Clear Aligners Market to Rise at 18.7% CAGR and Reach USD 5.58 Billion by 2027; Increasing Technological Developments to Aid Growth, says Fortune…

November 24, 2020 07:47 ET | Source: Fortune Business Insights

Pune, India, Nov. 24, 2020 (GLOBE NEWSWIRE) -- 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 the clear aligners 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:

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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. They are creating awareness amongst the masses to educate them about the advantages of treating malocclusion. These factors are expected to boost the clear aligners market growth in the coming years.

To know more about the long-term and short-terms impacts of COVID-19 on this market, please click on this link: https://www.fortunebusinessinsights.com/industry-reports/clear-aligners-market-101377

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 clear aligners 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.

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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 clear aligners by teenagers, as well as the rising upgradation of dental products for treatment procedures.

List of all the manufacturers of clear aligners operating in the global market. They are as follows:

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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 DATA SOURCES THAT WE REFER TO:

SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

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Clear Aligners Market to Rise at 18.7% CAGR and Reach USD 5.58 Billion by 2027; Increasing Technological Developments to Aid Growth, says Fortune...