Europe holds the largest share of this market. However, the APAC region is expected to witness the highest CAGR during the forecast period
Northrook, IL -- (SBWIRE) -- 02/14/2020 -- The global dental lab market is projected to reach USD 43.08 Billion by 2022 from USD 32.56 Billion in 2017, growing at a CAGR of 5.8%.
A number of factors such as rapid growth in the geriatric population and the associated increase in the prevalence of edentulism, growing dental tourism in emerging markets, rising incidence of dental caries and other periodontal diseases, and the increased outsourcing of customization and fabrication of restorative and prosthetic products to dental laboratories are driving the market growth for dental laboratories. However, the high cost of dental materials and equipment is the major factor expected to restrain the growth of the dental laboratory market.
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Based on equipment, the global dental laboratory market is segmented into articulators, furnaces, scanners, and milling equipment. The milling equipment segment accounted for the largest share of the global dental laboratory market in 2016. The scanners segment is expected to grow at the highest CAGR during the forecast period. The rising focus on digital dental products, increasing efforts towards delivering faster dental treatment, increased development and penetration of computer-aided drawing, and Computer-Aided Manufacturing in dentistry are expected to drive the uptake of dental scanners.
On the basis of prosthetic type, the dental lab market is segmented into crowns, dentures and bridges. In 2016, the crowns segment dominated the market. The large share of this segment is mainly attributed to the large number of single tooth implant restoration procedures.
Geographical Region Covered
Geographically, the global dental lab market is segmented into North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa. Europe holds the largest share of this market. However, the APAC region is expected to witness the highest CAGR during the forecast period of 2017 to 2022. The growth of this segment can be attributed to the rising geriatric population, growing dental tourism, increase in the number of dental laboratories, and increasing outsourcing of various manufacturing services to the region are driving the growth of dental laboratories in APAC. However, the high cost of the dental equipment and materials is expected to hinder the growth of this market to a certain extent.
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The global dental lab market ecosystem comprises of the following players, namely, DENTSPLY SIRONA Inc. (US), Danaher Corporation (US), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), Ultradent Products, Inc. (US), GC Corporation (Japan), Mitsui Chemicals, Inc. (Japan), Planmeca Oy (Finland), BEGO GmbH & Co. KG (Germany), Septodont Holding (France), Ivoclar Vivadent AG (Liechtenstein), VOCO GmbH (Germany), VITA Zahnfabrik H. Rauter GmbH & Co. (Germany) Kuraray Noritake Dental, Inc. (Japan), and Shofu Inc. (Japan).
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