Global Digital Orthodontics Market is expected to grow at CAGR of 18% and to reach a revenue of $6.20 Billion by 2023
Sep 16, 2019 11:11 AM ET
In the Report “Digital Orthodontics Market:By imaging technology (X-rays, lasers, white light, 3D impressions, 3d imaging); By Technology (digital photography, intraoral scanners, 3D printers, others); By end use (hospitals, clinics, research institutes, laboratories); By Geography – Forecast (2018-2023)” published by IndustryARC, the market is driven by increased production capacity and elimination of bulky model storage that has resulted in the higher adoption rate of these devices. The report covers Digital Orthodontics Market size by type and applications, Digital Orthodontics Market share by top 5 companies and also the market share by start-ups during the forecast period.
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America leading with major share in the Digital Orthodontics Market
On a geographic level, American regions are the dominant player in the market with a 62% market share, with a large portion of it being held by the US, followed by Canada. America generated a revenue of $1.33 billion in 2017. The market for America is expected to grow at a CAGR of 16.6%, and to reach a value of $3.35 billion by 2023. The European region with its EU5 countries such as Germany, Spain and Italy, holds 25% market share. The European market is anticipated to grow at a CAGR of 19.3%, to reach a revenue of $1.67 billion by 2023. The APAC region will exhibit high growth rate of 21.5%, and is projected to be worth $946.88 million by 2023.
Selected Technology Analysis done in the full Report:
The global digital orthodontics market includes intraoral scanners, intraoral cameras and 3D printers. Among all, intraoral scanners account for majority of the revenue in the Global Digital Orthodontics market, contributing approximately 68%. The market for intraoral scanner is estimated to grow at a CAGR of 18.5% from $1534.2 million in 2017 to reach $4245.34 million by 2023. Growing disposable incomes, raising awareness of facial aesthetics and insurance coverage makes this market to grow at a higher rate. With the increasing attention to smile aesthetics and other Orthodontic procedures, Orthodontists across the globe use Intraoral Camera to devise the best treatment available for each patient. North America is the leading one in intraoral cameras togenerated revenueof $36.9 million in 2017, and is estimated to grow at a CAGR of 4% to reach $42.98 million by 2023. The 3D printers market is estimated to grow at a CAGR of 18.6% to reach $1671.80 million by 2023. Increase in production capacity, operational costs and faster model-making than hand milling is fuelling the growth of the market.
Excerpts on Market Growth Factors
The start-ups are developing innovative, portable and affordable digital orthodontics systems including digital photography, CAD/CAM, intraoral digital scanners and 3D printers. Such companies developing products with innovative solutions might pose a mild threat to the existing companies since digital orthodontics is still in the growth stage.
Number of companies entering the digital orthodontics market is increasing the market attractiveness. The competition is moderate due to high customer loyalty for branded products. The launch of new products and on-going development is the major factor behind long term growth of this market.
Dental instrument is growing rapidly throughout the world due to ample reasons including low cost, high quality, shorter waiting time, convenient, travel opportunities, most importantly being a cost effective alternative to the dental care offered in their own country, which will ultimately lead to the increase in the demand of digital orthodontics procedures.
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Key players of the Digital Orthodontics Market
The Digital Orthodontics Market comprises of numerous companies, catering to different requirements of the end-users.The digital orthodontics market is chiefly dominated by Sirona Dental Systems, Planmeca OY, Stratasys Ltd, 3Shape Systems, 3M Healthcare and Align Technology. However, the growing number of start-ups, coupled with technological advancements will shift the market share slightly from key players to smaller companies. Sirona Dental System’s major productCerec, Planmeca OY’s product PlanScan, Align Technology Inc. product iTero with the function of scanning and patented dual aperture lens system simultaneous capture 2D images in color with highly accurate 3D laser scanning, and last but not the least, Carestream Health’s launch of CS 3500 are some of the key products functioning towards the growth of the market.
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