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2019 Dental Services Market Insights On Key Players, Industry Size And Share

09-13-2019 12:04 PM CET | Health & Medicine

Press release from: The Business research company

Global Dental Services Market

Global Dental Services Market

The dental services market consists of sales of dental services and related goods by entities (organizations, sole traders and partnerships) that provide general dentistry, oral surgeries and orthodontics and prosthodontic services. This industry comprises establishments of licensed health practitioners having the degree of D.M.D. – Doctor of Dental Medicine, D.D.S. – Doctor of Dental Surgery, or D.D.Sc. – Doctor of Dental Science.

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The global dental services market reached a value of nearly $436.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.4% since 2014, and is expected to grow at a CAGR of 9.6% to nearly $629.3 billion by 2022.

Growth in the historic period resulted from favorable government initiatives, aging populations, and emerging markets growth. Factors that negatively affected growth in the historic period were unqualified man power, limited coverage for dental services, and weak wage growth in developed countries.

Going forward, rising demand for cosmetic dentistry, growing dental tourism, increasing popularity of franchise dentistry, and technological advances will drive growth. Factors that could hinder the growth of the dental services market in the future include increasing costs of dental procedures, rising interest rates, and stringent government regulations.

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The top opportunities in the global dental services market will arise in the general dentistry segment, which will gain $121.86 billion of global annual sales by 2022. The dental services market size will gain the most in China at $56.49 billion. Market-trend-based strategies for the dental services market include collaborating with DSOs (dental service organizations) to take advantage of group service structures, adopting new technologies to deliver safer, precise and less painful dental services, entering into collaborations and mergers with dental services chains to stay relevant in the market, and expanding operations to low cost emerging economies.

North America was the largest market for dental services, accounting for 35.3% of the global market in 2018. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the dental services market will be Asia-Pacific and Africa.

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