Transparency Market Research Report Added "Dental Prosthetics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023"
Albany, NY -- (SBWIRE) -- 12/13/2016 -- The global dental prosthetics market is consolidated, with the top five companies accounting for 58.8% of the market in 2014. These five companies are Institut Straumann AG, Nobel Biocare Holdings AG, DENTSPLY International, Inc., Biomet 3i, and Zimmer Holdings, Inc. Institut Straumann AG dominates the dental prosthetics market with its strong and wide product portfolio, whereas Nobel Biocare Holdings AG holds a significant share of the pie via strong emphasis on marketing and distribution in emerging economies such as China, Brazil, Eastern Europe, and the Middle East.
The global market for dental prosthetics is estimated to reach a valuation of US$3.5 bn by the end of 2016. Rising at a healthy CAGR of 7.6% during the forecast period 2015–2023, the revenue in the market is expected to reach US$5.88 by the end of 2023.
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Segment of Dentures Projected for Strongest Growth Rate
The global market for dental prosthetics can be segmented on the basis of type and geography. By type, the market is segmented into crowns, bridges, veneers, dentures, and others including inlays and onlays. Based on type, crowns was the most prominent segment of the market in 2014, accounting for a share of 49.2%. This segmented is projected to expand at a CAGR of 7.6% during the forecast cast period due to high demand for these products and growing prevalence of dental caries. The segment of dentures is projected to witness the strongest growth in the next few years, fueled by the changing cultural attitude toward edentulism. Aesthetically, edentulism is considered less acceptable than before and hence, increasing pressure to replace missing teeth is contributing to the growth of this segment.
Geographically, Europe served the most prominent demand for dental prosthetics in 2014, accounting for a revenue of US$1.2bn. Europe is expected to remain the most significant regional market for dental prosthetics for the next few years, due to an increase in the prevalence of various oral diseases and high adoption of technologically advanced dental prosthetics. However, Asia Pacific is anticipated to expand at the most robust CAGR during the forecast period, owing to reasons such as rising geriatric population and an increase in investments by market players in this region.
Increase in Oral Diseases Driving Demand
Rise in geriatric population directly affects the growth and development of dental prosthetics as elderly people are most likely to lose their teeth. According to the World Health Organization, the global geriatric population is anticipated to reach 1.5 billion by 2050. An increase in the incidence of oral diseases (oral cancer, pyorrhea, and gingivitis) and the number of dental procedures is further fueling the global market for dental prosthetics. According to WHO, in 2012, 5% to 20% adults aged between 35 years and 44 years were diagnosed with severe periodontal diseases resulting in tooth loss. Growing medical tourism in developing nations is another factor fueling the demand for dental prosthetics.
Conversely, the dental prosthetics market is characterized by intense competition from local manufacturers who offer products at low cost. This is expected to hamper market growth as competition could lead to a fall in prices of products in order to protect market share.
According to the author of the report, "Since the markets in developed regions are saturated, emerging economies such as China, India, South Africa, Brazil, and Mexico offer lucrative new markets. Also, new product, service, and device development will help the players gain ground over their competitors."
The information presented in this review is based on a Transparency Market Research report, titled, "Dental Prosthetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023."
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