Major Growth Driving Factors:
Growing tooth repair procedures, rising demand for improved aesthetic dental procedures, expanding dental tourism in emerging markets, and the development of innovative solutions are all factors boosting the global market for dental consumables. However, issues including high dental implant costs and low reimbursements may impede market growth to some extent over the course of the projection period.
Projected Surge in Global Revenue:
The global dental consumables market in terms of revenue was estimated to be worth $35.3 billion in 2022 and is poised to reach $55.7 billion by 2027, growing at a CAGR of 9.5% from 2022 to 2027.
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Global Industry Segmentation:
By Product, the dental restoration segment is expected to account for the largest share of the dental consumables market
The dental restoration segment accounted for the largest share of the global dental consumables market in 2021. The growing prevalence of edentulism across the world and growing demand for implants and cosmetic dentistry are driving the growth of the dental consumables market. The dental restoration procedures comprised of dental specialty treatment such as prosthodontic dentistry, including fillings, veneers, crowns, bridges, full and partial dentures and dental implants. Surging volume of patients suffering from dental disorders, surging consumption of dental restorative materials among adults, increasing demand for the restorative material or the conservation of tooth structure are some of the major factors which will likely to augment the growth of the dental restoration segment.
End Users:
By End User, the dental hospitals and clinics segment is expected to account for the largest share of the dental consumables market
The dental hospitals and clinics segment accounted for the largest share of the global dental consumables market in 2021. The large share of this segment can be attributed to the increasing number of dental clinics and hospitals across emerging markets, increasing enrollment in dental courses and the high number of freshly passed out dental students per year. For instance, according to data published by NCBI, in 2019, 2.7 lakh dentists were registered with the Dental Council of India (DCI) per year.
Regional Growth Segmentation:Europe to dominate the dental consumables market during the forecast period
Europe is the largest regional market for dental consumables with respect to market share in 2021. The growing geriatric population, increasing government expenditure on oral healthcare, and the growing number of group dental practices are the key factors driving the growth of the dental consumables market in Europe.
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Opportunity: Growing focus on emerging markets & rising disposable income levels
The penetration rate of dental implants is very low in most developing countries and certain developed countries, such as the UK and Germany. Large and emerging economies such as China and India have a low penetration rate for dental implants due to the high cost of dental implant procedures and a lack of qualified dental professionals. According to Institut Straumann, only 15–20% of the 1.2 million active dentists across the globe perform implant procedures, with South Korea and Italy having the highest penetration rate of dental implants. The untapped market potential in these regions offers significant opportunities for players operating in this arena.
Additionally, favorable government policies and initiatives attract several industry stakeholders to these markets. For instance, reducing customs duty for dental products from 16 to 8% in India has opened avenues for international players. Furthermore, in China, the government’s deregulation and relaxation of norms for setting up private healthcare facilities have boosted the number of privately owned dental clinics. Such government initiatives in emerging economies will encourage the adoption of advanced technologies, such as CAD/CAM systems and high-quality restoration products and materials.
