Acknowledging the developments and accruals the market is enjoying currently, Market Research Future (MRFR) in its recently published study report asserts that the global dental consumables market will be valued at USD 28,345 MN by 2024, registering approximately 7 % CAGR during the forecast period (2016 – 2024).
The Dental Consumables Market is growing pervasively mainly due to the technological advancements that took place in the dental industry. Although the integration of technology & consumables in dental practices goes back to decades, the uptake of consumables has been increasing over the past few years, and so is increasing the growth of the dental consumables market. Furthermore, factors such as the wide adoption of dental consumables along with the increasing geriatric populace, prevailing dental disorders and surgeries are driving the market growth.
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The rapidly growing dental treatment market is stressing on the wide uptake of advanced dental consumables which, in turn, offers lucrative opportunities to the players of the market. The proliferation of the Internet and smart connected devices acts as a tailwind influencing the market growth positively. Simultaneously, the market penetration of smartphones is a key driving force behind the market increase.
Attributing to the augmented applications of these consumables in the related market to target more users for branding the solutions, products & services; uptake of dental consumables is estimated to upsurge in small and medium setups during the prognosticated period.
On the other hand, these dental consumables are costlier especially in developing and underdeveloped nations which in turn, is hampering the market growth in these regions restricting the uptake of consumables. Also, the operational complexities of these consumables may restrain the growth of this market.
Some of the leaders in the market include 3M, Septodont, Straumann, KERR Corporation, Henry Schein, GC orthodontics, Patterson Dental, EnvisionTEC, American Orthodontics, Dentsply Sirona, Planmeca OY, and Nobel Biocare (Part of Danaher Corporation).
Dental Consumables Market – Segments
MRFR has segmented the analysis into two key dynamics for the convenience of understanding;
By Type : Dental Implants, Dental Prosthetics, Dental Restorative Materials, and Dental Regenerative Materials among others.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
Global Dental Consumables Market – Regional Analysis
The European region leads the global dental consumables market with the largest share. The market growth is majorly fostered by the increasing per capita healthcare expenditures led by the resurging economy and the proliferation of healthcare sector in the region. Also, factors such as well-spread awareness among people towards oral health, especially in countries such as the UK, Germany, and Italy support market growth at a large scale.
The North American region closely following the European market accounts for the second-largest market for dental consumables. The market growth attributes to the increasing digital advancement in medical technology. The growing market in the US, backed by the high healthcare expenditures especially into the dental segment majorly supports the market growth in the region. Additional factors such as the huge technological advancements and uptake is a dominant factor fostering the growth of the North American dental consumables market.
The dental consumables market in the Asia Pacific region is proliferating rapidly, emerging as a promising market, globally. The burgeoning dental treatment markets, especially in India & China, backed by the vast population and the large unmet clinical needs fuel the market growth in the region.
Besides, some of the APAC countries such as Thailand, Vietnam, and Malaysia are estimated to contribute to market growth during the review period significantly. Offering substantial growth opportunities with the increasing awareness towards new technologies in untapped markets; the Asia Pacific dental consumables market will grow with approximately 7 % CAGR during the estimated period (2016-2024).
Global Dental Consumables Market – Competitive Analysis
Highly competitive dental consumables market appears to be fragmented owing to the presence of many large and small-scale players. These players are adopting the strategic initiatives for business expansion plans in the emerging markets. Key players are focusing on optimized situational awareness to ensure their mission success. Matured players are continually seeking expansion through various strategic initiatives such as M&A activities, collaboration & innovations.
Matured players invest in R&D activities increasingly. Key players possess state of the art facilities to develop cost-effective product portfolio and a stable marketing network which can help them to gain the leadership position in the market while marketers operating in the dental industry are focusing on inbound lead generation more than ever, instantiating ROI-oriented strategies that can pay off quickly.
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Industry/ Innovation /Related News:
November 18, 2018 – Cantel Medical Corporation (US), a leading company involved in the production and selling of medical equipment announced that it intends to acquire Omnia (Italy), a leading seller of a variety of dental surgical consumables for up to USD 31.9 MN in total consideration to expand in the European markets.
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