Pune, India, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The global dental market size was USD 28.12 billion in 2020. The market is projected to grow from USD 29.63 billion in 2021 to USD 45.68 billion in 2028 at a CAGR of 6.4% in the 2021-2028 period.
This information is provided by Fortune Business Insights™, in its report, titled, “Dental Market, 2021-2028.”
As per our analysts, a sturdy upsurge in the dental expenditure levels is expected owing to better mindfulness concerning oral health leading to an increasing demand for dental aesthetics. These predominant trends have resulted in a robust rise in the demand for novel oral care products, leading to a number of inventive product launches.
Industry Development
March 2021: Dentsply Sirona declared the procurement of all the possessions of Propel Orthodontics. Propel Orthodontics is a prominent producer, and global vendor of orthodontic devices.
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Drivers and Restraints
Upsurge in Expenditure on Dental Services to Bolster Market Growth
One of the most prominent driving factors of the global market is the robust rise in the expenditure regarding teeth related products in several nations across the world. Numerous aspects such as geriatric population, surge in expendable income, growth in occurrence of oral caries and periodontal illnesses, expansion in private health insurance penetration are contributing to an escalation in expenditure on dentist services. These factors are responsible for contributing towards the dental market growth during the forecast period.
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Segmentation
On the basis of type, the global market is segregated into dental consumables, and dental equipment. The dental consumables segment comprised of a leading proportion of the market share in 2020, which is attributable to the existence of key oral products such as orthodontics in this segment.
In terms of end user, the market is classified into solo practices, dental service organization (DSO)/ group practices, and others.
Based on region, the global market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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North America to Dominate Market due to Improving Dentistry Services
The market size in North America was worth USD 11.81 billion in 2020 and the region is projected to account for dominant dental market share during the forecast period. Few of the aspects responsible for the growth of the market in the region comprises escalation in quantity of dentists in the U.S., pooled with constant growth in the amount of patient pool requiring oral care in the nation.
Europe accounted as the second largest market in 2020, which is accredited to the swift rise in number of adults and teenagers confronting orthodontic treatment coupled with other procedures in the region.
Asia Pacific is anticipated to observe the highest CAGR during the forecast period of 2021-2028.
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Procurements Triggered by Crucial Companies to Endorse Market Growth
The dominating players in the market incessantly root for proficient tactics to boost their brand value as well as endorse the global market growth of the product with confronting least imaginable hurdles. One such effective stratagem is procuring competitive companies and further safeguarding a profit for both the companies. Another strategy upended by some players is to fast track research and development activities in order to launch the latest generation of products in order to capture a larger consumer base.
List of Key Players Covered in this Market Report
- Dentsply Sirona (Charlotte, U.S.)
- Align Technology, Inc. (San Jose, U.S.)
- ENVISTA HOLDINGS CORPORATION (Ormco Corporation) (Brea, U.S.)
- 3M (Saint Paul, U.S.)
- Ivoclar Vivadent (Schaan, Liechtenstein)
- PLANMECA OY (Helsinki, Finland)
- J. MORITA CORP. (Osaka, Japan)
- Kulzer GmbH (Hanau, Germany)
- Ultradent Products Inc. (South Jordan, U.S.)
- Carestream Dental LLC (Atlanta, U.S.)
- Zimmer Biomet (Warsaw, U.S.)
- Septodont (Saint-Maur-des-Fossés, France)
- Coltene (Altstätten, Switzerland)
- Vatech (Gyeonggi-do, South Korea)
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