orthodontic treatment. Growing middle class population worldwide presents high market potential.
Threats: Low-cost alternatives like dental braces provided by local clinics can eat into market share of major players. Changing consumer preference towards dental cosmetic procedures poses threat.
Key Takeaways
The global Orthodontics Market Share is expected to witness high growth.
Regional analysis:
North America dominates the orthodontics market currently due to higher consumer spending and availability of advanced orthodontic products and services in the region. Asia Pacific is expected to fastest growing market for orthodontics due to large population base and increased disposable incomes in the region.
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. Key players are focusing on new product launches and expanding presence globally especially in emerging markets of Asia Pacific and Latin America to leverage high market potential.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
