The global orthodontic services market will continue to boom, with Technavio expecting it to reach $41.82 million by 2021. Similarly, ReportsnReports predicts a 12.51% compound annual growth rate (CAGR) for the market through the same period. Both companies attribute this growth to several key emerging trends.
“The orthodontic services market is expected to grow at a CAGR of around 13% during the forecast period owing to the development of newer technologies, less time-consuming procedures, and increasing incidence of oral health problems,” said Srinivas Sashidhar, a lead analyst at Technavio specializing in the orthopedics and medical devices sector.
According to Technavio’s analysts, the top 3 emerging market trends driving the market are collaboration with the leading insurance providers to reduce service costs; usage of advanced robotic technology via dental imaging; and usage of nanoparticles to develop next-generation invisible orthodontic braces.
As patients’ concerns about costs grow, dental care companies are working with insurance providers to make treatment more affordable, Technavio reports. As a result, dental care centers and insurance companies both will see better revenue as patients are encouraged to practice better dental hygiene and make regular appointments.
“The proposed dental collaboration with insurance providers would help in cost-cutting on the dental services without putting much pressure on the patients as well as dental professionals,” said Sashidhar.
Meanwhile, advanced robotic technology is replacing conventional technologies to reduce the time treatments take and the pain they cause, Technavio says. It also enables better accuracy, conservative tooth grinding, and faster recovery. According to ReportsnReports, dental imaging plays a key role in these robotic technologies.
In addition, as the invisible orthodontics market grows—with 12.16% growth through 2021, according to Azoth Analytics—researchers are investigating nanoparticles to develop next-generation treatments. These particles increase mechanical and friction resistance while maintaining transparency, improving their aesthetics and comfort, Technavio says.
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