The Global Dental Consumable Market is all set to get bigger with a moderate CAGR of 6.5% during the forecast period (2016-2024), reports Market Research Future (MRFR). Dentistry is one of the oldest profession with its inception dating back to almost 7000 years. But the last few centuries have witnessed the segment evolving. Since the 1700s, technological advancements started defining the profession and opening up avenues for prospects. And with it, the dental consumables market started soaring high.
Driver and Restraints:
The growing geriatric population is one huge factor that is expected to drive the market further. They are more prone to dental disorders and tooth loss which can augment the need for dental consumables.
Dental tourism is also on the rise. Countries such as India, Turkey, and Hungary are becoming a desired destination for such healthcare treatments. At the same time, it incurs low cost making it favorite among customers from upcoming economies. Better technology and minimal government intervention regarding this segment are expected to make these countries a hot spot for such tourism.
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Increasing disposable income is also playing a crucial role in uplifting the lifestyle preferences where the people are more concerned about better oral hygiene. In addition, the growing success of dental implants is also giving air to the demand for dental consumables.
Poor eating habit is also a major factor that is giving rise to the overall dental care industry. As per the reports published in 2012 by World Health Organization (WHO), 60-90% of school children and nearly 100% of adults had dental cavities, and almost 20% of the middle-aged population has reported periodontal diseases.
However, the market can experience impediment owing to weak reimbursement policies in this sector during the forecast period.
The global dental consumables market owing to the presence of major international and regional brands is highly fragmented. The vast range of products they showcase make the market competitive. The key factors that influence their strategies are procedure cost, device cost, insurance, and duration.
The key players influencing this market are 3M, Henry Schein, Straumann, Septodont, KERR Corporation, EnvisionTEC, GC orthodontics, Patterson Dental, and others.
Dental Consumable Market Trend:
The recent announcement made by Amazon regarding its exclusive venture in the healthcare sector has raised a few eyebrows as the e-commerce giant may disrupt the existing business structure by challenging the prevalent cost structure of various instruments.
New technological advancement can be seen in form of Heke Dental’s W&H Primea Advanced Air turbine easing up myriad procedures such as crown and bridge preparations, removal of composites, and others.
The industry is also experiencing innovations in equipment from 3D printer to biocompatible resins. Formlabs has introduced solutions that would allow personalized surgical planning.
The global dental consumables market can be segmented by type which includes dental implants, dental prosthetics, dental restorative material, dental regenerative material and others. Dental implants dominate the market mostly by generating the maximum market revenue. The implants are biocompatible, osseointegrated, and durable and are driving factors for the segment. In recent times, laser treatment has seen a rise in demand and is also helping the sector to grow further at a rapid rate.
Geographically, the global dental consumables market include North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Europe is currently dominating the market owing to a rise in the geriatric population needing oral care. The market is also experiencing a pat on the back from various organizations as they are funding more for the betterment of the technical aspects and expansion of the oral care facilities. The treatment also invites low cost influencing the patients further.
North America is a region that acclimatizes with the latest trends pretty fast. Hence, the dental consumables market is expanding here at a rapid pace. In addition, the region is also investing heavily in healthcare furthering the growth of the market.
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APAC region is expected to grow with fastest CAGR owing to its minimal government interventions and rising dental tourism. The large population base is also a significant factor that can improve the market scenario during the prognosis period.
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