Dental Caries and Endodontic Market to Face a Significant Slowdown in 2020, as COVID-19 Sets a Negative Tone for Investors
VALLEY COTTAGE, N.Y. – Market leaders in the global dental caries and endodontic market are actively making acquisitions for expanding their product and services platform. Acquisition of leading regional players by global industries has resulted into consolidation of dental caries industry. The global dental caries and endodontic market is projected to register 5.5% CAGR during the forecast period 2017 to 2027, according to a report by Future Market Insights (FMI). In 2017, the market was evaluated at revenue worth US$ 24,334.5 Mn; by 2027 this number is estimated to surpass US$ 40,000 Mn.
Dental Reconstruction to Remain Dominant Product in the Market
On the basis of product type, dental reconstruction will remain dominant in the market, expanding at 5.8% CAGR through 2027. Crowns sub-segment of dental reconstruction product is estimated to reach US$ 8,380 in revenue Mn by 2027-end. Dental restoration is expected to be the second largest product in the market, with sales anticipated to surpass US$ 7,000 Mn in revenue by 2027-end.
Although specialised dental hospitals will remain the most attractive end-user in the market, dental clinics are expected to witness fastest growth in demand by 2027-end. Revenue generated by specialised dental hospitals is expected to reach US$ 9,334.7 Mn in 2017. Dental clinics are expected to exhibit 6.7% CAGR in the market through 2027.
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North America to be Most Attractive Region in Global Dental Caries and Endodontic Market
North America is expected to register the highest CAGR in the global dental caries and endodontic market, to reach revenue worth US$ 17,278.3 Mn by 2027-end. Following North America in terms of CAGR are Asia Pacific Excluding Japan (APEJ) and Latin America. Western Europe is expected to be second largest region for growth of the market. Revenue from market in this region is expected to reach nearly US$ 11,000 Mn by 2027-end.
CAD/CAM technology is being gradually implemented into dentures and implants in North America, improving accuracy of manufacturing and offering output with an increased efficiency. In addition, number of trained dentists for implant placement is growing significantly in this region. Expanding patient volume in this region has driven demand for high-margin dental consumables including dental implants, endodontic, caps and bridges. These factors are expected to drive market growth in North America.
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However, factors such as constantly evolving dental care technology attributed to rapid changes in dental care practices and size of local dental care market is making patient decisions complicated. In addition, ban on advertisements of dental products makes it difficult for patients in searching for better products in the market. Such factors are expected to hinder market growth in North America.
Growth of In-bound Dental Tourism Expected to Propel Market Growth in Western Europe
Increasing awareness about oral health in Western Europe is leading toward increasing per capita dental expenditure, even though public healthcare coverage from dental services is decreasing. Dental tourism is considered to be an imperative sector of the expanding medical tourism industry. In-bound dental tourism is witnessing a rise in Western Europe, These factors are driving market growth in this region. However, uncertainties in European Union’s economic conditions has reduced the number of dental procedures in Western Europe.
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Moreover, entry of low-cost competitors in European market has compelled manufacturers in lowering the cost of their products. Such factors are expected to restrain growth of the dental caries and endodontic market in Western Europe.
Key players identified in FMI’s report include Dentsply Sirona Inc., 3M Company, Coltene Group, SHOFU Inc., Essential Dental Systems Inc., Danaher Corporation, Zimmer Biomet Dental, Straumann AG, Henry-Schein Inc., Altatec Medizintechnik GmbH & Co. KG, Essential Dental Systems, Inc., O.M.S. SpA, Alpha Dent Implants Ltd, HI-TEC IMPLANTS LTD, Conmet LLC, DiaDent Group International, J. Morita Corporation, IDS Co., Ltd., Shofu Inc., Hiossen Inc.
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