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Analyzing the Orthodontics Market in India

Release date 24.02.2021

Number of pages 56

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The relevance of research

Orthodontics is a branch of dentistry that deals with the correction and prevention of malocclusion, misalignment of teeth and a number of other problems of the dentoalveolar system.

Purpose of the study

Analysis of the state of the orthodontics market, assessment of the market size, analysis of competitors, as well as identification of factors affecting the orthodontics market

Content

Part 1. An Overview of the Indian Orthodontics Market

1.1. Definition and Characteristics of the Indian Orthodontics Market
1.2. Trends in Indian Orthodontics Market Size 2012-2019
1.3. Market structure by type of service provided in India
1.4. Orthodontics market structure by Union Territories
1.5. Assessment of current trends and development prospects of the studied market
1.6. Assessment of factors affecting the market
1.7. Analysis of sectoral indicators of financial and economic activity

Part 2: Competitive Analysis in the Orthodontics Market in India

2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players

Part 3. Orthodontics consumption analysis

3.1. Estimation of consumption of orthodontic services per capita
3.2. Market Saturation and Estimated Market Potential in India
3.4. Price analysis

Part 4. Assessment of factors of investment attractiveness of the market

Part 5. Orthodontics Market Forecast until 2024

Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations to existing market operators

Research excerpt

Part 1. An Overview of the Indian Orthodontics Market

1.1. Definition and Characteristics of the Indian Orthodontics Market

The dental industry in 2019 accounted for approximately ...% of the entire Indian paid medical services market, being the most commercially oriented segment of the industry. At the same time, the market of dental clinics is relatively poorly studied. One of the reasons for this was its low structure. The number of large networks is not so large, and the most active market participants are individual large and well-known clinics. The main share of the dental market is occupied by private medical clinics, most of which (about two-thirds) operate independently. Only 34% of the total number of dental institutions are united in large networks.

Orthodontics is a branch of dentistry that deals with the correction and prevention of bite defects, misaligned teeth and a number of other problems of the dentoalveolar system.
More than 80% of people have crooked teeth or malocclusion. Moreover, more than a third of cases require specialized orthodontic care to correct malocclusion. The dentist who deals with this treatment is called an orthodontist.

Every year more and more people need to correct their bite. This is due to the nature of the food consumed by modern man. The food is soft - our chewing apparatus, as a rule, does not receive the load planned by nature. As a result, the jawbones of a modern person do not develop enough, and the teeth remain the same size and become cramped.

The history of orthodontics goes back to antiquity: even in the writings of Hippocrates there are references to attempts to straighten crooked teeth. However, the real “father” of orthodontics is the Frenchman Pierre Fauchard, who in 1728 was the first to describe in detail, to the best of his ability, the problem of crooked teeth, its possible causes and potential remedies in one of the chapters of his book The Dentist Surgeon.

The first devices used in orthodontics went far beyond the boundaries of the oral cavity and were more like torture devices, which they were for their owners. Over the past hundred years, the situation has changed significantly, and modern orthodontics uses much more convenient, painless and effective methods of teeth alignment and bite correction.

Today, a competent orthodontist will put braces, aligners, trainers or caps, which not only will not spoil the appearance, unlike outdated designs, but will not interfere with everyday life at all. Also, mini-implants are often used in modern orthodontics, which are installed in the oral cavity to fix structures, and are removed upon completion of treatment.
...

In India, a consultation with an orthodontist is recommended for children as young as 7 years of age. at this age, the formation of a permanent occlusion begins during the eruption of the first permanent molars (6th teeth). Permanent incisors are also erupted, which, if not set in the correct position, can lead to further aggravation of the pathology during the formation of the dentoalveolar system.

An orthodontist treats not only children, but also adults: recently it has become a fashionable trend to monitor not only the health of your teeth, but also their aesthetic appeal. Beautiful straight teeth are considered a symbol of material well-being, and irregularities of the dentition, on the contrary, scare away and interfere with communication.

The active period of treatment with orthodontic appliances can last from several months to three years. Sometimes treatment is indicated in two stages: in a removable dentition and permanent.

Diagram 1. Types of paid dental services, %

1.2. Trends in Indian Orthodontics Market Size 2012-2019

Consider the dynamics of the volume of the orthodontics market in India. According to GidMarket analysts, based on data from market experts, during 2012-2019. the volume of the studied market in monetary terms has steadily increased. At the same time, after 2016, a slowdown in growth rates was noted, which is associated with a decrease in the purchasing power of the population, as well as a decrease in real incomes of the population.
...

1.3. Market structure by type of service provided in India

The main way to treat malocclusion is the installation of braces, which account for ...% of the market. Trainers occupy ...%, aligners and retainers occupy ...

Diagram 3. Orthodontics market structure by types, %

1.4. Orthodontics market structure by Union Territories

The structure of the market for orthodontic services in the union territories is identical to the structure of the market for dental services as a whole, because Most dental clinics have an orthodontist. So, in 2019, the leader in the structure of the orthodontic services market is the North-Western Union Territories ...
...

1.5. Assessment of current trends and development prospects of the studied market

The domestic market of dentistry does not have a pronounced network orientation. In the regions, medical institutions are represented more by private enterprises. Network business dominates in large cities.
In the structure of commercial services, there are more and more cases of paying for treatment on credit, which indicates that this branch of medicine has exceeded the accessibility threshold.
Wealthy clients choose foreign dental clinics for treatment in order to receive high-quality service.

In 2019, in the fight for a patient, dentists resorted to various promotions, including discounts, bonuses, etc. Some of the clients came to clinics with a more democratic pricing policy under VHI policies. According to Sergey Lobanov, General Director of Primed City Dental Center, the percentage of insurance clients varies greatly depending on the price segment in which the clinic operates. The cheaper, the greater the proportion of insured patients.
In this situation, pricing issues have to be resolved as correctly and flexibly as possible so as not to scare off a potential client and stay afloat.

Despite the increase in the cost of dental services, the demand for orthodontic services, according to experts, will grow due to the increase in the prevalence of oral diseases among the population of different ages.
At the same time, the reform in the healthcare sector has led to the partial closure of state dental clinics, in connection with which a significant proportion of patients in state clinics will gradually begin to flow into the paid services sector.
From the consumer's point of view, children and adolescents are the most numerous patients. The adult orthodontic market is expected to grow stronger over the next 5 years, mainly due to increased investment in the development of new types of aesthetic braces.
...

The most promising direction is the introduction of computer technology in the treatment process in all specializations of dental services. In orthodontic treatment, the field of computer modeling allows, even before treatment, to produce all orthodontic structures that, within a specified period, allow achieving a complete correction of the bite. At the same time, both in orthopedics and orthodontics, the amount of manual labor is sharply reduced, especially in terms of performing low-skilled dental operations, which will lead to an improvement in the quality of products and successful treatment.

For example, the use of 3D technologies in the orthodontics market can significantly reduce the cost of treatment and the manufacture of caps. Mouthguards imported are expensive, Indian ones are often inferior in quality. Therefore, 3D technologies are a promising segment in the orthodontics market in India.

Thus, the leading trends that determine the further development of the orthodontic services market will be the introduction of new technologies that will allow you to correct bite defects as painlessly as possible, as quickly as possible and with perfect quality.

In addition, experts identify a number of negative trends for the dental services market:
The high cost of business - the organization of one workplace (purchase of medical furniture, tools, equipment and its installation) costs 1,5-2,0 million rupees.
It is difficult to find a high proportion of specific knowledge of specialists - investors for an industry with a high degree of risk.
Difficulty in obtaining a loan to start a business.
Lack of staffing base.

1.6. Assessment of factors affecting the market

Let's consider the main factors influencing the market and, accordingly, demand.

Social (demographic)

During 2012-2018 India's population is on the rise. The increase in the population in 2015 was not only due to migration and natural increase, but also due to the formation of two new states of the Federation - the Republic of Crimea and the city of Sevastopol.
...

According to the forecast for the period up to 2024, the population will increase only if the high version of the forecast is followed, however, in light of the developing economic crisis and the coronavirus pandemic, this version of the forecast is unlikely to materialize.
...

Consumer culture in India. The fashion for a “beautiful smile” is becoming more and more relevant in society. An important aspect is that patients have already accepted the private sector of dentistry as an integral part of it. What is the big difference between the dental sector and paid services in other areas of health care.

General trends in macroeconomic indicators can also be traced in such a value as real incomes of the population, which determine the level of effective demand.

Economic

GDP is a macroeconomic indicator that reflects the market value of all final goods and services (that is, intended for direct consumption) produced per year in all sectors of the economy on the territory of the state for consumption, export and accumulation, regardless of the nationality of the factors of production used. It is the main, most complete official indicator of public welfare. The absolute and relative values of GDP give an idea of the general material well-being of the nation and the dynamics of its growth / decrease, since the higher the level of production, the higher the welfare of the country.
...
In the context of circumstances that currently negatively affect the size of GDP in the short and medium term, we indicate the opinions of experts.

The Organization for Economic Co-operation and Development (OECD), in its new forecast (September 2020), improved its expectations for a decline in global GDP for 2020. Thus, according to new OECD estimates, global GDP will shrink ...
The World Bank expects global GDP to decline by ...% in 2020.

Regarding India, experts predict a difficult and unpredictable period. Firstly, because the entire global economy has entered a recession triggered by the coronavirus. Secondly, there was a drop in world oil prices, which is extremely painful for the Indian economy. As a result, it is highly likely that in the medium term the orthodontics market will also be negatively affected by negative processes in the global and Indian economies. The strength and duration of the impact will depend on: the demand for oil and gas and the level of world prices for them, the duration of the period of low prices, as well as the duration of the coronavirus pandemic in the world and India.

Let's take a look at some experts' assessments:
...
Thus, experts disagree significantly about the real dynamics of India's GDP in 2020.
...

The industrial production index shows the total volume of all industrial production, utilities, etc. in terms of money.

The industrial production index in January-September 2020 compared to the corresponding period in 2019 amounted to ...%.

Table 2. Industrial production index by state of India (in % of the previous year), 2015 - 2019

Against the general negative background associated with the external economic situation and measures to counter the coronavirus pandemic, demand growth is observed only for products of low-tech industries. Such a sharp decline in demand in the extractive industries has not been recorded since the start of IPEM observations in 2009. Even in the current conditions, the decline in production will occur inertially, and not all at once, since the industry can work “for storage” for some time. In addition, the quarantine measures taken have affected it to a much lesser extent compared to trade and the service sector.

inflation rate. ...

technological

A decisive role in the efficiency of work and increasing the competitiveness of orthodontics services is the introduction of new modern equipment and technologies that allow high-quality and in a short time to diagnose and treat diseases. Among the problems that arise during the technical re-equipment of dental clinics, one cannot fail to mention the widespread practice of state dental institutions of a ban on the part of the healthcare management of the free purchase of dental equipment, consumables, etc. At the same time, “recommendations” are indicated for the purchase of materials from a specific supplier , or there is a mass purchase for institutions in the region without taking into account the needs and desires of dental institutions.

Despite the large number of graduates of this profession, there is a demand for highly qualified personnel. According to the head of the Department of Orthodontics, North-Western State Medical University. I.I. Mechnikova S.A. Popova, only half of the orthodontist graduates are good specialists.

To solve the problem of staff shortages, some large dental clinics independently conducted training for young specialists, as a result of which graduates of dental universities could treat patients on their own. But in the context of the crisis, the opportunities for training and adaptation of personnel have declined. Educational institutions involved in the professional training of dentists do not have their own clinical facilities, and the learning process is poorly provided with modern equipment and consumables. Therefore, graduates of domestic universities have insufficient qualifications in the field of modern dental treatment technologies.

Political

Credit policy. Today it is quite difficult to imagine the progressive development of the economy without the active participation of the credit system. It should also be noted that the assessment of the availability of credit resources for both legal entities and individuals is a significant indicator that allows assessing not only the demand for credit funds, but can also serve as a reflection of the real economic situation both in the region and in the economy as a whole.
...

The Government of India is actively working towards the availability of credit funds. The weighted average interest rate after the growth in 2015 tends to decrease. Low stable interest rates allow you to plan your business more confidently. Order of the Ministry of Economic Development of India dated February 19.02.2015, 74 N 2020 approved the Main Provisions of the Strategy for the Development of the National Guarantee System for Supporting Small and Medium Enterprises for the period up to . The main goals of the Development Strategy are to increase the availability of credit resources for SME states and the formation of a unified system of guarantee support for small and medium enterprises and medium business.
...

Licensing. Activities in the field of dentistry are subject to mandatory state control, therefore, in order to legally treat teeth, an orthodontist must have a license in orthodontics.

Players in the market of commercial medicine, including cosmetology, note the growing targeted attention to their activities from Rospotrebnadzor and the Federal Tax Service. Regulators require clinics, both private and public, to bring price lists and fiscal documentation in strict accordance with the nomenclature of medical services approved by Order No. 804n of the Ministry of Health of October 13, 2017. Experts and representatives of industry trade unions believe that the current list of medical services has not been updated taking into account real clinical practice. The tax authorities require that checks for payment for medical services issued by medical organizations reflect the codes of medical services in accordance with the order of the Ministry of Health No. 804n. That is, a medical organization cannot charge money for a medical service that is not provided for in the Nomenclature of Medical Services, and, accordingly, provide it to patients.

Contradictions in the interpretation of the requirements of the nomenclature regulations were exacerbated by the fiscal reform launched in 2017 - legal entities began to accept payments through online cash desks, replacing traditional settlement machines and sending data on each issued check directly to the tax service.

Most operators of the most commercialized market segments - dentists, cosmetologists - agree that regulators not only restrain their marketing activity by complaining about price lists and fiscal documents, but simply use regulatory uncertainty for punitive pressure.

State support. In the context of the economic crisis and the coronavirus pandemic: the Government Commission on Improving the Resilience of the Indian Economy, chaired by First Deputy Prime Minister Andrey Belousov, approved a list of sectors of the economy most affected by the deteriorating situation due to the spread of a new coronavirus infection, to provide priority targeted support.

Based on the results of consultations with the business community, the Ministry of Economic Development of India submitted the following sectors for approval to the Commission: air transportation, airport activities, trucking; culture, organization of leisure and entertainment; physical culture and health-improving activities and sports; activities of travel agencies and other organizations in the field of tourism; hotel business; catering; organizations of additional education and non-state educational institutions; organizing conferences and exhibitions; activities for the provision of personal services to the population (repair, laundry, dry cleaning, hairdressing and beauty salon services). The list of industries was approved by the Government of India Decree No. 3 dated April 2020, 434.

On April 13 and 18, changes were made to the list of sectors of the Indian economy most affected by the new coronavirus infection. Section 2 was supplemented with the position “Activities in the field of film demonstration”, section 10 “Dental practice” was added, the activities of museums and zoos were added to the section “Culture, leisure and entertainment”. In addition, a new section “Retail sale of non-food products” has appeared in the list, which includes, among other things, trade in cars, motor vehicles and motorcycles, parts, assemblies and accessories for them, general goods, information and communication equipment, cultural and entertainment goods appointments, textiles, clothing and footwear. The list has since been updated as well.

The vast majority of the support measures announced by the president and the government concern only the industries that the government has identified as the most affected. That is, benefits apply only to legal entities and individual entrepreneurs whose main activity code (OKVED) specified in the unified state register (EGRLE) is included in the government list of such industries.
...

In general, the impact of macro factors on the orthodontics market can be assessed as a negative moderate force. A group of social and economic factors has a negative impact, as well as the lack of highly qualified specialists and the legal field, the lack of opportunities for the state. institutions to independently purchase materials / equipment, the requirement for compliance with the nomenclature of medical services.

A positive impact is exerted by such factors as modern equipment and technologies, a formed consumption culture, a group of political factors (improvement of credit policy, licensing in the industry, state support). These factors allow us to expect an increase in demand in the market in the future, in the medium term.

Table 4. STEP analysis of factors influencing the orthodontics market

1.7. Analysis of sectoral indicators of financial and economic activity

Consider the financial and economic indicators of the orthodontics market for 2012-2019. Note that the main activity of most clinics providing orthodontic services, according to OKPD2, is “Dental practice” (86.23). Having studied the financial ratios of the main market participants, GidMarket analysts came to the conclusion that the average values of the performance indicators of the main market players correlate with the indicators of the Dental Practice industry as a whole. In this regard, further in this section, the indicators of the ""Dental practice"" industry are considered.

Gross margin

Gross margin is gross profit divided by sales revenue (excluding excise taxes and VAT). Gross margin shows how much gross profit falls on a unit of revenue. Gross profitability serves as an assessment of the economic efficiency of an enterprise, which reflects the rational use of labor, material, monetary and other resources.
...

Return on profit
...

Diagram 12. Profitability before tax (profit of the reporting period) in the field of orthodontics in comparison with all sectors of the Indian economy, 2012-2019, %

Current liquidity

Values of current liquidity in the industry in 2012-2019 were in the range of ... times. The higher the value of the current liquidity ratio, the higher the liquidity of the company's assets. Too high current ratio (above “2”) is also undesirable, since it may reflect insufficiently efficient use of current assets or short-term financing.

Absolute liquidity

Orthodontics industry in 2012-2019 in general, it has indicators of absolute liquidity higher than in all sectors of the economy. The maximum value of the indicator was noted in 2012 - 1,77 p.p., which is 1,416 p.p. more than in all sectors of the Indian economy.

For Indian companies, the normative value of the absolute liquidity ratio is in the range of Kal> 0,2-0,5 times. A higher absolute liquidity ratio may signal too high a share of non-performing assets in the form of cash and funds in accounts.
...

Business Activity Indices
...

Financial stability

Financial stability indicators in 2012-2019 in general for the industry were much higher than the normative value, which indicates a sufficient amount of own working capital in the industry, necessary for its financial stability.

Table 7. Financial stability (security of own working capital) in the field of orthodontics in comparison with all sectors of the Indian economy, 2015-2019, %

In general, the analysis of sectoral financial ratios of the orthodontics industry shows a high profitability before tax, as well as an increase in gross margin in the study period. Also, the industry is characterized by a high current liquidity ratio, which indicates an insufficiently efficient use of current assets or short-term financing. The values of the absolute liquidity indicator indicate that the share of non-performing assets in the form of cash and funds in accounts is too high. At the same time, the average turnover period of receivables in the field of orthodontics is much less than the average age of receivables in all sectors of the Indian economy - a positive factor. It should also be noted that during 2012-2019. indicators of the provision with own working capital were higher than the normative value, which indicates a sufficient amount of own working capital in the industry, necessary for its financial stability.

Part 2: Competitive Analysis in the Orthodontics Market in India

2.1. Major players in the market

The orthodontics market is represented by a large number of players, including narrow-profile and multi-profile clinics, clinics with public and private ownership, and private offices.
The largest operators of the orthodontics market include the XXX Clinic Network, the XXX Clinic Network, the Dental Clinic Network ...
...

2.2. Market shares of the largest competitors

As of 2019, the largest operators of the orthodontics market in India together occupy only ...% of the market, which is due to the large number of dental organizations in India.
...
The Herfindahl-Hirschman Index calculation data for the orthodontics industry show that this market is a low-concentration market (low market concentration). Mergers and acquisitions are allowed freely.

2.3. Profiles of major players

Network of clinics ""XXX""
...
Network of clinics ""XXX""
...
Network of dental clinics ""ХХХ""
...
Network of dental clinics ""ХХХ""
...
""XXX""
...
Estimating the total revenue of the market leaders is complicated by the fact that market operators provide data on revenue volumes for the company as a whole, without a breakdown by industry. However, the general dynamics can be traced.

Diagram 16. Dynamics of revenue volume of the largest orthodontics market operators (TOP-5) in India, 2012-2019, million Rs.

Part 3. Orthodontics consumption analysis

3.1. Estimation of consumption of orthodontic services per capita
Consumption per capita during 2012-2019 steadily increased.
...

3.2. Market Saturation and Estimated Market Potential in India

Orthodontics is one of the dental specialties with the fastest rate of progress. The problem of providing qualified and timely orthodontic care is extremely relevant.
If 5 years ago it was believed that orthodontics can help only during the formation of the jaw system, today effective orthodontics is available to people of any age.

According to the Ministry of Health of India, there is a pronounced shortage of dental specialists, including orthodontists, in the medical institutions of the regions. In the vast majority of regions of India, there are pronounced queues for consultations with an orthodontist in public dental clinics and the high cost of treatment by specialists in commercial dental clinics, which significantly reduces the motivation for orthodontic treatment.

The most massive segment of the private dentistry market - up to 70% of the total volume - is the economy class, which is represented by small rooms from one to three chairs with a minimum set of licensed services. As a rule, this is therapeutic and orthopedic dentistry. The most popular services in this segment are the treatment of caries, pulpitis and standard prosthetics. The middle class of clinics includes companies with a wider range of services, in some cases with their own dental laboratory.

The above-average class is already full-cycle multidisciplinary network clinics, which have high-tech equipment, their own laboratories and even training centers. They represent the whole range of services at once: therapy, surgery, orthopedics, children's reception, periodontology, implantation, diagnostics, prevention, orthodontics, etc. Experts note the greatest competition in this market segment. To expand the client base, they use advertising, PR campaigns, attract customers with profitable bonuses: cumulative discounts, corporate programs, package service conditions, and even free social promotions.

A feature of multidisciplinary clinics is their focus on the middle class with parallel admission of patients from other segments.

The introduction of payment by installments and the cooperation of large clinics with banks on a lending system encourage the client to use more expensive services and carry out complex treatment. Since 2015, the demand for dental services among patients with middle and lower income levels has decreased, while demand for premium services, on the contrary, has grown.

According to the estimates of the participants in the dental services market, the market in India today is close to saturation in terms of effective demand, however, in terms of the level of demand for dental services, it should take about five years to fully saturate. According to experts' forecasts, in the current conditions the market will develop due to the expansion of the network of large specialized centers.

There are a number of obstacles for new players to enter the service market, associated with large investments in the opening of clinics, a shortage of personnel and the difficulty of obtaining bank loans. The development of the market could go faster with the availability of qualified personnel.

From a life cycle perspective, the orthodontics market is in a growth phase.
...
This is evidenced by:
growth in the volume of consumption of services in monetary terms per capita;
the growth of the market volume in monetary terms in the last decade, the low growth rate is due to the limited income of the population;
formation of culture and experience of applying for orthodontist services;
development of high quality domestic supply;
The growth potential of the market remains quite high.

3.3. Description of consumer preferences

According to the article published in the Electronic Scientific Journal ""Social Aspects of Public Health"" when choosing a dental clinic (including orthodontic) for ...% of patients, the image of the organization is significant, for ...% - medium significant, for ...% - little significant, for ...% - not significant.
...

3.4. Price analysis

The price of orthodontic services is quite high. The most large-scale and costly stages of orthodontic treatment include the elimination of various dental defects, in particular, the correction of the bite.

The cost of orthodontic treatment consists of the following components:
type of orthodontic construction;
materials used for the manufacture of orthodontic structures;
preparation for treatment: before installing any orthodontic structure, it is necessary to remove plaque and calculus from the teeth, treat caries and other dental diseases.
the installation process of the structure;
subsequent designs by an orthodontist;
removal of the orthodontic structure.
...

The cost of treatment with aligners depends on the manufacturer of caps and the terms of the contract with clinics. So the most expensive bite correction (from the initial appointment to the price of aligners) is with the help of Invisalign caps.
...

Part 4. Assessment of factors of investment attractiveness of the market

The most significant positive factors.
...
The most significant negative factors include the following.
...

Part 5. Orthodontics Market Forecast until 2024

An economic crisis is a profound disruption of normal economic activity, which is accompanied by the destruction of habitual economic ties, a decrease in business activity, the inability to repay debts and the accumulation of debt obligations. This is a phenomenon of a market economy, repeating with a certain frequency, and depending on the scale, it can either concern a particular state or be of global importance. The crisis is accompanied by a sharp decline in production, bankruptcy of enterprises, a fall in the gross national product, a large-scale increase in unemployment, and often a depreciation of the national currency.
In the first half of 2020, many markets felt the impact of the pandemic and the onset of the economic crisis.

The most significant difference between the current crisis and the previous ones is the introduction of quarantine and self-isolation, in connection with which some consumers switched to saving mode, including on orthodontic services.
According to the Assistant to the President of India, Maxim Oreshkin, the fall in world GDP will be much deeper than it was during the 2008-2009 crisis, in fact, this is the first time since the Second World War that this is a crisis of such volumes. The Indian economy has come much more prepared for this situation, so ""there are resources that can stop some of the problems.""
...

The government has prepared a three-stage plan for economic recovery until 2022. A complete lifting of restrictions on businesses is scheduled for the end of 2021.
The government intends to implement the plan by the end of 2021 in three stages:

stage of adaptation. End of Q2 - 3 sq. 2020 At this time, the authorities are obliged to stabilize the situation in the most affected areas and prevent a recession in others. The fall of the economy relative to the 2nd quarter. 2020 must end;

Recovery stage. 4 sq. 2020 - Q2 2021 At this time, the government should ensure the restoration of economic growth and incomes of Indians. By the end of Q2. By 2021, no more than 20% of the regions were in the third stage of lifting sanitary restrictions. The economy should begin “sustainable growth”: real money incomes of the population should not be lower than 98% of the 2019 level;

Stage of active growth. 3 - 4 sq. 2021 At this time, the country's economic growth should aim for ""above global rates."" During this period, the full opening of the business will take place, taking into account long-term sanitary and epidemiological requirements.

However, at the same time, it should be noted that the government's plans regarding the pace and timing of economic growth after the crisis quite often do not come true.
...

In the spring of 2020, according to dentists, the dental market has undergone radical changes. Clinics have the right to accept only patients with acute toothache and treat those who were started before the introduction of restrictions. In addition, the people themselves, for security reasons, tried not to visit medical institutions unless absolutely necessary. Some patients who paid for dental treatment in advance often asked for a refund instead of prosthetics or implants. As a result, the flow of customers decreased by about 3-4 times. Moreover, those few who still sought the help of dentists were limited to only the most necessary services. The “post-coronavirus” dental market will be very different from the current one. Companies will have to cut costs as much as possible and work on the verge of payback.
...

Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations to existing market operators

During 2012-2019 The volume of the orthodontics market in monetary terms has steadily increased. At the same time, after 2016, a slowdown in growth rates was noted, which is associated with a decrease in the purchasing power of the population, as well as a decrease in real incomes of the population.
...

The orthodontics market is represented by a large number of players, including narrow-profile and multi-profile clinics, clinics with public and private ownership, and private offices.
...

GidMarket analysts predict ...
...

When developing a marketing strategy, operators of the orthodontic services market are advised to pay attention to the fact that the orthodontic services market in India is at a growth stage and communication activities such as:
...

Planning and forecasting of orthodontic treatment must comply with market requirements and emerging trends in the development of dental institutions, which include:
work of highly professional highly specialized specialists;
high technical and innovative equipment;
responsibility for the quality of care.

By focusing on these indicators, the performance of the Indian orthodontic market can be optimized, thereby facilitating their strategic development and adaptation to changing economic conditions.

Diagrams

Diagram 1. Types of paid dental services, %
Diagram 2. Dynamics of the market volume of orthodontics services, 2012 - 2019, billion Rs.
Diagram 3. Orthodontics market structure by types, %
Diagram 4. The structure of the provision of orthodontic services in India by region,%
Diagram 5. Dynamics of the population of India, as of January 1, 2012-2020, million people, thousand people
Diagram 6. Population forecast in India for the period 2021-2024, million people
Diagram 7. Dynamics of real incomes of the population of India, 2015-2020 (9 months), %
Chart 8. Dynamics of India's GDP, 2015-2020 (Jan.-Sept.),% of the previous year, trillion Rs.
Chart 9. Monthly dynamics of the US dollar against the rupee, 2015-2020, Rs. for 1 US dollar
Chart 10. Dynamics of the inflation rate in India, 2015-2020 (Oct.), %
Diagram 11. Dynamics of the average interest rate on loans to legal entities, 2014-2020, %
Diagram 12. Profitability before tax (profit of the reporting period) in the field of orthodontics in comparison with all sectors of the Indian economy, 2012-2019, %
Diagram 13. Current liquidity (total coverage) in the field of orthodontics for 2012-2019, times
Chart 14 days
Diagram 15. Shares of the largest competitors in the orthodontics market in 2019
Diagram 16. Dynamics of revenue volume of the largest orthodontics market operators (TOP-5) in India, 2012-2019, million Rs.
Diagram 17. Consumption of orthodontic services per capita, 2012-2019, Rs./person
Figure 18. Orthodontics market life cycle stage
Diagram 19. Significance of the clinic's image, %
Diagram 20. Importance of reviews about a doctor, %
Diagram 21. Significance of having a doctor's certificate for providing services, %
Diagram 22. Significance of the details of the explanation of the diagnosis and treatment methods,%
Diagram 23. Significance of the cost of services, %
Diagram 24. Forecast of the orthodontics market size in 2020 - 2024, billion Rs.

Tables

Table 1. Classification of orthodontic appliances
Table 2. Industrial production index by state of India (in % of the previous year), 2015 - 2019
Table 3. Analysis of the impact on the industry of the state aid proposed to date
Table 4. STEP analysis of factors influencing the orthodontics market
Table 5. Gross Margin of the Orthodontics Industry Compared to All Industries in India, 2015-2019, %
Table 6. Absolute liquidity in the field of orthodontics in comparison with all sectors of the Indian economy, 2012-2019, times
Table 7. Financial stability (security of own working capital) in the field of orthodontics in comparison with all sectors of the Indian economy, 2015-2019, %
Table 8. The main companies participating in the orthodontics market in 2019
Table 9. Basic information about the participant in the orthodontics market Network of clinics ""XXX""
Table 10. Basic information about the participant in the orthodontics market Network of clinics ""XXX""
Table 11. Basic information about the participant in the orthodontics market Network of clinics ""XXX""
Table 12. Basic information about the participant in the orthodontics market Network of clinics ""XXX""
Table 13. Basic information about the participant of the orthodontics market ""XXX""
Table 14. Primary consultative examination of the patient at the dentist, Rs./visit
Table 15. Estimated prices for aligners treatment, Rs.
Table 16. Assessment of factors of investment attractiveness of the orthodontics market

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