The global orthodontic appliances manufacturing sector is growing at a steady pace. The growth contributors responsible for this includes factors such as a rise in patients with malocclusions, tooth decay, tooth loss, and jaw diseases. Also, other factors such as the growing demand for orthodontic treatment among adolescents, technological advancements in the field of orthodontics, and the rise in disposable incomes in developing economies will contribute to the growth of the orthodontic appliances market.
The global orthodontic appliances manufacturing segment can be classified into two main groups based on the products:
- Fixed Braces
- Anchorage appliances
- Removable Braces
Factors such as technological developments in orthodontic products, growing malocclusion cases, and awareness among customers regarding advanced orthodontic treatments are fueling the growth of the orthodontic appliances market. Moreover, it has been noted that the fixed braces segment will account for the most significant market share in the global orthodontic appliance market.
The Business Challenge:[spacer height=”20px”]
The client- A leading orthodontic appliances manufacturer
The client, a leading orthodontic appliances manufacturer, wanted to identify and evaluate the right market entry strategy. The client wanted to leverage Infiniti’s market entry strategy to understand their penetration levels across different geographic segments. The client also wanted a detailed report on the entry barriers, new opportunities, risks, and competition in the orthodontic appliances market space.
Results- Devised effective, low-cost market entry strategies to drive profitability. Also, identified future growth areas by drawing conclusions on geographic preferences and market opportunities.
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The Journey:[spacer height=”20px”]
The market entry strategy experts at Infiniti carried out extensive research comprising of interviews and discussions with leading stakeholders in the orthodontic appliances market space to help the client improve business efficiency. The experts at Infiniti further compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums to help the client understand the competitive scenario.
The Solution and the Business Impact:[spacer height=”20px”]
Implementing a market entry strategy engagement helped the client to identify potential growth areas. It also assisted them in devising effective, low-cost market entry strategies to establish their international presence. Moreover, the market entry strategy solution enabled the orthodontic appliance manufacturer to reduce the risk of conflicts through the careful selection of international partners and the formulation of jointly beneficial contracts.
The Future:[spacer height=”20px”]
The evolution of technology and digitization offers massive scope for development in the orthodontic appliances manufacturing sector. Also, the functionality of 3D printing has evolved over time and now finds use in manufacturing functional parts and escalating the applicability of this process.
However, to change the static process of 3D printing into a dynamic one, the future of orthodontic appliances manufacturing segment relies on the use of 4D printing. 4D printing is a digital process that takes 3D printing materials and adds the 4th dimension of time.
There are many ways by which an organization can enter a foreign market. No one market entry strategy works for all international markets. For instance, direct exporting may be the most suitable strategy in one market while in another, you may need to adopt a different strategy to succeed. Several such factors may influence your choice of market entry strategy, including, but not limited to the degree of adaptation of your product, marketing, and transportation costs. While these factors may well increase your costs, it is expected that the increase in overall sales as a result of effective market entry strategies will offset these costs.