Dental Hygiene Devices Market Is Expected to Witness Significant Growth Of US$ 5.9 Billion By 2028
According to latest research by Future Market Insights (FMI), the global dental hygiene devices market is projected to account for over US$ 5.9 Bn in terms of value, by 2028 end. The report further projects significant growth potential of the dental hygiene devices market with a CAGR of 4.8% through 2028.
The growth of the global dental hygiene devices market is primarily driven by increasing prevalence of dental diseases and growing number of geriatric populations suffering from dental problems. According to the World Health Organization, dental caries affects 60-80% of the children and adults. Severe periodontitis is found in around 5-10% of the populations. Juvenile periodontitis affects about 2% of the youths.
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The development of healthcare infrastructure across the globe coupled with growing awareness regarding dental hygiene practices are expected to drive the growth of the dental hygiene devices market. The companies operating in the dental hygiene devices market are focusing on developing novel product line to increase their penetration in the market. Dental diseases can vary depending upon social conditions such as poverty, race and social groups. Thus, social inequalities coupled with growing share of population under poverty are also expected to contribute to the growth of the market.
Striking examples of inequalities include the prevalence of tooth decay, which affect 16% of population aged 6-19 years in Japan, but 97% of population aged 12 years in Filipinos. Edentulousness also affects the below poverty much more than the higher income group as the number of missed productivity due to poor oral health is significantly higher for children from lower-income families, ethnic minorities and immigrants. The incidence of dental diseases increases with age as most of the patients suffering from dental diseases are of age 50 and above.
The report assesses the trends driving the growth of each segment of the dental hygiene devices market on the global as well as regional level, and offers potential takeaways that could prove substantially useful for the manufacturers planning to enter the dental hygiene devices market.
Asia Pacific dental hygiene device market accounted for a significant revenue share in 2017, and is expected to be the dominant region in overall dental hygiene devices over the forecast period. China and India dental hygiene devices markets are expected to hold significant shares and to grow at an impressive CAGR owing to the growing population, and growing economic clout. The U.S. market is also projected to expand at a significant rate owing to prosperity of baby boomers and the recovery of the economy. Almost 25% of the U.S. population will be over 60 years of age, according to U.S. Census Bureau data. These baby boomers account for a whopping $7.5 trillion in economic activity per year. According to the CDC data, periodontitis affects 47.2% of adults aged 30 years and older in the U.S. and increases with age, with 70.0% of people aged 65 years and above suffer from periodontal disease. This prosperous population represents the largest market opportunity for the dental hygiene devices market. The report tracks some of the leading companies operating in the dental hygiene devices market, such as Colgate-Palmolive Company, The Procter & Gamble Company, Koninklijke Philips N.V., Unilever plc., Glaxosmithkline plc, Ultradent Products Inc., Johnson & Johnson, 3M Company, Dabur India Ltd., and Dentsply Sirona, among others.
Vendors are targeting mergers, acquisitions and partnerships strategies to leverage economies of scale and scope to compete in the price sensitive environment and overcome the impulse buying behaviour of the customers in the dental hygiene devices market. For example, in 2017, global manufacturer and distributor of dental equipment Young Innovations, acquired American Eagle Instruments, Inc.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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