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Dental Consumables Market Research Report by Technological Development, Applications and Forecast 2024
The growing number of dental issues across the world are fuelling the demand for dental consumables. These consumables are predominantly used for tooth restoration, treating dental impairments, and related gingival tissues. The global dental consumables market has been thriving in recent years due to the increasing dental tourism in developing countries. Citing these reasons, analysts predict that global dental consumables market will be worth US$33.4 bn by the end of 2024 from US$19.6 bn in 2015. The overall market between 2016 and 2024 is expected to rise at a CAGR of 6.1%.
Several emerging economies such as Turkey, Hungary, and India are expected to offer lucrative opportunities to the global market in the coming years. The low cost of labor, less government intervention, effective dental treatments, and improving services are expected to draw in a large number of patients for dental treatments. The market is also thriving due to the remarkable improvements in the quality of dental implants, which has assured several patients to opt for dental treatments. Rising disposable incomes, improving lifestyles, and growing awareness about oral healthcare are also expected to drive the global dental consumables market in the next few years.
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Improvements in Oral Healthcare across Europe keeps Region in the Lead
In terms of geography, the global dental consumables market is segmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. Europe is the frontrunner in the global market due to the ever-increasing pool of geriatrics. The growing concerns for oral health care are expected to keep Europe growing at a steady CAGR in the global dental consumables market during the forecast period. The growing funding for improving and expanding oral health care facilities across Europe is also expected to benefit this regional market.
On the other hand, Asia Pacific is also expected to show a steady growth rate in the coming years. The emergence of the middle class is the primary growth driver for this regional market. The booming dental tourism in Asia Pacific is estimated to keep up the demand for dental consumables in the coming years. Furthermore, improving disposable incomes, access of oral health care, and growing awareness will also boost the growth of the regional market.
The key players operating in the global dental consumables market are 3M Health Care, Danaher Corporation, DENTSPLY International, Inc., Henry Schein, Inc., Institut Straumann AG, Ivoclar Vivadent AG, Patterson Companies, and Zimmer Biomet Holdings, Inc.
Global Dental Consumables Market: Regional Outlook
Geographically, Europe accounted for largest share of the market followed by North America, Asia Pacific, Latin America and Middle East & Africa. Financial considerations is among the most important factors influencing patients’ decision to undergo dental treatments in both North America and Europe. Aging of baby boomers segment is a prime attributor for large number of dental laboratories and dental procedures in Europe. Dental tourism is also flourishing in countries in Asia, particularly in India and China, due to the cost effective treatment being offered. These countries not only promote dental tourism, but also outsource doctors and other treatment facilities to keep up with the demand for dental tourism.
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