Report Objectives:
# To define, characterize, and project the worldwide dental laboratory market according to prostheses, materials, equipment, and geography.
# To offer comprehensive details about the key elements (drivers, constraints, opportunities, and challenges) affecting the market’s growth.
# To examine micromarkets in terms of their respective growth patterns, future potential, and market share contributions.
# To assess market opportunities for stakeholders and give important market players information about the competitive environment.
# To estimate market size in relation to the five key regions: Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa.
# To create a complete analysis of the core competencies and market shares of the major companies in the worldwide market with respect to important market developments, product portfolios, and financials.
# To monitor and assess competitive developments, including agreements of major participants in the worldwide market, partnerships, product launches, expansions, and mergers and acquisitions.
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Projected Revenue Growth During Forecast Period:
The market for dental laboratories worldwide Revenue was projected to be $35.0 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% to reach $46.5 billion by 2027.
Driver: An increase in the elderly population and instances of dentulism
The number of incidences of edentulism and the increase in the older population are driving demand in the market. The industry is growing as a result of the advancement of new technologies like as 3D printing and CAD/CAM, which enable the production of dental prostheses like veneers, crowns, bridges, and dentures that are customized for every patient. In addition, growing awareness of oral hygiene and the need for cosmetic dentistry operations are driving market expansion.
Restraint: high price of dental supplies and equipment
One major barrier to the market could be the high price of dental equipment and supplies. It’s possible that many dental laboratories cannot afford the newest tools and materials needed to remain competitive. In the event that dental laboratories are underfunded or do not have access to financing, it may be difficult for them to make the investments in the newest equipment and materials needed to generate high-quality work. The financial burden of personnel training, equipment maintenance and repair, and other costs can also be very high for dental laboratories. Therefore, the high cost of dental supplies and equipment may limit the market’s potential for expansion.
Opportunity: Rising demand for dental cosmetic procedures
In the upcoming years, it is expected that the global market for cosmetic dental procedures would grow significantly due to the growing demand. The primary causes of this growth include the advent of new technology, such as CAD/CAM systems and 3D printing for dental prostheses, as well as better access to dental care services and rising knowledge of oral hygiene. The growing need for cosmetic dentistry operations including veneers, crowns, implants, and bridges is another factor propelling the industry. Preventive dentistry is also driving market expansion as more people select examinations and treatments. Furthermore, the industry is expected to be further stimulated by the growing senior population and rising disposable incomes in emerging economies.
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Global Geographical Segmentation:
Over the course of the projection period, the dental labs industry in APAC is expected to develop at the fastest rate.
In the Asia-Pacific region, dental laboratories accounted for almost 30% of the global market. The APAC market is expanding due to a number of factors, such as an aging population, a rise in dental tourism, a development in dental laboratories, and an increase in the outsourcing of various industrial services to the region. UN estimates indicate that 727 million individuals globally will be 65 years of age or older by 2020. There will be 1.5 billion older persons on the earth by 2050.
Dental lab product demand is expected to rise because this population is more prone to experience tooth loss and conditions like cavities and gum disease. The industry is also influenced by customer adoption of cutting-edge technology and need for improved aesthetics.
