The dental aligners market is experiencing rapid growth, driven by the increasing prevalence of malocclusion and a growing demand for orthodontic treatments. This growth is also fueled by technological advancements, evolving consumer preferences, and the psychosocial benefits of dental aligners. With a market value of $6.2 billion in 2023, the sector is poised for significant expansion with a projected compound annual growth rate (CAGR) of 14 per cent during 2023-33, according to GlobalData.
GlobalData’s report, “Dental Aligners Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033,” reveals that Align Technology still dominates the aligners market with over 50 per cent market share and its nearest competitors Dentsply Sirona and ClearCorrect (Straumann) at only 5-6 per cent each.
Ashley Clarke, Senior Medical Analyst at GlobalData, comments, “In recent years, demand for dental aligners has skyrocketed. They address the health, aesthetic, and psychosocial aspects of malocclusion while often being more comfortable and aesthetic than traditional appliances like braces, making them appealing to adults, and increasingly popular amongst teens and adolescents.”
An influx of patients seeking discreet dental treatments during the COVID-19 pandemic led to the market doubling in value between 2020 and 2021. However, the market is susceptible to volatility due to sensitivity to economic fluctuations that impact consumer spending. Inflation and economic downturns can pose challenges for competitors to maintain their market presence and profitability.
SmileDirectClub, a key player in the market, abruptly shut down at the end of December 2023, opening avenues for competitors to capture market share, while also making consumers uneasy about these direct-to-consumer businesses.
Clarke continues, “In the wake of SmileDirectClub’s exit, there is an opportunity for competitors to refine their practices and enhance care standards to build trust with consumers and the medical community. Reinforcing the perception of dental aligners as a safe and effective treatment option is a key aspect of continuing the recent market growth.”
While aligners offer numerous benefits, they are not suitable for all dental cases, and their success heavily relies on patient compliance. The cost and availability of treatments also remain significant barriers for many potential patients. Technological innovations are making aligner treatments more economical, predictable, and capable of addressing complex dental issues. However, competitors must prioritise innovation, market penetration, and consumer education to succeed.
“Diversity in malocclusion cases presents a wide array of demographic targets, suggesting vast untapped opportunities for those who can effectively address market barriers and adapt to consumer needs. Despite challenges such as economic volatility and treatment limitations, the market’s potential remains expansive. Success will hinge on addressing affordability and access while maintaining high standards of care and patient education,” concludes Clarke.
Edits made by EH News Bureau