Dental Equipment Market: Rising Cosmetic Dentistry to Drive the Market Demand
Dentistry, for the presumption that it seldom is life-threatening, may be considered secondary to several other segments of medical sciences but there is a growing awareness among end-users about clean teeth not only for health but aesthetical reasons. Researchers are continuously working on new technologies in the field of dentistry and hence, the future of the global market for dental equipment looks bright. This research study projects the global dental equipment market, which was valued at US$5.5 bn in 2011, to grow at a CAGR of 4.7% to reach a valuation of US$7.6 bn by 2024.
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The market for dental equipment is continuously growing on the back of technological advancements in the field of dentistry. For instance, digital x-rays are now enabling faster results and also contain less radiation than traditional x-rays while VELscope is a special type of light that dentists shine in a patient’s mouth to detect abnormalities. Moreover, products such as Invisalign have given patients the option of practically invisible braces that can gently straighten teeth. Likewise, lasers are now being used to eliminate discomfort in a number of dental procedures.
Another growing trend in the market for dental equipment is the extended use of dentistry in the cosmetic field. This refers to any dental work that improves the appearance of a person’s teeth, gum, and bite. Termed as dental aesthetics, this advancement primarily focuses on improving color, position, alignment, shape, size, and overall appearance of a person’s smile. All of these technological advancements in the field of dentistry, a worldwide aging population, and growing awareness among younger end users augurs well for the future of the dental devices market.
Conversely, the report also notes that the use of refurbished dental equipment and relatively high costs of advanced dental equipment are premier restraint in the market. The levying of taxes on certain classes of dental equipment coupled with the growing awareness about the use of fluoridation to prevent dental decay is also expected to adversely affect the global market for dental equipment.
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North America constitutes the largest market for dental equipment at the global level because of several factors. For example, there is a high prevalence of dental caries among the population of countries such as U.S. and Canada. According to a report by WHO, in North America in 2011, the decayed, missing, and filled teeth (DMFT) count was estimated at 2.35 among children aged 12 years. Moreover, consumers in North America spend a substantial amount of money on cosmetic dental procedures. The American Academy of Cosmetic Dentistry states that people in the U.S. spend approximately US$2.75 bn annually on cosmetic dental procedures.
Europe contributes to a fairly large market for dental equipment as well its share stood at 35% of the global market as of 2011. The report finds that large populations of Asia Pacific will continue to drive the dental equipment market steadily over the forecast period while North America will continue to lead.
To provide a thorough overview of the competitive landscape, the report profiles some of the prominent names in the global dental equipment market. The entities profiled in this report include: 3M ESPE, A- Dec Inc., Biolase Inc., Carestream Heath, Inc., Danaher Corporation, Dentsply International Inc., GC Corporation, Henry Schein, Inc., Hu- Friedy Mgf Co., Ivoclar Vivadent AG, Midmark Corporation, Patterson Companies Inc., Planmecaoy, Sirona Dental Systems Inc., Noble Biocare, and Straumann. Out of these, the Danaher Corporation accounted for the highest share of the global dental equipment market revenue in 2011 due to the company’s wide-ranging product portfolio.
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