Dental Implants Market will rise to US$ 8.18 Billion by 2024

A very small percentage of the value of the global dental implants market in 2015 was taken up by regional players. A majority of these players were localized ones present in the emerging economies of Asia Pacific. Meanwhile, Institut Straumann AG, Danaher Corporation, and Dentsply Sirona, the three market leaders for 2015, had held a whopping 53% of the overall market value, pointing to a largely consolidated market.

According to a research report released by Transparency Market Research, the global dental implants market held a high degree of rivalry among players. There is a strong presence of all globally prominent players in key regions, as well as a large number of localized businesses in emerging economies that are vying for a greater share of the regional market. Global players, on the other hand, are trying to expand their business by undertaking expansion activities in the form of mergers and acquisitions and long term partnerships.

The threat shown by new entrants is expected to remain low over the coming years, owing to the large capital required for installation, along with the costs associated with regulatory compliance and research and development efforts. The global dental implants market is expected to progress at a CAGR of 7.9% within a forecast period from 2016 to 2024 in terms of revenue. This revenue is expected to reach US$8.18 bn by the end of 2024, after it will reach US$4.46 bn at the end of 2016. For the same forecast period, the global dental implants market is expected to expand at a CAGR of 7.9% with respect to volume.

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“Plaques and cavities have consistently been the leading factors that eventually create the demand for dental treatment and implants. Over the past couple of years, there has been a significant increase in the number of people opting for dental work. This is a juxtaposition to the overall positive reports based on the global population’s average dental health and is primarily created by the increasing number of the elderly in the world. While children have so far been the key contributors to the demand for dental treatments, the growing geriatric population is adding a staggering count to the number of dental implants required,” states a TMR analyst.

Additionally, the global dental implants market is being driven by the growing disposable income among patients. This is allowing them to avail better quality treatments and dental implants, improving the revenue generated by this market. This is especially applicable to the emerging economies of the world, where global players steadily making their foray due to the growth in demand for premium quality products and treatments. The global dental implants market is also being driven by the growing innovation and the advanced use of technologies such as CAD/CAM to implement better implants.

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Although a large number of dental implants are meant to be permanent or long-term, they are still not nearly as affordable as a large contingent of patients would like them to be. The high costs of several types of dental implants is considered to be the leading restraint acting against the overall growth of the global dental implants market. Complicating matters is the overall lack of insurance coverage that stretches into dental work. With a very low number of reimbursement policies surrounding dental implants, patients are consistently deterred from availing advanced treatments being introduced in the global dental implants market.

“On the other side of the global dental implants market, innovative technologies are offering high demand treatments and implants for patients. One such example is the use of 3D cone beam imaging technology, which can help reduce the healing time and increase the success rate of implants,” adds the analyst.

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This release was published on openPR.