Global Dental Consumables Market: Snapshot
Globally, the growing awareness about the better and effective dental treatment has grown the demand for dental consumables market. Moreover, growing dental tourism in countries like India, Hungary, and Turkey has also expand the growth opportunities in the dental consumables market. Services that are included in dental consumables are tooth restoration, related gingival tissues, and treatment for dental impairments. Furthermore, low cost of dental treatments because of less expensive oral healthcare services available in developing economies is also expected to drive the dental consumables market.
Some of the other factors contributing in the growth of the dental consumables market is reducing government intervention in operating healthcare firms and accessibility of improved dental treatment with low labor cost has also benefitted the market growth.
The global dental consumables market is prophesied to rise at 6.1%% of CAGR during the forecast period between 2016 and 2024. The valuation for the market is expected to reach US$33.4 bn by the end of 2020 progressing from US$19.6 bn as estimated in 2015.
Technological Advancements to Benefit Growth of Dental Consumables Market
The report on the global dental consumables market classify on the basis of product that is further divided into dental crowns and bridges, dental implants, dental biomaterials, endodontics, orthodontics, periodontics, and retail dental care essentials. Out of these, the crown and bridges segment is leading the market and is likely to continue its dominance in the coming years.
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The demand for these devices is high as it provides a protective layer on the damaged part of the tooth. Moreover, technological advancements such as CAD and CAM are also driving the market growth. It is also assumed that rising awareness about cosmetic dentistry, large geriatric population, and improving life expectancy across the globe to benefit market growth. Furthermore, resemblance of getting a natural looking tooth by using crown and bridges is also expected to boost demand in the dental consumables market.
Europe Emerges Dominant Due to Increasing geriatric population
Geographically, the regions in which the dental consumables market is divided are Latin America, Europe, Asia Pacific, North America, and Middle East & Africa. Of these regions, Europe is leading the market due to large geriatric population present in the region. Growing awareness about the dental care and rising concerns related to oral healthcare are expected to keep the region on the forefront in the global dental consumables market.
Countries in Asia Pacific are also expected to rise at a steady rate during the forecast period. This is due to the rising dental tourism in the various countries in Asia Pacific. In addition, rising spending by the middle class in oral healthcare is also expected to boost the demand for this market. The rising disposable income, growing awareness in region about the oral healthcare, and growing easy accessibility of oral healthcare in the region are considered some of the major driving the dental consumables market.
The report has also analyzed some of the prominent players and their contribution to the global dental consumables market. To mention some of the prominent players are Institut Straumann AG, DENTSPLY International, Inc., Henry Schein, Inc., Patterson Companies, Ivoclar Vivadent AG, and 3M Health Care. The leading players in the market are expected to take part in mergers, takeovers, and joint ventures.