Global dental consumables market was valued at US$ 16,492.2 Mn in 2014, which is projected to expand at a CAGR of 5.7% from 2015 to 2023 to reach US$ 27,589.6 Mn in 2023.
Albany, NY -- (SBWIRE) -- 07/28/2016 -- The global dental consumables market is moderately consolidated with top three players, namely Danaher Corp., DENTSPLY Int. Inc, and Straumann Holding AG, accounting for a share of 56.2% in the overall market. However, the presence of a large pool of participants keeps the market competitively active. Currently, leading manufacturers of dental consumables are focusing on introducing technologically advanced products to strengthen their position in the global market, finds Transparency Market Research (TMR) in a new study.
Over the coming years, the high unmet medical needs in emerging economies are likely to provide potential opportunities for the market's growth. These players will need to increase their penetration in these regions by investing heavily as well as entering into strategic alliances with local participants to further expand their businesses.
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Surge in Dental Tourism Boosts Consumption of Dental Consumables
Dental tourism has emerged as a thriving business in emerging economies such as Hungary, India, and Turkey. The surge in this industry, on account of the availability of high-quality yet cost-efficient oral care services, has led to the soaring demand for dental consumables in these countries, increasing their overall consumption across the world. The usage of dental consumables has also been increasing due to the implementation of government-led dental reforms in developed nations such as the U.K., the U.S., Germany, and Australia.
Looking forward, the growing interest of people in cosmetic dentistry is projected to upswing the demand for dental consumables significantly in the near future. However, the lack of favorable reimbursement scenarios and the rising reports of allergies and infections after dental implant may create some hindrances in the adoption of dental consumable over the next few years, anticipates TMR.
Supported by Heavy Investments in Oral Healthcare Facilities, Europe Set to Retain Leadership
Despite these restraints, the global opportunity in dental consumables is likely to register a healthy CAGR of 5.70% during the period from 2015 to 2023. In 2014, the market's opportunity stood at US$16.5 bn and it is estimated to increase up to US$27.5 bn by the end of the forecast period.
Europe is expected to remain the dominant market for dental consumables throughout the forecast period, increasing its value share from 40.8% in 2014 to 41.6% by 2023. Heavy investments in oral healthcare facilities are projected to boost the market's growth over the coming years. Asia Pacific will also witness robust rise in the demand for dental consumables in the near future due to the cost-efficient oral care services offered here.
Crown and bridges find the highest demand among dental consumables across the world. In 2014, these products generated a revenue of US$4.6 bn, which is expected to increase at a CAGR of 7.0% between 2015 and 2023 and amount to US$8.8 bn by the end of 2023.
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Transparency Market Research is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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