Global Dental Market Is Estimated To Witness High Growth Owing To...

Global Dental Market Is Estimated To Witness High Growth Owing To Increasing Dental Disorders and Growing Aging Population.

Posted 2023-09-27 10:42:44

The dental market is estimated to be valued at US$ 32,156 Million In 2022 and is expected to exhibit a CAGR of 6.7% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The dental market offers a wide range of products and services related to oral health and dental care. These include dental implants, orthodontics, dental crowns and bridges, dental biomaterials, dental consumables, dental equipment, cosmetic dentistry, and dental lab prosthetics. The market caters to the needs of individuals of all age groups, from children to the elderly. With the increasing prevalence of dental disorders such as dental caries, periodontal diseases, and tooth loss, demand for dental treatments and products is on the rise. Additionally, the growing aging population and increasing awareness about oral hygiene are further driving the market growth.

Market Dynamics:
The dental market is driven by two key factors. The first driver is the increasing prevalence of dental disorders worldwide. Dental caries, periodontal diseases, and tooth loss are common dental problems affecting a large population globally. This has led to a rise in demand for dental treatments such as dental implants, dental fillings, and dental prosthetics. The second driver is the growing aging population. With age, the risk of dental problems increases, leading to a greater demand for dental care services and products. Moreover, the increasing awareness about the importance of oral hygiene and aesthetics has also contributed to market growth. The advancements in dental technology and the availability of innovative dental products further support the market expansion.

SWOT Analysis:

Strength: The Dental Market is driven by the increasing prevalence of dental disorders and the growing demand for cosmetic dentistry. Moreover, advancements in dental technology and procedures have improved treatment outcomes, attracting more patients. Additionally, the rising geriatric population and their oral health care needs contribute to the market's strength.

Weakness: One weakness is the high cost associated with dental procedures, making them less accessible for individuals with limited financial resources. Another weakness is the fear and anxiety many people have towards dental visits, leading to a smaller patient pool and delayed dental treatments.

Opportunity: The dental market presents opportunities for growth through the adoption of digital dentistry technologies, such as CAD/CAM systems and 3D printing, which streamline dental procedures and improve efficiency. Furthermore, the increasing awareness and importance of oral health care in emerging economies create opportunities for market expansion.

Threats: The dental market faces threats from alternative treatments, such as home remedies and natural remedies, which may attract individuals seeking cost-effective solutions. Additionally, the COVID-19 pandemic has impacted the dental industry, with temporary closures and reduced dental visits due to safety concerns.

Key Takeaways:

Market size: The global dental market is expected to witness high growth, exhibiting a CAGR of 6.7% over the forecast period (2021-2028). This growth is attributed to factors such as the increasing prevalence of dental disorders and the adoption of advanced dental technologies.

Regional analysis: North America is the fastest-growing and dominating region in the dental market due to the presence of well-established dental care infrastructure, high healthcare expenditure, and favorable reimbursement policies. Moreover, the rising geriatric population and their oral health care needs contribute to the region's market dominance.

Key players: Key players operating in the dental market include Straumann Group, Zimmer Biomet Holding, Inc., Danaher Corporation, Dentsply Sirona Inc., BioHorizons IPH, Inc., Henry Schein, Inc., Osstem Implant Co. Ltd., Avinent Implant System, A-Dec Inc., Nobel Biocare, Sonoma Pharmaceuticals, Inc., and Nexa3D. These companies offer a wide range of dental products and services, contributing to market growth.