Invisible orthodontics in China: Key market research findings
- Outsourcing of orthodontic products drives market growth
- Clinics account for a majority of the market’s revenue
- Key vendors – 3M, Align Technology, Angel Align, ClearCorrect, Ormco, and TC Medical
Technavio’s market research analysts predict the invisible orthodontics market in China to grow at a CAGR of around 16% between 2016 and 2020. The growth of this market can be attributed to the rise in the outsourcing of orthodontic products in dental laboratories. Rapid development and improvement in living standards have led to an increase in the disposable income of Chinese, making high-quality oral care affordable for them. This has led to the demand for various medical products, including invisible customized orthodontic devices. The government of China conducts various dental exhibitions to attract foreign and domestic vendors to invest in the area of orthodontics. These companies develop and offer customized orthodontic products such as invisible orthodontic braces to Chinese dental laboratories for treating oral conditions in people.
The new market research report from Technavio presents a breakdown and analysis of the invisible orthodontics segments based on the end-user.
“The implementation of digital dental technology has widened the scope of dentistry. This technology has helped replace traditional dental procedures that involved the use of mechanical or electrical tools. The scope of these advanced technologies further increase through dental shows. China presents significant opportunities for dental product manufacturers to grow. Dental shows create business opportunities for global and local vendors to invest in the country,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
During 2015, the clinics segment accounted for around 54% of the overall market revenue to become the key revenue generating vertical of the invisible orthodontics market in China. The number of private dental clinics in China is on the rise due to surging foreign and domestic investments. Domestic investments include the acquisition of iByer Dental Group by Legend Holdings in June 2014 and renamed it to Bybo Dental Group. It has become one of the largest dental groups in China, with more than 150 dental clinics. Foreign investments include the establishment of Q & M Dental Holdings in China that also has a dental clinic chain in Singapore. Arrail Dental Clinic and Bybo Dental Group collaborate with universities to train their dentists.
The key vendors in the invisible orthodontics market in China include 3M, Align Technology, Angel Align, ClearCorrect, Ormco, and TC Medical. The market is consolidated, with major vendors acquiring small-sized companies to remain competitive. They are also using advanced technologies to develop new products or upgrade their existing portfolio for more sales. This will likely intensify market competition.
A more detailed analysis is available in the Technavio report, Invisible Orthodontics Market in China 2016-2020.
