Global Dental Consumables Market - Segmented by Type of Consumable and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global dental consumables market is expected to grow at a CAGR of 7.2% during the forecast period. Dental consumables are the products that are used to treat dental impairments, or for tooth restoration and in the treatment of any associated gingival tissues.
Rising Demand for Cosmetic Dentistry
Factors, fueling the dental consumables market, include shifting trends among patient preferences and the growing demand for cosmetic dentistry. Dental practicing, as well as dental consumables market, has been affected by the increased demand for cosmetic procedures. Furthermore, there has been a significant investment in cosmetic dentistry, over the past five years. According to a research survey, most procedures have experienced a phenomenal growth of 200%. Dental crowns and bridges are the key components for growth, in cosmetic dentistry. Women constitute the majority of the population undergoing cosmetic dentistry, when compared to men. The demand growth has been accelerated mainly by millennials and baby boomers, with millennials accounting for a growing portion of this revenue. Since this group has surpassed the baby boomers, owing to a large portion of the US population, it is expected to accelerate the percentage of revenue and continue to increase over the coming years.
The others factors, such as increasing access to dental facilities, global economic growth, and increase in the aging population, are driving the market.
Very Low Dental Insurance Coverage in Comparison to General Health Insurance
A large number of population does not have dental insurance, in comparison to the general health insurance, around the world. Negligence toward dental care is one of the major factors leading to such a small number of dental insurance coverage. It is reported that 50% of the US citizens are without dental insurance, and around 77% are with dental insurance, but delay their dental care. This shows that a large number of the population remains ignorant toward dental care and give it the least priority. Due to this factor, people do not have insurance coverage and have to pay out of their pocket for dental treatments. This eventually restrains the dental consumables market.
The other factors, such as lack of awareness and apathy toward dental care in developing nations, are hindering the market growth.
Europe Governs the Market
Europe is dominating the dental consumables market, because the geriatric population is increasing in this region, along with the increasing funding for the improvement and expansion of oral health care facilities, across Europe. Asia-Pacific is expected to record a substantial growth over the forecast period.
Key Developments in the Market
January 2018: Young Innovations acquired Mydent International.
October 2017: Henry Schein acquired Merritt Veterinary Supplies.
Major Players: HENRY SCHEIN INC., HU-FRIEDY MFG CO., IVOCLAR VIVADENT AG, NAKANISHI INC., PATTERSON COMPANIES INC., DENTSPLY SIRONA, ULTRADENT PRODUCTS INC., YOUNG INNOVATIONS INC., AND 3M COMPANY, amongst others
Reasons to Purchase the Report
Current and future market outlook for dental consumables in the developed and emerging markets
Analyze various perspectives on the market, with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth, during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the market estimate sheet (in excel)
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