February 29, 2024

The Growing Dental Market Is Driven By Increasing Prevalence Of Oral Diseases

The dental market includes a wide range of products such as dental consumables, dental equipment, dental implants, dental prosthetics and dental digital imaging equipment. Dental consumables include dental burs, impression materials, endodontic materials, dental prosthetic materials such as crowns, bridges, veneers, dental cement and bondings. Dental equipment includes dental drills, intraoral cameras, dental lasers, dental x-ray systems, 3D dental mapping systems, sterilization devices and dental chairs. Dental implants provide sound foundation for dental prosthetics and aid in restoring functionality of missing teeth. They offer long lasting restoration of damaged teeth and offer advantages like preserving bone volume and surrounding soft tissue structure. Dental prosthetics are used to restore oral health and aesthetics and have applications in replacement of missing teeth, realignment of crooked teeth, closing gaps between teeth and improving smile. The growing prevalence of oral diseases such as dental caries, periodontal diseases and oral cancers has increased the demand for dental products and procedures across the world.

The global Dental Market is estimated to be valued at Us$ 36609.25 Mn in 2023 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

 

One of the key trends in the dental market is the increasing adoption of dental digital imaging systems and guided dental surgery. 3D dental X-ray imaging and cone beam computed tomography provide high resolution images to accurately diagnose oral health issues. Guided dental implant surgery uses 3D dental scanners and surgical guides for accurately placing and restoring dental implants. This minimizes risks of nerve damage and improves restoration outcomes. Another trend is rising demand for dental lasers for performing non-invasive procedures such as tooth whitening, soft tissue removal and dental wound healing. Dental lasers offer benefits like minimal pain, less bleeding and faster recovery over conventional procedures. Growing focus on dental aesthetics is driving higher usage of dental veneers, crowns and bonding for closing gaps and improving smile appearance.

 

Porter’s Analysis

 

Threat of new entrants: Low barrier to entry but high capital investments required for dental clinics and equipment.

Bargaining power of buyers: Moderate bargaining power for consumers to choose providers and negotiate prices but dental services are necessity.

Bargaining power of suppliers: Few key suppliers for dental consumables and equipment can influence pricing and influence buying decisions.

Threat of new substitutes: Limited number of substitutes available for dental care and therapies.

Competitive rivalry: High competition between large number of players providing differentiated and specialized care.

Key Takeaways

The Global Dental Market Demand is expected to witness high growth.

 

Regional analysis:

 

North America region dominated the market owing to rising dental tourism and better reimbursement programs. Europe is expected to grow at a steady pace over the forecast period.

Key players operating in the dental market are Cargill, Inc., PT Astra Agro Lestari Tbk, Wilmar International Ltd, Malaysian Soy oil & palm oil Council (MPOC), Carotino Sdn Bhd, Yee Lee Corporation Bhd, IOI Corporation Berhad, Archer Daniels Midland Company, Dow DuPont Inc., and Guangxi Long’an Ruifeng Industrial & Trading Co., Ltd. Rising consolidation is expected with large players focusing on orthodontics and advanced dental technologies.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it