Clear Aligners Market Projected to Reach US$23.8 Billion by 2029 with a Strong CAGR of 19.8%
The global clear aligners market, which attained remarkable revenue of approximately US$5.4 billion in 2021, is poised for substantial growth during the forecast period from 2023 to 2029. Clear aligners, offering a preferred alternative to traditional metal braces, are gaining popularity due to their flexibility, reduced discomfort, and improved aesthetics. The market is expected to grow at a robust CAGR of 19.8%, reaching a valuation of US$23.8 billion by 2029.
Clear Aligners Emerge as a Preferred Orthodontic Treatment:
Clear aligners are increasingly becoming the preferred choice for orthodontic treatment, overtaking traditional metal braces. They offer greater flexibility, comfort, and aesthetic appeal to patients. Factors such as rising disposable income, a growing acceptance of aesthetic procedures, and increased availability of these treatments are driving the clear aligners markets strong growth globally.
Meeting the Demand for Efficient Dental Care:
Malocclusion, or teeth misalignment, is recognized as a significant oral health issue by the World Health Organization (WHO). The prevalence of malocclusion ranges from 39% to 93% in children and adolescents worldwide. As a result, there is a substantial demand for clear aligners to correct misaligned teeth, contributing to the markets exponential growth. Clear aligners are identified as a rapidly growing segment in orthodontics today.
Untapped Potential in Dental Care Offers Growth Opportunities:
Despite a high demand for orthodontic treatment, a substantial unmet need exists. In the United States, for example, around 20% of the population experiences deviations from the ideal bite, and 66% of adults have incisor irregularities. However, only a small percentage of the population has opted for orthodontic braces or clear aligners. This gap indicates significant growth potential for the clear aligners market.
Innovative Products and Faster FDA Approvals Fuel Growth:
The market is witnessing a surge in product innovation, with the US Food and Drug Administration (FDA) fast-tracking approvals for clear aligners since 2018. More than 40 new clear aligner producers received FDA approval for printing clear aligners, more than double the approvals granted in all the years leading up to 2018. This trend reflects the rapid progress in the clear aligners market, driven by innovative product launches.
Digital Transformation and Disruptive Technologies Drive Growth:
Digital orthodontic and restorative workflows are experiencing significant advancements, offering new opportunities for dentists to practice their treatment skills. Automation, artificial intelligence (AI)-assisted assessment, and the use of augmented and virtual reality (AR/VR) technologies are enhancing patient outcomes and practice efficiencies. Rapid advances in biomaterials and computer-aided design and manufacturing (CAD/CAM) are endorsing clear aligners as a preferred treatment option.
US Dominates, While Asia Pacific Grows Rapidly:
Currently, North America leads the global clear aligners market, with a strong CAGR of 22.0% expected between 2023 and 2029. However, the market in the US faces saturation and intense competition, challenging further growth. Asia Pacific is emerging as a significant contender, particularly in countries like China and India, driven by strong performances in developing economies.
Key Players in the Global Clear Aligners Market:
Prominent leaders in the clear aligners market include 3M Company, Institut Straumann AG, Dentsply Sirona, and Henry Schein, Inc. Other active participants in the market landscape include Danaher Corporation, Alignerco, 32 Watts (Renderwise Solutions Pvt Ltd), Ormco Corporation, TP Orthodontics, Inc., Nevident, and K-Line Europe GmbH.
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COMTEX_440955605/2840/2023-09-26T04:31:15
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