Periodontal Therapeutics Market to Record Sturdy Growth by 2024
A key trend noticed in the global market for periodontal therapeutics is the investment into research and development of more effective therapies by prominent participants. This, coupled with the focus on strategic mergers and acquisitions and partnerships by players seeking to expand their outreach, is serving to heat up competition in the market.
A report by Transparency Market Research predicts the global periodontal therapeutics market to register a CAGR of 8.7% during the period between 2016 and 2024 to attain a value of US$537.2 mn by 2024.
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Thrust on Product Development by Companies Drives North America Market to Fore
Based on the type of products, the global market for periodontal therapeutics can be divided into systemic antibiotics and local antibiotics. Among the two, the systemic antibiotics segment dominated the market in 2016 with a lion’s share for more than 94%. In the years ahead, the segment is slated to continue to rake in maximum revenue, although reducing its share slightly because of its affordability and availability.
Geographically, the key segments of the global market for periodontal therapeutics are North America, Asia Pacific, Europe, and the Rest of the World. North America, of them, led the market in 2015 with a dominant share of more than 40.0%. This is primarily on account of the rising occurrence of periodontal diseases, product innovation, helpful reimbursement policies, and a growing pool of elderly. As per the Center for Disease Control and Prevention, 47.2% of adults 30 years and above is afflicted with some type of periodontal disease. This, along with increasing awareness about the ailment is expected to drive the market.
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Increasing Instances of Diabetes Underpins Sales
At the forefront of driving demand in the global periodontal therapeutics market is the rising consumption of tobacco which leads to periodontal disorders. Besides, the growing number of diabetics, increasing thrust on research, and technological progress is also proving beneficial to the market. Colgate-Palmolive, a multinational consumer products company, estimates that about 300 million will be afflicted with diabetes by 2025 and most of them will be from India and China.
The American Academy of Periodontology finds that the occurrence of periodontal disease is maximum among ethnic minorities. Almost 63.5 percent of Hispanic-Americans, 50 percent of Non-Hispanic Asian Americans, and 59.1 percent of Non-Hispanic Blacks suffer from the disease.
Preventive Care for Dental and Gum Problem Crimps Market Growth
“Posing a roadblock to the global periodontal market, on the other hand, is the growing number of preventive care for dental and gum problems and dearth of supportive reimbursement policies in many countries,” explains the lead analyst of the report.
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