Orthodontics involves straightening teeth and realigning jaws through the use of braces and other dental appliances. It is commonly used to correct alignment problems but also aims to improve appearance. Orthodontic procedures include clear aligners, lingual braces, traditional metal braces, as well as retainers for maintaining tooth positioning. The industry offers a wide range of orthodontic supplies including brackets, wires, aligners, adhesives, and other dental tools to enable proper teeth movement during treatment.

The global orthodontics market is estimated to be valued at US$ 5.06 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the orthodontics market growth is the rising demand for aesthetic dental treatments. More individuals are looking to correct misaligned teeth or improve smiles for enhancing facial features and facial appearance. This is prompting increased uptake of orthodontic procedures worldwide. Further, technological advancements like invisible braces and lingual orthodontics which enable discrete treatment are fueling the market growth.

Clear aligners were once considered only for treating minor alignment issues but now offer an effective solution even for moderate to complex cases. Advanced 3D modeling and printing enable detailed treatment planning and precision in force application, improving treatment efficacy. This has boosted the popularity of clear aligner therapy. Rising social media influence is also creating greater emphasis on a perfect smile which is driving the orthodontics industry expansion.

Segment Analysis

The orthodontics market is segmented by product into systems & accessories and braces. Among these, the braces segment dominates the market with a share of over 70% owing to high prevalence and adoption of braces globally for orthodontic treatment. Braces are further segmented into fixed, removable and clear aligners. The clear aligners segment is expected to witness highest growth during the forecast period due to increasing patient preference for invisible treatment option over traditional metal braces.

PEST Analysis

Political: The orthodontics market is governed by various government regulations regarding dental services and medical device approval. Favourable healthcare reforms in major markets support market growth.
Economic: Rising disposable incomes coupled with growing awareness about oral healthcare is driving market growth globally. However, strict reimbursement policies impact the costs.
Social: Increasing focus on physical appearance and aesthetics is encouraging more people to opt for orthodontic treatment. Social media influences have boosted self-consciousness about dental alignment.
Technological: Advancements in material science and digital technologies like cad/cam, 3D printing, and clear aligners are translating to better and less conspicuous treatment options. Launch of new scanner, software, and alignment systems expedite orthodontic procedures.

Key Takeaways

The global Orthodontics Market Growth is expected to witness high growth over the forecast period.

Regionally, North America dominates currently due to high awareness and spending on dental care. However, Asia Pacific market is projected to grow at fastest pace considering large patient pool, rising medical tourism, and increasing focus of key players 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. The major players are focusing on geographical expansion and new product development. For instance, in 2023 3M launched new clear aligner material called CLARITY with self-ligating features. Align technology acquired exocad dental cad software supplier to integrate digital orthodontics in their clear aligners portfolio. Key players operating in the (incorporate given market name) 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it