April 20, 2024
Dental Market

The Dental Market is Estimated to Witness High Growth Owing to Rapid Uptake of Cosmetic Dentistry

The dental market mainly comprises of dental implants, dental bridges, dental crowns, dental veneers, dental materials, dental bone grafts substitutes and other dental products. Dental implants are increasingly being used as an alternative for missing teeth as they provide secure foundation for replacement teeth that look and function like natural teeth. Dental bridges and crowns are commonly used for filling gaps left by missing teeth or repairing fractured/damaged teeth. Dental veneers offer an aesthetic solution for improving appearance of teeth.

The Global dental market is estimated to be valued at US$ 42173.86 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Dental Market are Cargill, Inc., PT Astra Agro Lestari Tbk, Wilmar International Ltd, Malaysian Soy oil & palm oil Council (MPOC), Carotino Sdn Bhd, Yee Lee Corporation Bhd, IOI Corporation Berhad, Archer Daniels Midland Company, Dow DuPont Inc., and Guangxi Long’an Ruifeng Industrial & Trading Co., Ltd.

The key opportunities in the dental market include rising disposable incomes, growing medical tourism sector and increasing focus on preventive & cosmetic dentistry.

The global expansion of the dental market is driven by rising geriatric population, availability of low-cost dental treatments in developing regions and growing dental tourism industry.

Market Drivers

The rapid uptake of cosmetic dentistry is one of the key drivers augmenting growth of the dental market. Growing consumer concerns regarding physical appearance and awareness about cosmetic dentistry treatments are fueling the demand for various aesthetic dental products like dental veneers, dental crowns, dental implants and dental bonding. According to the American Academy of Cosmetic Dentistry, nearly 50% of dental patients today are more focused on aesthetics rather than dental health alone. This increasing emphasis on physical appearance is propelling growth of the global dental market.

PEST Analysis

Political: Regulations around Dental Market Growth treatment standards vary in different countries and states. Stringent regulations ensure quality of dental care delivered to patients.

Economic: Rising disposable incomes and focus on aesthetics are driving higher spending on dental treatments worldwide. During economic slowdowns, non-essential dental procedures may see lower demand.

Social: Greater awareness about oral health and aesthetics has increased focus on regular dental checkups and corrective treatments. Social media is also driving acceptance of advanced dental procedures.

Technological: CAD/CAM technologies, 3D printing and digitally enabled remote dental care delivery have accelerated during the pandemic. These are improving clinical outcomes and access to dental care.

The dental market in terms of value is concentrated majorly in developed regions like North America and Western Europe. Countries like the US, Germany, France and the UK have established dental insurance systems and a higher number of dental clinics per capita. This ensures regular dental checkups and procedures are widely affordable. Rapid economic growth and increasing health spending in regions like Asia Pacific and Latin America are also boosting the uptake of dental treatments.

The fastest growing regional market for dental procedures is expected to be Asia Pacific during the forecast period. Countries like China, India and Indonesia have a large population base with growing disposable incomes and dental awareness. Dental tourism is also bringing demand from other Asian and Middle Eastern countries to major dental care destinations in Asia like Thailand, Singapore and South Korea. Governments are promoting dental insurance to make quality dental care accessible to more people.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it