It is the changing lifestyles, changing perceptions, growing economy and globalisation that has disrupted the consumer behaviour towards dental health.
As they say, smile is a curve that sets everything straight. That’s why a lot of people do not hesitate while spending money on dental braces to correct their crooked teeth to make their smile look heart-warming and welcoming. Not just for enhancing the smile of a person, but dental braces are also helpful in reducing the risks of several oral problems such as pyorrhoea, pain in gums and cheek etc, thereby many people opt for braces.
In a recently conducted study, it has been revealed that about 60-65% of the global population suffers from malocclusion (misaligned teeth) every year. With such a great potential, dental braces market becomes a major attraction for investors and businesspeople.
India’s Dental Braces Market Outlook
India’s dental care market is approximately worth $2 billion dollars and is considered to be one of the fastest growing dental markets in the world. It is the changing lifestyles, changing perceptions, growing economy and globalisation that has disrupted the consumer behaviour towards dental health.
In conversation with Franchise India, Founder of ODS Aligners Dr Swapnil Gupta tells us how dental braces market looks like.
“The dental braces market has a vast scope, but at present is a little less due to lack of awareness. It is needed for well beings health and good oral hygiene. Here, aesthetics is considered important and although, people are more acceptable and open about it now, yet a lot can be done and achieved,” says Dr Gupta.
Dental braces market can be segmented on the basis of product type, position of braces, end user and region. In terms of product type, the market is classified into metal braces, ceramic braces, lingual braces and clear aligners. While the term ‘metal braces’ has been used synonymously with braces in India, the concept of clear aligners is also surfacing the market because of convenience it offers to the customers.
“With the advancement and multiple options available in dental braces, it is considered as a common treatment modality now. Most recent advances in dental braces are clear aligners,” added Dr Gupta.
Talking about how the behavioural changes in the consumers’ outlook towards dental braces, Dr Gupta elaborates, “With time things have changed and there has been a change in consumer behaviour as well. The cost has been an issue, however, the advantages of this modality, not just aesthetics but in the retrospect of overall well-being and the added change it brings in the lifestyle has worked as a boon for this product.”
Franchise Prospects in Dental Braces Market
As mentioned before, the dental braces market has a lot of scope as a large share of population suffers from malocclusion. So, those in the field of dental care might look at the dental braces market as a profitable business idea. While an independent business could also be started, buying a franchise of an already established business could be more profitable. We can say this because of the added advantages of franchising as a business model.
For instance, growing a business at a rapid pace is what every businessperson wants, and that is a little difficult to do if you are starting a business from scratch (unless you have crores of crores to invest!). Franchising, on the other hand, allows an aspirant to opt for a similar business of their interest, and gives them the right to run their business from a specific geographic location.
“Franchise business is probably the best way to get a business like ours to every corner of the country. We already have 6 partners in Bangalore, Ahmedabad, Punjab & Hyderabad. There are few franchisees lined up in Europe and we are expecting to go international very soon”, answered Dr Gupta when asked about their take on franchise as a business model for their dental braces’ brand.
Another factor that makes franchising a great business model for dental braces is that the risk-involved is lesser in franchising. These risks are for both consumers and franchisees. From a consumer’s point of view, a renowned brand is less risky for getting done with their dental treatment. On the other hand, from a franchisee’s point of view, the brand recognition of an established brand makes it a great deal for as they don’t have to build their brand identity and they can enjoy the franchisor’s brand identity to lure the customers.
The fact that you can operate multiple franchises at the same time is an attraction for many start-ups too. They can take the franchise route to expand their business worldwide with the help of aspiring likeminded businesspeople.
In a nutshell, it’s not wrong to say that franchising is here to stay. Since many international and national brands are building and enhancing their network through franchising, it might be the right time to shift your interest in the franchising industry.