According to the CDC report, in 2015, 47.2% of the total U.S. population aged 30 years and above suffered from periodontitis disease. Periodontitis has emerged as one of the most common dental issues, as a majority of the population neglects oral care and is either apathetic toward a dental visit. The rising baby boomer populace has further provided a stimulus to the dental equipment and consumables market, as most of the elderly have notably severe dental issues. With major advancements in dental equipment technology, dental cosmetic surgery has become commonplace across the developed as well as developing nations, thereby providing a boost to dental equipment and consumables market.
Considering the increasing cost of dentistry, many people tend to travel to other countries where the equipment and facilities are just as good, but the cost of the procedure is much lower. Countries like Mexico, Thailand, Costa Rica, Spain, India, Poland etc. are instances of such countries where dental tourism has been receiving a major impetus, adding to the overall growth of the dental equipment and consumables industry.
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The rapidly increasing oral health awareness across the globe has led to a huge spur in dental equipment and consumables market, the valuation of which was pegged at a massive USD 21.4 billion in 2017. A substantial percentage of this awareness may be credited to regional and international governments that have begun to include dental health in mainstream healthcare. Furthermore, the advancement of technology in dental healthcare coupled with unhealthy eating habits, excess sugar consumption, and increasing elderly population has also contributed to rising dental problems, that have undeniably stimulated dental equipment and consumables market share.
Due to the rising demand for dental implants and prosthetics, consumables have emerged as a major revenue-generating ground for dental equipment and consumables industry. A major part of the global population has been demanding tooth implants and prosthetics due to growing age or premature tooth decay caused by neglected oral health, the consequences of which are being depicted in the exponential growth graph of dental equipment and consumables market. The rising requirement of surgical procedures and of orthodontics, endodontics and periodontics has also increased the adoption of dental consumables, further augmenting the expansion of dental equipment and consumables industry.
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Dental equipment, that are an intrinsic part of the dental healthcare industry, have witnessed major development due to the advancement of technology in the dental healthcare sector. The traditional form of dental impression reproduction is being replaced with 3D scanners and other desktop manufacturing systems popularly known as CAD/CAM (computer aided design and computer aided manufacturing), majorly impacting the commercialization potential of dental equipment and consumables market.
Millennial dentists are reinventing dental practice by incorporating new technologies into the diagnosis and treatment of dental problems. Dentists have also been attempting to increase the flexibility and mobility of dentistry by bringing tele-dentistry and smartphone communications to the mainstream. Though efficient, technologically advanced dental equipment are highly priced, affecting the affordability factor for medium and small-scale businesses. In response, key industry players are trying to make these equipment more affordable as well as accessible to all, thus propelling dental equipment and consumables industry size.
The rising costs of dental treatments can prove to be detrimental to the growth of dental equipment and consumables market. However, the excess consumption of sugary eatables coupled with the social convention of maintaining an attractive appearance will continue to act as major driving forces for this business space. Major players of dental equipment and consumables market such as 3M, BioLase, A-Dec, AMD Lasers, Danaher, Carestream Health, Dentsply Sirona, Midmark, Ivoclar Vivadent Aktiengesellschaft, Planmeca, Patterson, etc., have been adopting tried-and-tested strategies like mergers and acquisitions and have been working toward exploiting technological advancements in the CAD/CAM domain in order to sustain their position in this business sphere. As per estimates, dental equipment and consumables market is expected to exhibit a consistent growth over the forthcoming years, with an estimated target valuation of USD 32 billion by 2024.
Dental Equipment & Consumables Market: https://www.globenewswire.com/news-release/2017/12/05/1228991/0/en/Dental-Equipment-Consumables-Market-worth-over-USD-32-Billion-By-2024-Global-Market-Insights-Inc.html
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