Market Overview
The global dental market involves products and services used for dental and oral healthcare. The market covers products such as dental implants, dental prosthetics, orthodontic appliances, dental equipment and dental consumables. Dental healthcare involves treatment of dental issues such as tooth decay, gum disease, oral cancers and dental injuries. Rising prevalence of dental caries or cavities, periodontal diseases and other dental issues have significantly increased the demand for dental treatments worldwide. Hence, the dental market is growing owing to rising awareness and spending on dental healthcare.
According to estimates, the global dental market is expected to be valued at US$ 42173.86 Mn in 2024 and is anticipated to exhibit a CAGR of 6.2% over the forecast period of 2024 to 2030.
Key Takeaways
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. These leading companies are investing heavily in R&D to develop advanced dental materials and innovative dental care technologies. Moreover, strategizing mergers and acquisitions allows them to expand their geographic presence.
The global dental market offers lucrative opportunities owing to the rising demand for dental tourism and cosmetic dentistry. Many people are traveling to low-cost countries for various dental treatments like dental implants, crowns, bridges and orthodontic treatments. Cosmetic dentistry such as teeth whitening and veneers are also gaining popularity worldwide. Furthermore, emergence of low-cost digital technologies and CAD/CAM systems provide opportunities for dental labs and dentists to save costs on dental prosthetics.
Key global players are focused on expanding their presence across emerging markets in the Asia Pacific, Latin America, Middle East and Africa through collaborations with local dental clinics and labs. Rising disposable incomes in developing nations will drive the demand for dental services and products in the coming years.
Market Drivers
A key driver for the Global Dental Market Demand is rising incidences of periodontal diseases and dental caries. According to WHO, oral diseases affect nearly 3.5 billion people worldwide with dental caries in permanent teeth being the most prevalent condition. Significant number of people require dental treatments and surgeries for various oral health issues which drives the demand for dental products and services.
Market Restraints
High costs associated with dental treatments and dental insurance policies limit their access and affordability in many regions globally. Dental procedures and products involving dental implants, crowns, bridges, and orthodontics are quite expensive. Additionally, lack of awareness about oral healthcare remains a key restraint especially in rural areas of developing and underdeveloped nations.
Segment Analysis
Dental market is dominated by dental restorative segment which holds around 30% share. Dental restorative involves restoration of teeth using various materials like dental amalgams, composites, glass ionomers, and other advanced materials. It remains the highest revenue generating segment due to growing incidence of dental caries and other periodontal diseases worldwide requiring dental restoration procedures.
The dental restorative segment is followed by dental prosthetics and orthodontic segments. Dental prosthetics segment involves replacement of missing teeth through bridges, crowns, dentures and implants. Rising edentulous population and increasing dental tourism are major demand drivers for this segment. Whereas orthodontic segment deals with straightening of misaligned or crooked teeth through braces and aligners. Increasing awareness about aesthetic dental solutions especially among younger population is augmenting growth of orthodontic segment.
Global Analysis
North America dominates global dental market with around 40% share attributed to developments dental insurance structure and rapid adoption of advanced dental technologies in the region. Presence dental heavyweights like 3M, Danaher Corporation and Dentsply Sirona in the region has further consolidated its leadership.
Asia Pacific dental market is fastest growing at a CAGR of around 8% during the forecast period. This can be accredited to expanding population base, improving healthcare infrastructure and rising disposable incomes in developing Asian countries like India and China. Additionally, growing medical tourism along with initiatives by dental organizations to spread dental awareness would continue pushing market growth in Asia Pacific region.
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