Pune, Nov. 05, 2020 (GLOBE NEWSWIRE) -- The global clear aligners market size is expected to gain momentum from the ongoing technological developments, training of new doctors, and rising partnerships and acquisitions. 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. 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.
KEY INDUSTRY DEVELOPMENTS:
- January 2020 – Bellevue Orthodontics, an orthodontic clinic based in Seattle, United States, announced the launch of the Same-Day Clear Aligners with the aid of 3D printing. Through this facility, the patient will be able to obtain their aligners on the very first appointment.
- January 2020 – Western Dental announced the introduction of their product offering of ClearArc Orthodontic Aligners.
- November 2019 – Henry Schein announced the launch of these Aligners consumer education website, for the furthering of patient education.
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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 causing a reduction in the number of treatment 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.
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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.
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.
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Key Players Focus on Introducing Unique 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: 3Shape unveiled 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.
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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.
- 3M
- Institute Straumann AG
- ENVISTA HOLDINGS CORPORATION
- 3Shape A/S
- Dentsply Sirona
- Argen Corporation
- Henry Schein, Inc.
- Others
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Segmentations:
By Patient Age Group
• Teenager
• Adults
By End User
• Hospitals
• Dental & Orthodontic Clinics
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, South East Asia, and Rest of Asia-Pacific)
• Rest of the World
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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