Dental Consumables Market to reach $55,584 million in 2023, at CAGR of 5.2%
Pune, Maharashtra, India, December 16 2020 (Wiredrelease) Allied Analytics –:The global dental consumables market was valued at $38,921 million in 2016, and is projected to reach $55,584 million in 2023 at a CAGR of 5.2% from 2017 to 2023. North America accounted for more than one-third share of the global market in 2016, and is expected to remain dominant throughout the forecast period.
Increasing demand for minimally invasive dental procedures, growing incidence of dental disorders, and rising trend of dental tourism in developing countries are expected to propel the growth of the global dental consumables market.
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high cost of dental products along with very limited reimbursement hampers the growth of the market. On the contrary, rise in demand for dental cosmetic procedures and increase in awareness about proper dentition are expected to provide lucrative opportunities for the market players in the near future. High prevalence of dental diseases among geriatric population, surge in dental tourism across emerging economies, and increase in demand for minimally invasive dental procedures drive the growth of the global dental consumables market. Moreover, increase in awareness about oral hygiene supplements the market growth.
According to the report, the global dental consumables market accounted for $41.06 billion in 2016 and is projected to reach $55.58 billion in 2023, registering a CAGR of 5.2% during the period 2017–2023. The research provides a detailed analysis of the industry dynamics, key market segments, market size & estimations, top investment pockets, and competitive landscape.
The report splits into product, material, and region. Based on product, the report is divided into dental implants, dental prosthetics, endodontics, orthodontics, periodontics, retail dental care essentials, and other dental consumables. The report provides in-depth analysis of each segment by dividing it segment into various sub-segments to offer reader valuable insights about the market.
Retail care essentials segment occupied the largest share in 2016, followed by dental implants, owing to high usage, applicability, and availability of retail care essential products such as toothbrush, toothpastes, and others. Furthermore, dental prosthetics segment is expected to grow at a high CAGR of 11.2% from 2017 to 2023. This is attributed to increase in number of dental restoration procedures across various regions due to low focus on oral hygiene.
Key Findings of the Dental Consumables Market:
Retail dental care essentials segment accounted for more than three-fifths share of the global dental consumables market in 2016.
Orthodontics segment is expected to grow at a CAGR of 8.2% from 2017 to 2023.
Crown segment accounted for more than two-fifths share of the dental prosthetics market in 2016.
Dental wash solutions segment is expected to grow at a CAGR of 4.5% from 2017 to 2023.
Metals segment accounted for around three-fifths share of the global dental implants & prosthetics market in 2016.
Europe accounted for nearly two-fifths share of the global market in 2016.Asia-Pacific is expected to grow at the highest CAGR of 7.6% from 2017 to 2023.
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North America accounted for more than one-third share of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to the increase in incidence of dental diseases, growth in geriatric population, rise in patient awareness about the availability of treatment options, and favorable reimbursement framework in the region. In addition, high adoption rate of dental consumables and presence of highly sophisticated healthcare infrastructure are expected to present new growth opportunities to the players in this market.
Torchbearers of the market
The major market players analyzed in the report include 3M Company, Danaher Corporation, Institut Straumann AG, Koninklijke Philips N.V., Procter & Gamble, Colgate-Palmolive Company, Dentsply Sirona Inc., Ivoclar Vivadent, OSSTEM IMPLANT Co., Ltd., and Zimmer Biomet Holdings, Inc.
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