Dental Prosthetics Market
Dental Prosthetics Market (Type - Bridges, Veneers, Crowns, Dentures, Inlays, and Onlays) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023
Press Release :
Global Dental Prosthetics Market: Snapshot
The geriatric population exhibits potentially the highest demand for dental prosthetics. It is therefore much likely for the global dental prosthetics market to gain increased traction as the geriatric population grows worldwide. Additionally, the rising number of dental procedures conducted around the world has tipped scales in favor of the global dental prosthetics market. This however, is triggered by the rising incidence of dental disorders. Besides this, on back of rising disposable income, consumers are willing to spend on advanced dental care procedures, which has aided in the market’s expansion in the last few years. With the steadily growing reimbursement facilities for dental procedures, in the near future the demand for dental prosthetics is expected to scale higher than expected.
It is noted that consumption rate of dental prosthetics is comparatively higher in developing nations. This however is achieved on the back of rising medical tourism. These nations provide advanced healthcare facilities, which is available at a lower price tag hence gaining traction from people around the world. Already a multi-billion dollar industry, the medical tourism sector in developing regions is witnessing a surging demand for dental procedures, which has created an environment conducive to the growth of the dental prosthetics market.
Overall, the global dental prosthetics market, which stood at US$3.5 bn in 2016 is expected to reach US$5.88 bn by the end of 2023, exhibiting a CAGR of 7.6% during the time. On the downside, excessive price competitiveness witnessed in the last couple of years has hindered the market’s trajectory to an extent. Given the scenario players are compelled to offer services at a lower price and provide updated solution. This however creates opportunities for research and development, which could act in favor of the market.
Asia Pacific to Offer Lucrative Opportunities for Market’s Growth
Regionally, the global dental prosthetics market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Exhibiting a CAGR of 8.7% between 2015 and 2023, Asia Pacific emerged as one of the most lucrative markets for dental prosthetics. The rising healthcare spending by governments across emerging nations and proliferation of medical tourism have aided the market’s expansion in Asia Pacific.
Meanwhile, experts project Europe to continue exhibiting the leading consumption of dental prosthetics through the forecast period. The rising geriatric population, which is the key target demographics, is expected to fuel the demand for dental prosthetics in Europe. Besides this, the region witnesses a rising incidence of periodontal diseases owing the rising consumption of junk foods, which has further complemented the growth of the dental prosthetics market in Europe.
Demand for Bridges and Crowns to Remain High Through Forecast Period
By type, bridges, veneers, crowns, dentures, and others (including inlays and onlays) constitute the key segments in the global dental prosthetics market. Before 2023 ends, the dental crowns segment is likely to reach US$2.9 bn. As per studies, crowns and bridges are the most commonly used dental prosthetics as they are easy to use and offer a high degree of aesthetics. Moreover, considering the latest development, patients today can choose crowns made from ceramics, plastics, zirconium, and metal ceramics.
Despite the competitive rivalry among key players, the global dental prosthetics market exhibits a highly consolidated vendor landscape. Some of the leading players operating in the market are DENTSPLY International, Inc., Institut Straumann AG, Nobel Biocare Holdings AG, Zimmer Holdings, Inc., and Biomet 3i.
Global Dental Prosthetics Market: Overview
Various dental prosthetics such as crowns, bridges, and dentures have gained prominence for the replacement of missing or damaged teeth or soft tissues. The rise in geriatric populations across various regions has catalyzed the demand for dental prosthetics. Increasing disposable incomes in numerous developing and developed nations has bolstered the demand for advanced dental prosthetics for improving the function of teeth and enhancing overall aesthetic appearance.
The dental prosthetics market is showing promising growth prospects in developing nations, driven by rapidly burgeoning medical tourism boosting the uptake of advanced methods of prosthetic dentistry. The availability of inexpensive dental procedures and robust dental care facilities in these countries are key factors favorably impacting the market growth. Furthermore, the advent of modern diagnostic imaging systems and automated dentistry practices are expected to turn the dental prosthetics market around. The global market for dental prosthetics is projected to rise at 7.6% CAGR from 2015 to 2023 and is expected to reach US$5.88 bn by the end of the forecast period.
The report offers in-depth insights into the key drivers and restraints, regulatory landscape in major regions, major technological advancements in prosthetic dentistry, share and size of various segments, emerging opportunities, and competitive landscape. The findings in the study offers evidence-based assessment of the market dynamics indispensable for identifying lucrative avenues in various regions.
Global Dental Prosthetics Market: Trends and Opportunities
The growing number of people around the world who need dental care procedures is driving the dental prosthetics market. The rising number of people with acute periodontal diseases, attributed mainly to the lack of proper dental hygiene, has catalyzed the growth of the market. The rising number of elderly populations in developing and developed nations who need dental care is expected to bolster the uptake of dental prosthetics. Furthermore, the rising prevalence of junk foods and the lack of focus among children for taking proper dental care has led to the incidence of dental disorders.
The rising incidence of congenitally missing teeth and increasing prevalence of oral cancer are crucial trends expected to boost the market. The growing use of CAD/CAM software in the area of cosmetic dentistry and the growing prominence of professional dental care in several developing and developed nations are the seminal developments expected to open up scores of exciting opportunities for market players. For instance, the accelerated adoption of these software has improved the functionalities of dental crowns and bridges. In addition, the growing popularity of combined prosthesis as a convenient alternative to fixed prosthesis in patients in case of difficulty in replacing all missing teeth is further anticipated to boost the market.
Global Dental Prosthetics Market: Regional Outlook
Regionally, Europe dominates the global market in the terms of uptake of dental prosthetics and is expected to continue its lead throughout the forecast period. The prominence of this regional market is mainly on account of the rapidly rising geriatric populations in several nations. Meanwhile, Asia Pacific is anticipated to provide lucrative avenues for market players to capitalize on in the coming years. The regional market is expected to rise at a CAGR of 8.7% during 2015–2023. The impressive growth is driven by increasing healthcare spending by governments of emerging countries and the rapidly rising medical tourism in the region.
Global Dental Prosthetics Market: Companies mentioned in the report
The global dental prosthetics market is fairly consolidated with a major presence of several big regional players. Top players opt for collaborations as a key strategy and are focusing on launching advanced prosthetic solutions to gain a competitive edge over others. Leading players operating in the market include Biomet 3i, Zimmer Biomet, Nobel Biocare Holdings AG, Institut Straumann AG, and Dentsply Sirona.
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- The Middle East and Africa
- Latin America
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments