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| Global Dental Market |
The global dental market is estimated to be valued at US$ 36,609.25 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
The dental market involves products and services that are related to the overall
dental health and oral hygiene of individuals. This includes dental implants,
dental prosthetics, dental equipment and instruments, dental biomaterials, and
dental digital services. Rising prevalence of lifestyle diseases like diabetes
are increasing risks of oral health issues like dental caries and periodontal
diseases. Growing awareness about importance of oral hygiene and availability
of innovative technologically advanced dental products and services are driving
the growth of this market.
Market key trends:
3D printing technology is gaining rapid adoption in dentistry with uses ranging
from dental crowns and bridges to surgical guides and aligners. Companies are
developing advanced 3D printing materials and technologies customized for
dental applications. Meanwhile, dental laser is emerging as an effective
solution for soft tissue procedures like gum lifting and hard tissue procedures
like caries removal without use of drill. Light therapy is another non-invasive
technology gaining interest for conditions like root canal treatment and
periodontal therapy. Growing convenience of digital dentistry through
teledentistry and advancements in CAD/CAM dental systems are also supporting
market growth.
Porter's Analysis
Threat of new entrants: The threat of new entrants is low as dental market
demands high capital investments for equipment and branding. Establishing and
scaling operations takes significant time and resources.
Bargaining power of buyers: The bargaining power of buyers is moderate. While
large corporate hospitals and dental clinics can negotiate on pricing,
individual buyers have limited influence.
Bargaining power of suppliers: A few large suppliers dominate the market.
However, new suppliers are continuously emerging, balancing out supplier
bargaining power.
Threat of new substitutes: There are limited substitutes for complex dental
procedures. However, over-the-counter products and basic at-home treatments
pose a minor threat.
Competitive rivalry: The market features strong competition among leading
industry players to gain greater share. Companies compete on technology,
quality, service and price.
Key Takeaways
The Global
Dental Market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period
2023 to 2030, due to increasing prevalence of dental diseases and rising dental
tourism. North America dominated the market in 2023, attributed to favorable
reimbursements and growing medical tourism.
The market size for 2023 is estimated at US$ 36609.25 Mn. Rising demand for
cosmetic dentistry to enhance smile esthetics will drive the market
additionally. Advancements in technology are allowing previously complex
procedures to be performed using less invasive techniques.
Key players operating in the dental market are Straumann Group, Zimmer Biomet
Holding, Inc., Danaher Corporation, Dentsply Sinora Inc., BioHorizons IPH,
Inc., Henry Schein, Inc., Osstem Implant Co. Ltd., Avinent Implant System,
A-Dec Inc., Nobel Biocare, Sonoma Pharmaceuticals, Inc, and Nexa3D. Companies
are investing in R&D to develop innovative product lines around implants,
biomaterials and CAD/CAM systems.
Read More: https://www.trendingwebwire.com/dental-market-size-and-share/