The global Dental Market is estimated to be valued at US$ 36609.25 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Dental involves products that are important for maintaining oral health and addressing dental problems. Dental products include dental implants, crowns, bridges, dental prostheses,orthodontic appliances and dental consumables. These products help in teeth restoration, alignment and replacement enhancing an individual's smile, confidence and quality of life.
Market key trends:
One of the key trends in the dental market is the rise of dental tourism. Many people from developed countries are traveling to other countries for dental treatments and procedures due to the lower costs of dental care. This has increased demand for quality dental care services from abroad.Other factors such as increasing awareness about oral health, availability of advanced dental technologies and procedures along with a large pool of untreated dental conditions are also propelling the growth of the global dental market during the forecast period.
Market key trends:
The Global Dental Market has been witnessing high growth due to increasing demand for cosmetic dentistry and dental implants. With growing awareness about oral healthcare and improving aesthetic appearance, there has been a rise in dental treatments like teeth whitening, veneers, and gum surgeries. Moreover, the advancement of technologies such as CAD/CAM systems and 3D printing for dental applications has enabled dentists to provide customized dental solutions to patients more efficiently.
SWOT Analysis
Strength: Presence of prominent players with strong geographical presence and innovative product portfolio.
Weakness: High costs associated with advanced dental treatments and equipment.
Opportunity: Growth in medical tourism industry and rising healthcare expenditure in developing nations.
Threats: Stringent government regulations pertaining to use of dental materials and hazards associated with radiation from dental equipment.
Key Takeaways
The global dental market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period 2023 to 2030, due to increasing dental tourism and number of Periodontal diseases and dental caries.
Regional analysis:
North America dominated the global dental market in 2023, owing to high healthcare spending and early adoption of advanced dental technologies. However, Asia Pacific is expected to witness fastest growth over the forecast period due to improving access to dental care and increasing medical tourism in countries like India, Thailand, and Malaysia.
Key players:
The major players operating in the dental market are Straumann Group, Zimmer Biomet Holding, Inc., Danaher Corporation, Dentsply Sinora Inc., BioHorizons IPH, Inc., Henry Schein, Inc., Osstem Implant Co. Ltd., Avinent Implant System, A-Dec Inc., Nobel Biocare, Sonoma Pharmaceuticals, Inc, and Nexa3D. These key players are focusing on strategic acquisitions and partnerships to consolidate their market position.
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