Dentsply Sirona, Danaher Corporation, Henry Schein Inc., and Zimmer Biomet Holdings, Inc. constituted the dominant share of 62% in the global dental consumables market.
Amidst cut-throat competition, these companies have managed maintaining a low pricing strategy. This, besides their excellent brand identify has helped the companies emerge at fore, rendering the global dental consumables market a consolidated vendor landscape, finds Transparency Market Research (TMR) in a new study.
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According to TMR, the global dental consumables market is expected to worth US$33.4 bn by the end of 2024, as compared to its market value of US$19.6 bn in 2015. If these figures hold true, the global market will exhibit a CAGR of 6.1% between 2016 and 2024.
Europe to Continue Dominating the Global Landscape
Dental implants, retail dental care essentials, orthodontics, crowns and bridges, endodontics, periodontics, and dental biomaterials are among the key products available in the global dental consumables market. Of these, exhibiting a CAGR of 7.2% between 2016 and 2024, the crowns and bridges segment is expected to boast dominance in the market.
Regionally, Asia Pacific, Latin America, North America, Europe, and the Middle East Africa constitute the leading segments in the global dental consumables market. Of these, Europe is expected to remain the leading market for dental consumables, acquiring nearly 41.1% of the market by the end of 2024.
In Europe, the dental consumables market is expected to witness the highest demand from the U.K., Spain, and Green.
Success Rate Achieved from Dental Implants Use Bode Well for Market
Rising medical tourism in countries such as India, Hungary, and Turkey has aided in the market’s expansion, as a majority of medical tourist visit these nations to seek advanced dental treatments and procedures. This has spurred enormous demand for demand for dental consumables in the last few years.
Besides this, emerging nations such as India and China provide advanced dental care services at a comparatively lower cost, which has been luring customers from across the globe over the past few years. Low labor cost, minimum government intervention, and cost-effective treatment have boosted dental tourism, which in turn will creative lucrative opportunities for dental consumables manufacturers.
The success rates of dental implants have surged as well, especially in cases requiring procedures to be conducted for the upper jaw. This high success ratio has played a crucial role in triggering the market’s growth in the last few years.
Besides this, the demand for dental implants has risen on account of the increasing incidence of dental diseases such as tooth erosion, tooth decay, mouth sores, and other forms of gum diseases. Furthermore, the rising prevalence of periodontal diseases have amplified the demand for dental consumables across the world.
the rising disposable income and changing lifestyle across emerging nations have impelled patients therein to invest in dental health. This fuels growth prospects for enterprises operating in the dental consumables market.
Poor Reimbursement Policies Emerges as Major Concerns
Despite the presence of immense growth opportunities, the global dental consumables market has continued reeling under high treatment cost and poor reimbursement policies across developing and underdeveloped countries. High cost of dental consumables has made the treatment costlier, which is forecast to adversely impact the global sales of dental consumables.
Furthermore, poor reimbursement policies are observed in developed nations such as France, Australia, Japan, Germany, Italy, Spain, and the U.S. This could have negative impact on the dental consumables market across aforementioned countries as patients are coaxed to seek treatment from cheaper places.
Global Dental Consumables Market Report
This review reiterates information from a TMR report, titled “Dental Consumables Market (Product - Dental Implants, Crowns and Bridges, Dental Biomaterials, Orthodontics, Endodontics, Periodontics, Retail Dental Care Essentials, and Dental Consumables) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
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