The global ”clear aligners” Market size is expected to showcase considerable growth by reaching USD 10.04 billion by 2028 while exhibiting a stellar CAGR of 19.7% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Clear Aligners Market, 2021-2028”, mentions that the market stood at USD 2.41 billion in 2020 and is likely to showcase exponential growth during the forecast period. This is attributable to the increasing focus on the development of advanced clear aligners and the growing demand for aesthetics among the young generation globally. In September 2020, Align Technology, Inc., announced the launch of Invisalign Stickables. The innovative stickers are designed primarily to be adopted with the SmartTrack material in the clear dental aligners.
The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in resumption of industrial activities.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
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We have categorized the global market for clear aligners based on patient age group, end-user, and region. On the basis of the patient age group, the market is segmented into teenagers and adults. Based on end-user, the market is categorized into hospitals and dental & orthodontic clinics. Furthermore, based on end-users, the dental & orthodontic clinics segment is expected to showcase exponential growth backed by the increasing prevalence of malocclusion disorder globally.
Lastly, based on the region, the market is divided into North America, Asia-Pacific, Europe, and Rest of the World.