by The global dental market involves the manufacturing and distribution of dental consumables, dental equipment and dental implants. Dental consumables include teeth whitening agents, prophylactic pastes, dental impression materials and bonding agents. Dental equipment includes systems that are used for dental radiography such as X-ray machines, CAD/CAM installations, dental chairs and lighting solutions. Dental implants involve artificial tooth roots that are surgically placed into the jaw to replace missing teeth. The rising prevalence of dental diseases such as dental caries and periodontal diseases have increased the demand for dental hygiene and treatment procedures globally. According to the US Centers for Disease Control and Prevention, dental carries remains the most common chronic disease among children aged 5-19 years.
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 Dynamics
Rising Prevelance of Dental Diseases: As mentioned in the heading, the rising prevalence of dental diseases due to changing lifestyle and diet habits has been a key driver boosting the growth of the dental market. The consumption of sugar-rich foods and drinks has led to an increase in tooth decay and oral health issues globally. Additionally, the popularity of dental aesthetics such as dental veneers, crowns, and implants has augmented the demand of dental procedures over the years.
Changing consumer preferences: Changing consumer preferences towards oral hygiene and aesthetics is another factor fueling the market growth. Increasing awareness about oral healthcare and technological advancements in dental equipment/implants have made dental procedures more affordable and accessible to general population. Rise in medical tourism in emerging nations coupled with rapid urbanization are also boosting consumer spending on dental healthcare.
Segment Analysis
The global dental market is segmented into dental consumables, dental equipment and dental implants. Among these, the dental consumables segment holds the major market share of around 60% owing to repeated use of dental consumables like dental burs, impression materials, endodontic materials and prosthetic materials during various dental procedures. The segment is further divided into dental burs, dental restorative materials where dental burs dominates the segment with its wide application.
PEST Analysis
Political: The dental market is governed by regulations pertaining to dental materials, equipment safety and infection control practices. Favorable reimbursement policies for dental treatment procedures are propelling the market growth.
Economic: Rising disposable incomes and growing focus on oral healthcare is fueling the demand for advanced dental products and services. Increasing prevalence of dental diseases owing to changing lifestyles is a key factor boosting the market.
Social: Rising oral hygiene and dental aesthetics awareness among the public is driving more patients to seek dental treatments. Growing geriatric population susceptible to dental issues also contributes to market revenues.
Technological: Manufacturers are continuously focusing on developing innovative dental materials, equipment and designs to offer advanced treatment solutions. CAD/CAM technology for restorations and 3D printing for implants are gaining popularity.
Key Takeaways
The Global Dental Market Demand is expected to witness high growth over the forecast period owing to prevalence of dental diseases.
Regionally, North America dominates the market currently due to availability of advanced dental procedures and services. Asia Pacific is poised to be the fastest growing market due to rising dental tourism coupled with growing dental expenditure.
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. Increasing dental consolidations and strategic collaborations among these market players are aiding their regional expansion plans to strengthen market presence.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
