Albany, New York, April 30, 2018 (GLOBE NEWSWIRE) -- TMR has envisaged the global dental consumables market to expand at a 6.1% CAGR during the completion of the forecast tenure 2016-2024. By the final forecast year, the market could be worth a US$33.4 bn. In 2017, it had borne a valuation of US$22.2 bn. In terms of product, crowns and bridges could lead the market while growing at a 7.2% CAGR. Regionally, Europe has been foreseen to take a king’s share of 41.1% by the end of 2024.
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Development of Dental Implant Techniques Reduces Absolute Contraindications
Increasing dental tourism as a result of a high demand from patients in developed countries looking for advanced and low-cost oral treatments has been predicted to set the tone for valuable growth in the world dental consumables market. Narrowing range of absolute contraindications in current implant therapies due to advancements in analysis of extensive outcome data, bone grafting procedures, and implant designs could also help the market to improve growth in the near future. Today, close to a 47.2% adults in the U.S. have a severe, moderate, or mild form of periodontitis, as per a study of the American Academy of Periodontology. Thus, swelling prevalence of dental diseases has been projected to escalate the demand for dental consumables.
Deprivation of Appropriate Reimbursement Policies Rattles Market
Steep dental treatment fees and expensive costs of a number of dental consumables have been anticipated to upset the growth of the market during the course of the forecast period. Medical insurance policies not covering patients required to undergo expensive dental procedures could be another factor causing a slack in market growth. Moreover, a few developed nations lack proper reimbursement policies for periodontal surgeries and implants. Furthermore, allergies related to dental implants have been predicted to hamper the demand in the foreseeable future.
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Nonetheless, high unmet medical needs, especially in emerging nations such as China and India, could give some relief to players amidst the expected slowdown in growth due to the aforementioned factors. Players may also tap into the opportunity created with the telling difference in dentist to population ratio not just in emerging but also developed economies. Improved average per capita income of the population in emerging countries because of economic growth could help patients to become unhesitant in their spending on dental procedures.
The global dental consumables market has been forecasted in a report by Transparency Market Research (TMR) to find prominent players focusing on joint ventures, takeovers, and mergers in order to secure a strong position in the coming years. Danaher Corporation, Henry Schein Inc., and Dentsply Sirona are among the leading companies operating in the market. They have been observed to have largely concentrated on brand recognition and low pricing with a view to stay ahead of the curve.
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Transparency Market Research (TMR) 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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