PORTLAND, Oregon and PUNE, India, January 22, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, Dental Consumables Market by Product: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global dental consumables market was valued at $38,921 million in 2016, and is projected to reach $55,584 million in 2023 at a CAGR of 5.2% from 2017 to 2023
Dental consumables are dental care products, which are employed during various dental procedures such as dental implants, prosthetics, brushes, crows, and others. They are used by patients suffering from various dental disorders such as dental carries, dental impairment, tooth restoration, and in treatment of associated gingival tissues.
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The major factors that drive the growth of the global dental consumables market include rise in prevalence of dental diseases, surge in geriatric population, which is prone to tooth loss, increase in awareness towards oral health, and rise in dental tourism. However, high cost of dental products and limited reimbursement policies are expected to restrain the market growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, and high adoption of cosmetic procedures are expected to provide lucrative opportunities to the market players.
Retail care essentials segment occupied the largest share in 2016, followed by dental implants, owing to high usage, applicability, and availability of retail care essential products such as toothbrush, toothpastes, and others. Furthermore, dental prosthetics segment is expected to grow at a high CAGR of 11.2% from 2017 to 2023. This is attributed to increase in number of dental restoration procedures across various regions due to low focus on oral hygiene.
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On the basis of material, the metals segment for dental implants and prosthetics market occupied three-fifths of the market share in 2016, owing to the cost-effectiveness of metal implants & prosthetics and their high availability. The ceramics segment is expected to grow at the highest CAGR of 10.4% during the forecast period.
Key Findings of the Dental Consumables Market:
- Retail dental care essentials segment accounted for more than three-fifths share of the global dental consumables market in 2016.
- Orthodontics segment is expected to grow at a CAGR of 8.2% from 2017 to 2023.
- Crown segment accounted for more than two-fifths share of the dental prosthetics market in 2016.
- Dental wash solutions segment is expected to grow at a CAGR of 4.5% from 2017 to 2023.
- Metals segment accounted for around three-fifths share of the global dental implants & prosthetics market in 2016.
- Europe accounted for nearly two-fifths share of the global market in 2016.
- Asia-Pacific is expected to grow at the highest CAGR of 7.6% from 2017 to 2023
North America accounted for more than one-third share of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to the increase in incidence of dental diseases, growth in geriatric population, rise in patient awareness about the availability of treatment options, and favorable reimbursement framework in the region. In addition, high adoption rate of dental consumables and presence of highly sophisticated healthcare infrastructure are expected to present new growth opportunities to the players in this market.
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SOURCE Allied Market Research