Dental market is estimated to be valued at USD 10.72 Bn in 2024, and is expected to exhibit a CAGR of 7.3% over the forecast period (2024-2031). Global dental market has been witnessing steady growth owing to the rising incidence of dental disorders and increasing dental tourism. Availability of advanced dental treatments and lower treatment costs in developing countries have augmented medical tourism for dental treatments.
Market Dynamics:
The growth of the global dental market is driven by two key factors. Firstly, there is an increasing demand for cosmetic or aesthetic dentistry procedures globally. With rising incomes and improving standards of living, people are paying greater attention to physical appearance and oral healthcare. Advanced procedures like dental veneers, teeth whitening, and dental implants are seeing higher adoption. Secondly, the market is witnessing rapid consolidation with large players acquiring smaller practices. This allows companies to achieve operational synergies and offer a wider portfolio of dental services. Major players are also investing in new technologies like CAD/CAM for dental restoration to manufacture dental appliances faster and at lower costs. They aim to make state-of-the-art dental care more accessible to people worldwide.
Growing Number of Dental Surgeries and Clinics is Driving the Global Dental Market
The number of dental surgeries and clinics around the world is growing rapidly as dental healthcare becomes more accessible. Countries are investing more in dental healthcare infrastructure to meet the needs of their populations. This rise in the number of dental facilities is a major driver of demand for dental equipment, materials and other products that are required to run these clinics and perform various dental procedures. As more clinics open up, they need to purchase a variety of dental tools, materials, technologies and other assets to treat patients. This growing dental infrastructure is fueling sales in the global dental market.
Increasing Focus on Dental Healthcare and Cosmetic Dentistry
In recent years, there has been a significant increase in focus on dental healthcare and hygiene. People are becoming more aware of the importance of oral health and its link to overall well-being. Moreover, cosmetic dentistry has gained massive popularity as people want brighter, straighter and visually appealing smiles. The desire for aesthetic dental treatments is driving demand for products like dental implants, crowns, veneers, teeth whitening treatments etc. This increased focus on dental healthcare and growing acceptance of cosmetic dentistry procedures is propelling growth in the global dental market.
Budget Constraints Pose Challenge for Market Growth
Despite the rising awareness and demand, budget constraints still remain a major restraint on the global dental market's potential. Dental treatments and procedures often involve significant costs. For many people in developing nations and those without dental insurance, they cannot afford expensive dental care. This financial barrier prevents them from accessing routine dental checkups as well as elective cosmetic procedures. It also limits the ability of dental practitioners to invest in new technologies and upgrade their equipment. Overall, the high cost of dental care compared to average spending power acts as a restraint on the market.
Lack of Access in Rural Areas
Access remains a big issue, especially in remote and rural areas across the globe. The availability of dental professionals and facilities is heavily concentrated in major urban centers. People living in villages and countryside lack nearby options for dental care. Travelling long distances to cities for checkups and treatment forms a barrier. This is a challenge particularly significant in developing countries that are still building up their dental infrastructure. The lack of access to dental care in rural communities represents a major restraint on market potential in global dental sector.
Technological Advancements Open New Opportunities
Constant innovations and advancements in dental technologies present lucrative opportunities for market growth. Cutting-edge tools, modern dental lasers, 3D printed crowns and implants, robotic dentistry systems etc. are improving clinical outcomes and patient experiences. Dental professionals are happy to invest in these innovations to stay updated with the latest techniques. Technological advancements open up new revenue streams for manufacturers and open opportunities to expand the services that dental practitioners can provide.
Link: https://www.coherentmarketinsights.com/market-insight/dental-market-4848
Key Development
- In March 2023, Bien-Air Medical Technologies, a manufacturer of medical devices, announced its partnership with Implantswiss, a dental implant brands of Novodent SA, a dental implant manufacturer. With this partnership, both the companies will continue to improve the lives of dental practitioners as well as enhance the safety of dental professionals and patients.
- In November 2022, Acteon Group Ltd, a medical device manufacturing company, launched its intra-oral camera named C50 at Congrès de l'ADF, a French Dental Association Annual Meeting, held in Paris. The C50 provides dental professionals with extremely sharp images to improve dental treatment workflows. C50 provides greater diagnostic flexibility and improved patient benefits when used in combination with the company's array of imaging software products.
- In February 2021, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, announced that its aim is to create an independent Dental and Spine business to create a new and independent, publicly traded company ‘NewCo’. This will increase the focus of NewCo and Zimmer Biomet to reach the patient’s and customer’s expectations in order to improve quality of life for people across the globe.
Key Players: Straumann Group, Zimmer Biomet Holding, Inc., Danaher, Dentsply Sinora Inc., BioHorizons IPH, Inc., Henry Schein, Inc., Avinent Implant System, Osstem Implant Co. Ltd., Nexa3D, A-Dec Inc., Sonoma Pharmaceuticals, Inc., Nobel Biocare, Benco Dental Supply Company, Carestream Health, Ultradent Products Inc., PLANMECA OY, Ivoclar Vivadent, Mederal Pharmaceuticals Pvt Ltd
