Market Challenges And Opportunities
| Restraints & Challenges: |
- High costs and limited reimbursement
- Risk of recurrent tooth decay
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Global Stainless Crowns Market Drivers:
- Increasing prevalence of dental diseases: Rising prevalence of dental diseases like tooth decay, periodontal diseases, and tooth loss is a major factor driving the global stainless crowns market. For instance, in January 2021, according to data published by Centers for Disease Control and Prevention (CDC), in United States by age 8, over half of children (52%) have had a cavity in their primary (baby) teeth. Moreover, 1 in every 4 adults aged 20 to 64 has cavities. This high incidence of dental diseases is leading to an increased demand for stainless crowns procedures to treat damaged teeth.
- Growth in cosmetic dentistry: The stainless crowns market is driven by the growing adoption of cosmetic dentistry globally. Cosmetic dental treatments are used to improve dental aesthetics through procedures like teeth whitening, reshaping, bonding, implants, and stainless steel crowns. According to American Academy of Cosmetic Dentistry 2022, the cosmetic dentistry industry reached over US$31 Bn in 2021 in the U.S. The desire to improve smile aesthetics is increasing demand for cosmetic stainless crowns.
- Technological developments: Continuous advances in material sciences and computer-aided technologies are favoring the growth of stainless crowns market. CAD/CAM (Computer-Aided Design and CAM stands for Computer-Aided Manufacturing) technologies help dentists provide custom-made stainless crowns with superior accuracy and precision. The development of high-strength ceramic and zirconia materials also enables dentists to provide more durable and aesthetic crowns. These technological developments are expected to increase adoption of modern stainless crowns. For instance, on April 26, 2023, HKU Dentistry, The Faculty of Dentistry at The University of Hong Kong developed a novel smart manufacturing on dental crowns by using generative artificial intelligence (AI) that leverage dental manufacturing technology. The researchers developed a generative AI algorithm that uses a true three-dimensional (3D) deep learning approach, thus producing personalized dental crowns with high accuracy that mimic the morphology and match the materials that are required for the biomechanics of natural teeth.
Global Stainless Crowns Market Opportunities:
- Growing market demand in emerging economies: There are significant untapped opportunities for stainless crown manufacturers and service providers in emerging economies like China, India, Mexico, Brazil, and others. These countries have large populations with increasing incidence of dental diseases, rising disposable incomes, and greater awareness regarding the benefits of stainless crowns. Market players can tap into this underserved market potential by offering cost-effective stainless crown solutions.
- Development of discounted crowns: Manufacturers can develop relatively affordable stainless crown products to target price-sensitive customer segments across emerging economies and rural areas. Offering discounted stainless steel crowns can help increase adoption among low and middle income demographics. This can substantially boost sales volume and revenue growth.
- Expansion of Dental Benefits: The expansion of dental benefits for Medicaid beneficiaries represents a significant opportunity for both the healthcare industry and the beneficiaries themselves. This expansion holds the potential to address long-standing disparities in dental care access and improve overall oral health outcomes. For instance, on April 3, 2023, the Michigan Department of Health and Human Services (MDHHS), announced that it have expanded dental benefits for adult Medicaid beneficiaries and increased rates for dental providers. This redesigned benefit will directly help beneficiaries by increasing access to services, thereby enhancing care coordination and improving health outcomes.
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