Endodontic Consumables Market to Reach $1.71 Bn, Globally, by 2023 at 5.4% CAGR, Says AMR
PORTLAND, Oregon, January 30, 2019 /PRNewswire/ --
Surge in geriatric population, high prevalence of dental disorders, increase in dental tourism, and rise in accident cases are expected to propel the growth of the global endodontic consumables market
Allied Market Research recently published a report, titled, "Endodontic Consumables Market by Product (Endodontic File, Obturator, and Permanent Endodontic Sealer) and End User (Dental Clinic and Hospital & Dental Academic Research Institute): Global Opportunity Analysis and Industry Forecast, 2017-2023". The report provides extensive analyses of the top investment pockets, value chain, driving forces & opportunities, key market players, major market segments, and competitive landscape. According to the report, the global endodontic consumables market was pegged at $1.25 billion in 2017 and is projected to reach $1.71 billion by 2023, registering a CAGR of 5.4% through 2023.
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Increase in geriatric population worldwide, rise in prevalence of dental disorders & ailments, and increase in awareness regarding oral hygiene drive the growth of the global endodontic consumables market. However, time-consuming procedure & multiple sessions, high risk of root fracture and brittle teeth hamper the market growth. On the contrary, technological advacements in root canal procedures such as digital radiography, surgical microscopes, electronic apex locators, ultrasonic units with specific endodontic tips, rotary nickel titanium (NiTi) instruments & new obturation systems as well as ongoing trend of dental tourism in developing countries are expected to create lucrative opportunities for the market players in the coming years.
Endodontic files (root canal treatment) segment to be lucrative through 2023
The endodontic files (root canal treatment) segment held the largest market share, contributing nearly two-fifths of the market share in 2017. It is projected to maintain this trend, registering the fastest CAGR of 6.1% through 2023, owing to the increased use of dental products & rotary files to improve convenience during root canal treatment. Moreover, negligence about oral hygiene has supplemented the growth of the segment. The other segments analyzed in the report include obturator and permanent endodontic sealer.
Dental clinic to garner largest share through 2023
The dental clinic segment dominated the market in terms of revenue in 2017, contributing nearly two-thirds of the total revenue. It is projected to remain dominant through 2023, registering the fastest CAGR of 5.8% during the forecast period. This is attributed to factors such as large presence of dental clinics, less wait time, and lower cost of routine procedures in dental clinics as compared to hospitals. Furthermore, the hospital & dental academic research institute segment would grow at a steady rate during the forecast period.
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Europe dominates the market throughout the study period
Europe endodontic consumables market held the largest share in 2017, contributing nearly two-fifths of the total market revenue, owing to the high awareness about dental care and rise in incidence of dental disorders that require dental restoration. Moreover, favorable regulatory approvals from the government have enabled key players to launch their products early in the region, which in turn supplements the market growth. However, Asia-Pacific region is expected to portray the fastest CAGR of 9.1% during the study period, owing to rise in geriatric population that requires dental restoration, increase in accessibility of medical services in emerging economies, and surge in awareness about dental disorders. The other regions analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).
Key market players
The key players analyzed in the report include Brasseler USA, Danaher Corporation, DiaDent Group International, Ivoclar Vivadent AG, Micro-Mega, SA, Coltene Holding AG, Dentsply Sirona Inc., FKG Dentaire SA, Mani, Inc., and Septodont Holding.
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