Press release
DENTAL EQUIPMENT MARKET VALUE TO SURPASS US$ 10.0 BILLION BY 2024
Dentistry is an ever-evolving healthcare segment, with numerous technologies being researched, developed, tried and commercialized to improve therapy outcomes. Growing number of dental clinics is in turn driving adoption of dental lasers, computer-aided design and computer-aided manufacturing (CAD/CAM) systems, dental radiology equipment, and other laboratory equipment.
The global dental equipment market was valued at US$ 6,342.3 million in 2015 and is expected to expand at a CAGR of 4.7% during the forecast period (2016 – 2024).
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Advent of CAD/CAM & 3D printing fueling dental equipment market growth
Laser and electro surgery techniques enable precise incision during surgeries, causing minimal damage to tissues and subsequently aiding faster healing. Advent of CAD/CAM has reduced time for prosthodontic restoration procedures to one day. Replacement of conventional radiology equipment with digital radiology equipment equipped with picture archiving and communication systems (PACS) facilitates archiving treatment records. 3D printing technology has improved outcomes of dental treatments. Cone beam CT systems provides clear extra oral images with minimal exposure to harmful X-rays compared to the conventional CT systems.
High treatment costs in developed economies fueling influx of dental tourists in emerging economies
According to the New National Survey published in the American Dental Association in 2014, 40.2% of adults in the U.S. indicated that they would forego dental care due to high costs associated with it. According to 2016 statistics of the Oral Health Foundation, 88% of adults in the U.K.do not have dental insurance and around 63% of adults prefer visiting National Health Service (NHS) dentists rather than private dentists due to high costs associated with the later. High dental cost involved in cosmetic dentistry dental caries, periodontal disease treatment and overall dental care in developed economies is fueling growth of dental tourism in emerging regions such as Asia, Latin America, and Eastern Europe. Rapid development of dental tourism hubs such as India and Brazil would spur growth of the dental equipment market in emerging regions.
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Increasing preference for refurbished dental equipment impacting the growth of overall dental equipment market
Budget constraints in emerging countries such as India, China, Brazil and Eastern European countries is driving demand for refurbished dental equipment. This aids the newly established dental clinics and laboratories to achieve cost-efficiency with quality throughput. New dental equipment such as cone beam CT systems, vacuums & compressors, cad/cam, digital X-ray units and laboratory equipment involve high capital investment. This may increase the cost of patient dental procedures, thus negatively impacting the number of patient visits. Therefore, most dentists and hospitals in emerging countries prefer refurbished equipment, which in turn helps them pass on the cost-saving benefits to their patients. Market players such as Danaher Corporation, Planmeca Oy, and Dentsply Sirona, Inc. must consider the cost parameters while targeting the cost-sensitive customer base in emerging countries that are projected to be highly lucrative dental equipment markets in the near future.
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