Endodontics and Orthodontics Market is expected to expand at a CAGR of around 5.2% over the forecast period of 2021 to 2031: Persistence Market Research
NEW YORK, Jan. 28, 2022 /PRNewswire/ -- The global endodontics and orthodontics market is expected to expand at a CAGR of around 5.2% over the forecast period of 2021 to 2031. As per the latest research report by Persistence Market Research, the global market was valued at over US$ 4.6 Bn in 2020.
Increasing popularity of being aesthetically perfect in terms of appearance has driven the growth of the dental prosthetics and aesthetics sector over the past few years. Changing lifestyle and perception with regard to facial aesthetics have catalyzed demand growth of endodontic and orthodontic products, wherein, dental implants present a lucrative stance for further revenue growth in the industry. Increasing incidence of periodontal diseases, dental expenditure, and rising global geriatric population, as well as increasing disposable income are prime factors driving market expansion.
Furthermore, novel advancements and innovations with respect to developments in endodontics, growing awareness regarding dental hygiene, and rise in the number of dental practitioners in established geographies are complementing market growth.
Surge in the demand for root canal treatments followed by rising investments in research & development by key healthcare companies has led to the production of newer endodontic and orthodontic products, primarily dental implants. Many key manufacturers of endodontic and orthodontic products are focusing on emerging markets due to their extensive potential for growth as well as to widen their distribution channels across the globe.
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Key Takeaways from Market Study
Endodontic products hold over two-third of the market value share, primarily because of the high prevalence of oral diseases.
Dental clinics dominated the market with a share of around 72.3% in 2020, owing to rising number of dental professionals with independent clinical practices, globally.
North America is the largest regional market with a value share of over 37% in 2020. It is further expected to grow 1.5X by 2031 owing to the presence of major players in the region.
"Rising awareness regarding oral health and advancements in root canal treatments have driven demand of endodontic and orthodontic products" says an analyst of Persistence Market Research.
Market Competition
To increase their sales, major players in the endodontics and orthodontics market have been focused on product innovation. Manufacturers have been inventing ways to innovate their products in order to maintain their market position.
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- For instance, key players such as Henry Schein, Inc. and Ivoclar Vivadent AG, in December 2019, announced plans for the distribution of the new PrograMill One Milling System, where companies do business together.
Agreements and distribution channel expansions are other key strategies adopted by manufacturers to increase their consumer base in different geographies.
- Patterson Veterinary Supply, Inc., a subsidiary of Patterson Companies, Inc., announced that it had signed an agreement to acquire all of the assets of Miller Vet Holdings, LLC, a multiregional veterinary distributor, in April 2021.
Prominent players in this industry include Dentsply sirona, Inc., 3M, Align Technology, Inc, DENTAURUM Gmbh & Co. KG, FKG Dentaire SA, Ivoclar Vivadent Inc, Patterson Companies, Inc., Mani, Inc., Coltene Holdings AG, and Danaher Corporation (Ormco).
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the endodontics and orthodontics market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
The research study is based on the product (endodontic products (permanent sealers, files, obturation devices, and others) and orthodontic products (dental braces, molar bands, wires, retainers, and others)) and end user (dental laboratories, dental hospitals, dental clinics, and others), across seven key regions of the world.
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