Dental Equipment & Consumables Market is set to grow from its current market was valued at over USD 20 billion in 2019 to USD 35 billion by 2026, according to a new research report by Global Market Insights.
Growing demand for cosmetic dentistry procedures and increasing frequency of medical tourism is anticipated to drive dental equipment and consumables market growth over the forthcoming timeframe. Rising occurrence of several oral health issues and dental disorders is expected to drive dental equipment & consumables adoption across developed as well as developing countries.
Increasing geriatric population has spurred a significant rise in the number of oral and dental disorders, which is slated to boost the demand for dental equipment and consumables over the projected timeframe. Based upon 2017 World Population Ageing data, the demographic of geriatric population was approximately 382 million globally. This number is further expected to double, reaching approximately 2.1 billion by the year 2050.
The elderly population is extremely prone to oral and dental disorders owing to vitamin deficiency, which would ultimately impel the overall dental equipment and consumables demand. Moreover, dental complications are some of the most commonplace wellbeing issues that are experienced by the elderly. These aforementioned factors are thereby projected to drive dental equipment & consumables market growth over the coming years.
Dental consumables include dental prosthetics, dental syringes, dental anaesthetics and endodontics among others. Consumables segment will witness around 5% CAGR during the forecast period. Rising number of dental procedures will stimulate the overall market progression coupled with increasing usage of dental prosthetic products. Consumables are affordable and readily available that further surges the segmental demand. Furthermore, dental consumables are a set of various dental products that are used in the treatment of tooth restoration, dental impairments and treatment associated with gingival tissues. Continuous advances and growing awareness regarding oral and dental treatment will drive industry growth over the forecast period.
Based on end-use, the dental equipment & consumables market is segmented into ambulatory surgical centres, hospitals, dental clinics, and others. The hospitals segment accounted for over 22% revenue share in 2019 owing to growing demand for dental equipment and consumables in hospitals. Increasing demand is contributed by advanced healthcare facilities with innovative dental and medical equipment coupled with increasing cases of dental disorder procedures worldwide. Moreover, availability of advanced technologies such as lasers, CAD/CAM technology and dental X-rays, especially in developed countries will further boost the segmental growth.
U.S. dental equipment & consumables market is poised to witness around 4% CAGR during the analysis period. Rising number of patients with dental disorders and increasing spending on cosmetic surgeries will foster the industry growth of the country. Moreover, presence of prominent business players in the North America region coupled with surged spending on dental care fosters business expansion.
Some of the notable market players operating in the dental devices and consumables include Danaher, BioLase, Dentsply Sirona, A-Dec, GC Orthodontics America, Midmark, Carestream Health, Acteon, Planmeca OY and VATECH. The dental equipment & consumables market players operating in dental equipment & consumables industry are implementing various strategies including product innovations as well as partnerships to gain competitive advantage. For instance, in March 2018, Dentsply Sirona and North American Dental Group entered into a strategic partnership. This partnership enhanced the product base and helped in increasing its total business revenue share.
Source: – https://www.gminsights.com/pressrelease/dental-equipment-and-consumables-market