by The Dental Market is estimated to be valued at US$ 32,156 Million In 2021 and is expected to exhibit a CAGR of 6.7% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The dental market encompasses a wide range of products and services aimed at maintaining oral health and improving dental aesthetics. This includes dental implants, prosthetics, orthodontics, periodontics, endodontics, and dental equipment. With the increasing prevalence of dental disorders such as tooth decay, gum diseases, and oral cancer, the demand for dental treatments and procedures is on the rise. Additionally, the growing aesthetic consciousness among individuals has led to a surge in demand for cosmetic dentistry procedures such as teeth whitening, dental bonding, and veneers. Advancements in dental technology and materials, along with increasing dental tourism, are further contributing to the growth of the dental market.
Market Dynamics:
The Dental Market is driven by several factors, including the rising geriatric population, increasing awareness about oral health, and the growing availability of dental insurance plans. Moreover, technological advancements in dental procedures and materials have enhanced treatment outcomes and reduced patient discomfort. The integration of digital dentistry, including CAD/CAM systems and 3D printing, has revolutionized the dental industry, enabling improved accuracy, efficiency, and customization in dental treatments. Furthermore, the growing demand for minimally invasive procedures and the emergence of implant-supported prosthetics are expected to fuel market growth. However, high treatment costs and a shortage of skilled dental professionals may hamper market growth to some extent.
Segment Analysis
The dental market can be segmented based on product type, end-user, and region.
Based on product type, the dominant segment in the dental market is the dental implants segment. Dental implants are preferred by patients due to their durability, natural appearance, and long-term functional benefits. They offer a permanent solution for tooth loss and are widely used in dental clinics and hospitals. The dental implants segment is expected to continue dominating the market due to the increasing prevalence of dental disorders and the growing demand for aesthetic dentistry.
PEST Analysis
Political: The dental market is influenced by government regulations and policies regarding oral healthcare. For example, the implementation of laws mandating oral health screenings in schools has increased the demand for dental services.
Economic: The economic factors affecting the dental market include disposable income, healthcare expenditure, and insurance coverage. The increasing disposable income and rising healthcare expenditure in emerging economies have contributed to the growth of the dental market.
Social: The social factors influencing the dental market include changing lifestyle patterns and increasing awareness of oral health. The rise in the number of people opting for cosmetic dentistry procedures has fueled the demand for dental services.
Technological: Technological advancements in dental procedures and equipment have revolutionized the dental market. Innovations such as CAD/CAM technology, 3D printing, and laser dentistry have improved the accuracy, efficiency, and patient experience in dental treatments.
Key Takeaways
The global dental market is expected to witness high growth, exhibiting a CAGR of 6.7% over the forecast period of 2021-2028. This growth can be attributed to several factors, including the increasing prevalence of dental disorders, the rise in demand for cosmetic dentistry, and the advancements in dental technology.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the dental market. The region has a well-established healthcare infrastructure, high dental expenditure, and a large patient pool. Additionally, the presence of key market players and ongoing research and development activities contribute to the growth of the dental market in North America.
Key players operating in the dental market include Straumann Group, Zimmer Biomet Holding, Inc., Danaher Corporation, Dentsply Sirona Inc., BioHorizons IPH, Inc., Henry Schein, Inc., Osstem Implant Co. Ltd., Avinent Implant System, A-Dec Inc., Nobel Biocare, Sonoma Pharmaceuticals, Inc, and Nexa3D. These companies have a strong global presence and are focused on product development, mergers, and acquisitions to maintain their market position.
