There is significant number of players operating in this market all over the globe. Most of these players exist in the American region. There are a lot of large and small market players available in the market which provide a wide range of products for various applications.
Align Technology, Inc., Danaher, and Institut Straumann AG are the top players in the global clear aligners market, contributing a major share of the total global market.
The global clear aligners market is a very lucrative, attractive, and profitable market, both for existing players as well as new entrants. At the same time, intense rivalry among existing competitors has been observed. Our analysis revealed that market players have adopted different strategies to increase their business and position in the global clear aligners market. In recent years, strategic movements made by major players were product launches, acquisitions, and strategic agreements, which have been used as market penetration strategies and to reduce competition. The major players in the global clear aligners market are Align Technology, Inc., Dentsply Sirona, Institut Straumann AG, Clarus Company, Danaher, and 3M.
Companies are now entering into acquisitions and product launches to neutralize growing competition from customers, competitors, and to tackle the changing market dynamics.
Bargaining Power of Suppliers
Bargaining power of suppliers in the clear aligners market is low to medium. The number of suppliers in the market is low, giving limited options leaving suppliers with medium bargaining power. Another, factor affecting the bargaining power of suppliers is the supplier switching cost for buyers owing to the presence of a moderate number of raw material suppliers in the market. On the other hand, since high and digital materials are used for manufacturing of clear aligners only a moderate number of viable raw material substitutes are available, which further limits the bargaining power of suppliers in the market.
Bargaining Power of Buyers
The bargaining power of buyers is medium in the clear aligners market. The market has a large number of buyers comprising dental clinics, hospitals, and individual professionals. Due to technological advancement in dental devices, the successive rate of treatment of dental disorders has increased, which has increased the demand for dental devices in the market. There are clear aligners available in the market at a lower cost which allows the buyer with options rather than bargaining (for example local manufactures of clear aligners provide these devices and equipment at a relatively less price and offer the same quality of imaging). In addition, buyers are price-sensitive, which moderately affects their bargaining power in the market. There is a presence of high number of clear aligner manufacturers in North America, which provides products at a low cost. In addition, switching cost is moderate for buyers as many alternative clear aligners are cost-effective and easily available.
Threat of New Entrants
The threat of new entrants is medium in the clear aligners market. Any dental manufacturing company trying to enter the market is required to abide by mandatory regulatory standards. The clear aligners market is also characterized by a moderate degree of brand loyalty where establishing a brand name is difficult for newcomers. Thus, the above factors affect the entry of new players moderately.
Threat of Substitutes
The threat of substitutes in the global clear aligners market is moderate to high. The buyer’s inclination to substitute is moderate to high due to the high number of clear aligner products available in the market. There are various substitutes for clear aligners such as clear brackets, ceramic brackets, lingual braces. The lingual braces are mounted on the insides of the teeth so that they aren’t visible from the outside. As lingual braces are less noticeable than the clear aligners, they can be easily adopted by the patients. Thus, these factors affect the threat of substitutes.
Intensity of Rivalry
The degree of competition in the clear aligners market is high. The modest degree of product differentiation among existing players increases the intensity of rivalry in the market. Clear aligners’ manufacturing companies are trying to develop less expensive products to make procedures more affordable in developing region. In addition, brand loyalty moderately affects the market as buyers are inclined towards established MNC companies. To overcome the competition, players are engaged in developing their processes to lower their manufacturing cost. Moreover, the players are also developing more technology advanced devices for differentiating their products.
