Dental Prosthetics Market Estimated to Expand at a Robust CAGR over 2023

The global market for dental prosthetics is consolidated to a considerable degree, with the top three players having taken up 48.5% of the market value in 2014. Institut Straumann AG, Nobel Biocare Holdings AG, and DENTSPLY International, Inc., the leading providers of dental prosthetics in the world, show a consistently high level of market activity. This involves collaborative strategies and a high focus on developed regions that possess advanced healthcare infrastructure.

With a little over 40% of the dental prosthetics market in 2014 held by a large number of regional players, it holds a moderate level of threat for new entrants. There is an influx of new players in all regions. They are, however, slowed down by the amount of regulations and guidelines that need to be adhered to before approval and commercial availability of products.

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Growing Dental Procedure Numbers Benefit Dental Prosthetics Manufacturers

“Multiple healthcare studies across the world have shown that the number of people applying for dental care procedures is increasing significantly,” states a TMR analyst. “Bodies such as the WHO and the American Academy of Implant Dentistry have revealed an increase in the number of patients suffering from severe periodontal diseases.”

Additionally, the number of patients diagnosed with oral cancer is also on the rise, further increasing the demand for dental prosthetics. Negative dental hygiene, consumption of unhealthy foods, growing geriatric population, and growing disposable income are collectively responsible for the growth in demand for dental prosthetics around the world.

Over-competitiveness Hinders Dental Prosthetics Margins

Globally prominent manufacturers of dental prosthetics have to compete with the large number of local players for market share. This creates a high level of disparity in the cost prices of dental prosthetics, as local players can offer these products at a much lower price than their global counterparts.

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The global players therefore have to reduce their prices to compete with local players and drastically reduce their margins in doing so, due to the high costs associated with improving dental prosthetics and related technologies.

Europe Leads Dental Prosthetics Consumption While APAC Demand Soars

The global market for dental prosthetics is expected to progress at a CAGR of 7.6% within a forecast period from 2015 to 2023 in terms of revenue. This market is expected to reach US$3.5 bn by the end of 2016 and US$5.88 bn by the end of 2023.

Dental crowns, the current top grossing product type in dental prosthetics, is expected to continue being the leading segment based on revenue in 2023. By 2023 it is expected to reach US$2.9 bn in revenue.

In terms of region, Europe is projected to lead the consumption of dental prosthetics from 2016 to 2023. By the end of 2023, Europe is expected to have generated over US$2.2 bn in revenue for dental prosthetics providers. The growth in demand, however, is expected to be the fastest from the Asia Pacific region, which is showing a CAGR of 8.7% from 2015 to 2023.

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