Press release
Dental Equipment Market Expected to Surpass $15,471.7 Million and Grow at 6.5% CAGR in the 2022-2031
Dental Equipment Market
According to the report, the dental equipment market is predicted to register a revenue of $15,471.7 million by 2031, growing at a healthy CAGR of 6.5% during the forecast period 2022-2031.
Dynamics of the Market
Drivers: The dental equipment market is expected to flourish in the forecast period due to growing awareness about oral hygiene worldwide. Along with this, increasing applications for dental tools in dental clinics are predicted to push the market forward in the forecast period.
Opportunities: The invention of modern dental equipment which is more powerful, faster, smarter, and smoother is expected to offer numerous growth opportunities to the market. Along with this, the growing use of dental lasers is predicted to take the market higher.
Restraints: According to market analysts, dental anxiety due to past dental experience, however, may become a challenge in the growth trajectory of the dental equipment market.
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Covid-19 Impact on the Market
Since the Covid-19 pandemic, travel restrictions, and strict lockdowns were put in place by various governments across the world. This negatively impacted several businesses and industries causing disruptions in manufacturing processes and supply chains. The dental equipment market faced a similar situation wherein there was a disruption in the supply of raw materials required for the manufacturing of dental equipment. Also, the import-export restrictions led to a further decline in the market's growth rate.
Segments of the Market
The report has fragmented the dental equipment market into a few segments based on procedure type, product type, end user, and regional analysis.
By procedure type, orthodontic sub-segment of the dental equipment market is anticipated to have a dominating market share by 2031. Since orthodontics is a dental specialty focusing on correcting dental occlusions, misaligned or overcrowded teeth, etc., there is a growing need for dental equipment in this field. This growth in the applicability of dental equipment is predicted to boost the growth of this sub-segment in the forecast period.
By product type, the dental laser equipment sub-segment is predicted to garner the highest revenue by 2031. The rising use of dental lasers to perform dental surgeries is anticipated to push the growth rate of this sub-segment higher.
By end user, the hospitals sub-segment is anticipated to have the highest market share by 2031. The growing adoption of dental equipment by dentists practicing in hospitals is projected to augment the growth rate of this sub-segment in the forecast period.
By regional analysis, the dental equipment market in the North America region is estimated to be the most dominant in the forecast period. The growth of government investments in dental care and the rise in overall personal incomes of the people in this region are estimated to be the main growth factors which are propelling the market growth in this region.
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Prominent Market Players
Some prominent market players are A-Dec Inc., Bien-Air Medical Technologies, Danaher Corporation, Aseptico Inc., Dentsply Sirona, Henry Schein Inc., 3M, GC Corporation, Ivoclar Vivadent AG, and Biolase Inc., among others. These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth.
For example, in September 2021, Planmeca Oy, a global leader in dental tools and equipment manufacturing, announced that it had signed an acquisition agreement with KaVo Treatment Unit & Instrument segment of the Envista Holding Corporation. KaVo Dental has been a leader in dental equipment manufacturing for a long time now and this acquisition by Planmeca Oy is expected to help the company in the coming period.
The report also summarizes several crucial aspects, such as the financial performance of key market players, SWOT analysis, product portfolio, and the latest strategic advancements.
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About Research Dive:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable.
Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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