SAN FRANCISCO, May 4, 2021 /PRNewswire/ -- The global endodontic files market size is expected to reach USD 50.5 million by 2028, recording a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. Higher disposal income levels and rising awareness concerning dental care are expected to drive the market growth. In addition, the rising technological advancement in the field of alloy files and the increasing number of root canal procedures are fueling the market growth.
Key suggestions from the report:
The manual files segment dominated the market, in terms of revenue share, in 2020 due to the preference for more controlled root canal procedures
The stainless steel material segment accounted for the highest revenue share in 2020
On the other hand, Ni-Ti files are expected to witness the fastest CAGR over the forecast period due to their features, such as the shape memory effect, superior elasticity, biocompatibility, and corrosion resistance
The offline distribution channel segment held a majority of the revenue share in 2020 as most of the hospitals & clinics purchase directly from the manufacturers enabling cooperation and communication to medical specialists and technicians
On the other hand, the online distribution channel is likely to witness the fastest CAGR over the forecast period due to the rising popularity of online portals as they offer convenience
The hospitals/OPDs segment led the market in 2020 owing to technological advancements and the government initiatives to provide dental care through the public sector encouraging patients to visit the hospitals
In 2020, North America held the majority of the global revenue share owing to the continuous development of files for improved efficiency, awareness regarding dental care, and a rise in disposable income levels
However, Asia Pacific is expected to be the fastest-growing regional market over the forecast period.
The government initiatives to provide dental care at subsidized rates or free of cost through the public sector for the low-income groups and dependent groups further encourages more dental visits and dental care awareness. Moreover, the regional associations dedicatedly working towards endodontic, such as the American Association of Endodontists, The Asian Pacific Endodontic Confederation, and The Australian Society of Endodontology, help in creating awareness and support and develop the members associated.
The business strategies adopted in terms of mergers and acquisitions by the key players are propelling the research and development activities resulting in the development of technologically advanced products, which are more efficient and facilitates faster treatment. In addition, it is encouraging geographical expansion, making the files available to dental hospitals, clinics, and academic hospitals worldwide.
The Covid-19 pandemic has further given a boost to the online distribution channel. However, during the initial phase of the pandemic, dental care was affected largely as the dental practices were at high risk of spreading the virus. The dental clinics had to stop the operations and later a complete structural change was needed to prevent the dentist from getting infected.
Grand View Research has segmented the global endodontic files market on the basis of type, material, distribution channel, end-use, and region:
Endodontic Files Type Outlook (Revenue, USD Million, 2016 - 2028)
Endodontic Files Material Outlook (Revenue, USD Million, 2016 - 2028)
Endodontic Files Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Endodontic Files End-use Outlook (Revenue, USD Million, 2016 - 2028)
Hospitals & OPDs
Endodontic Files Regional Outlook (Revenue, USD Million, 2016 - 2028)
Endodontic Devices Market– The global endodontic devices market size was valued at USD 1.56 billion in 2018 and expanding at a CAGR of 4.1% over the forecast period. High prevalence of dental caries, growing expenditure on dental care, & overall growth in consumer disposable income are major driving factors.
Gutta-Percha Market – The global gutta-percha market size was valued at USD 182.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.77% from 2021 to 2027. The increasing prevalence of dental caries is anticipated to drive the market.
Dental Microsurgery Market – The global dental microsurgery market size valued at USD 240.4 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2019 to 2026. Rising prevalence of dental conditions is projected to drive growth.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.