Dental Turbine Market is Estimated to Witness High Growth Owing to Rising Dental Surgeries
The dental turbine is a rotary dental handpiece used in dentistry for several procedures such as cutting tooth structure during cavities, shaping restorations, and finishing restorations. It makes use of compressed air to spin the drill bit at high speeds for carefully shaping teeth. The dental turbine enables precise cutting and is commonly used by dentists for procedures like cavity preparation, crown preparation, and root canal entry.
The global dental turbine market is estimated to be valued at US$ 115.9 Mn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising Dental Surgeries- One of the key drivers driving the growth of the dental turbine market is the rising number of dental surgeries across the globe. As per the American Dental Association National Health and Nutrition Examination Survey (NHANES), in 2021 dental procedures have increased by over 9.2% compared to 2019 levels. Procedures like dental restoration and endodontic (root canal) therapy require the use of dental turbines for cavity preparation and access. Thus, growing dental procedural volumes are expected to propel the demand for dental turbines over the forecast period.
Precise Cutting Ability - Dental turbines enable precise and controlled cutting during dental procedures compared to other rotary dental handpieces. They provide optimum cutting without damaging the surrounding teeth structure. The ability to efficiently shape with accuracy favors their use among dentists. Hence, attributes like precision cutting are augmenting their adoption rate among dental practitioners.
SWOT Analysis
Strength: The dental turbine market has high potential for growth owing to increasing dental issues and rising awareness regarding oral hygiene. Three key technological advancements such as compact size, enhanced precision and versatility have made turbines popular among dentists.
Weakness: High costs associated with dental turbines and maintenance needs may limit their adoption in price sensitive regions. Lack of reimbursement policies for complicated dental procedures in some countries is another challenge. Maintaining sterility and replacing expired components increases operational expenses.
Opportunity: Growing geriatric population prone to dental problems presents an opportunity for market expansion. Favorable reimbursement schemes and insurance policies in developed nations will boost the market. Rising disposable incomes in emerging countries encourages people to spend more on dental care.
Threats: Availability of cheaper alternatives like handpieces poses pricing pressure on established turbine manufacturers. Stringent regulations pertaining to product approval may delay new product launches. Unfavorable changes in reimbursement policies can negatively impact the demand.
Key Takeaways
Global Dental Turbine Market Growth is expected to witness high growth at a CAGR of 24% during the forecast period of 2023 to 2030. The market size is projected to increase from US$ 115.9 Mn in 2023 to US$ 720.1 Mn by 2030.
Regional analysis
North America currently dominates the global dental turbine market owing to higher acceptance of advanced dental technologies and procedures. Europe also captures significant market share due to rising dental expenditures and availability of favorable reimbursements. Asia Pacific is projected to offer lucrative opportunities with growing medical tourism along with rising oral healthcare spending in China and India.
Key players
Key players operating in the dental turbine market are BP Plc, Royal Dutch Shell Plc, Total SE, Chevron Corporation, ExxonMobil Corporation, Engie SA, RWE AG, ON SE, Vattenfall AB, Gazprom, Mitsubishi UFJ Financial Group (MUFG), JPMorgan Chase & Co., Goldman Sachs Group, Inc., Citigroup Inc., and Barclays PLC. These established companies are focused on developing reliable and efficient turbine systems to strengthen their market position.
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