Orthodontics involve the use of clear and metal braces to straighten crooked teeth and correct misaligned jaws. Such treatment helps improve dental and facial aesthetics as well as long-term oral health by easing dental hygiene and preventing excessive tooth wear. With advanced materials and new digital technologies, orthodontic treatment is now less noticeable and more comfortable than earlier alternatives. 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 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity for non-surgical correction through orthodontic treatment is propelling growth of the market. Crooked and misaligned teeth often require braces to be straightened without resorting to jaw surgery. This renders orthodontics an affordable and convenient alternative to surgical procedures for misalignment correction. Improving dental aesthetics for both function and appearance has become an increasingly important personal need. Rising disposable income in emerging economies has enabled more people to opt for orthodontic treatment and benefit from its cosmetic applications. Technological advancements have made treatment less visible with aligners and lingual braces gaining popularity. This facilitates acceptance of orthodontics among older age groups seeking smile correction, providing a significant market opportunity over the forecast period.
Porter's Analysis
Threat of new entrants: The orthodontics market requires high initial investment for equipment, clinic set-up and training which poses barriers for new entrants. Bargaining power of buyers: Individual consumers have limited bargaining power due to their reliance on orthodontists for treatment and lack of information. However, large dental insurance companies wield significant influence over product prices. Bargaining power of suppliers: A few large companies dominate the supply of orthodontic products giving them bargaining leverage over orthodontists. Threat of new substitutes: No cost-effective substitutes currently exist for orthodontic treatment in the core area of teeth alignment and jaw transformation. Competitive rivalry: Competition is intense between regional and national orthodontic chains as well as group practices and solo practitioners given the number of market players.

SWOT Analysis
Strengths: Growing demand for clear aligners and invisible braces is driving the market. orthodontists have expertise in complex treatments. Weaknesses: High cost of orthodontic treatment is a barrier for many patients. Reliance on dental insurance coverage for majority of payments. Opportunities: Untapped potential in developing regions present an opportunity for growth. Adult patients are an expanding segment with rising income levels and focus on appearance. Threats: Economic slowdowns can negatively impact discretionary spending on orthodontics. Supplier consolidation increases their control over product pricing.

Key Takeaways
The global Orthodontics Market Share is expected to witness high growth over the forecast period of 2024 to 2031 supported by rising awareness, growing disposable income in developing regions, preference for aesthetics and expansion of key players footprint across regions.
Regional analysis reveals that North America currently dominates the market owing to established healthcare systems, widespread dental insurance cover and growing number of chain orthodontic practices in the US. Asia Pacific is poised to be the fastest growing regional market led by China and India on account rapid economic development, huge patient population and improving access to orthodontic treatments.

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. Clear aligners have emerged as a popular alternative to traditional orthodontic treatments among adults and teenagers alike. Companies like Align Technologies have expanded their product portfolio beyond clear aligners into scanners, 3D printing and teledentistry to support broader orthodontic needs. Private equity investments have accelerated consolidation in the industry as firms acquire regional orthodontic chains to gain footprint and market share.
For more insights, read- https://www.newsstatix.com/orthodontics-market-trends-size-and-share-analysis/
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