Global Dental Prosthetics Market to Reach US$5.8 bn by 2023 due to Increasing Occurrence of Oral Diseases

A new Transparency Market Research report states that the global dental prosthetics market stood at US$3.0 bn in 2014 and is predicted to reach US$5.8 bn by 2023. It is expected to expand at a CAGR of 7.60% from 2015 to 2023.

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According to the report, the market for dental prosthetics is growing at an exponential rate due to technological advancements in dental prosthetics and the increasing aging population. In addition, the increasing occurrence of oral diseases caused by the intake of tobacco, dietary irregularities, and smoking is also raising the demand for dental prosthetics. Furthermore, the increasing number of dental procedures and rising medical tourism in emerging nations is further augmenting the growth of the market. On the other hand, factors such as low reimbursement, high cost of the equipment, and the competitive pricing of dental prosthetics may impede the growth of the market in the coming years.

The report segments the dental prosthetic market on the basis of type and geography.

On the basis of type, the market for dental prosthetics is segmented into crowns, bridges, dentures, veneers, and other products such as onlays and inlays. Amongst these, in 2014, the segment of crowns held the largest share in the market for prosthetics and is predicted to maintain its dominance through the forecast horizon.

On the basis of geography, the market is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Amongst these, in 2014, Europe led the market for dental prosthetics and was trailed by North America. The reasons for the dominance of this region include the presence of prime players, a well-planned distribution channel, and increasing geriatric population in this region.

The increasing geriatric population plays a key role as periodontal disease, caries, and tooth decays are more common and severe in aged people, raising the need for dental prosthetics. The European Commission has predicted that in Europe, the aging population will reach 525 mn by 2035. On the other hand, Asia Pacific is the third largest market for dental prosthetics and this region is anticipated to exhibit the highest CAGR in the forecast horizon. This is due to the rising occurrence of oral cancer, the increasing aging population, the improvement in the healthcare infrastructure, the presence of untapped opportunities, and the large number of market players.

As per the report, the prime players operating in the market for dental prosthetics are Institut Straumann AG, 3M ESPE AG, Dentsply International, Inc., DenMat Holdings LLC, Nobel Biocare Holdings AG, GC Corporation, Zimmer Biomet Holdings, Inc., Heraeus Kulzer GmbH Avinent Implant Systems, Ivoclar Vivadent Inc., and Biohorizons, Inc., among others.

The global dental prosthetics market is segmented as follows:

Global Dental Prosthetics Market, by Type
Bridges
Crowns
Veneers
Dentures
Others (Inlays, Onlays, etc.)

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This release was published on openPR.