Overview of This Research Study:
In order to find and gather data for the study, this research project made considerable use of secondary sources, directories, and databases (including D&B Hoovers, Bloomberg Businessweek, and Factiva). A number of industry experts from both the core and associated industries, as well as preferred manufacturers, distributors, suppliers, service providers, and technology developers, served as primary sources. Standard and certification bodies from businesses and organizations associated with every link in the value chain of this industry were also considered primary sources.
Major Growth Boosting Factors:
The geriatric population’s rapid growth and the resulting rise in the prevalence of edentulism, technologically advanced solutions’ development, the rise in dental tourism in emerging markets, the rising incidence of periodontal diseases and dental caries, the growing outsourcing of customization, and the growing number of dental laboratories investing in CAD/CAM technologies are the main factors driving this market’s growth. There are significant development prospects shown by the rising demand for cosmetic dental operations.
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Factors Which May Hinder Growth:
However, the high cost of dental supplies and equipment, the rising expense of dental procedures, and the difficulty in obtaining medical reimbursement policies are the main obstacles that are anticipated to impede market expansion. Two of the biggest issues facing the market are the pricing pressures that leading companies are under and the lack of qualified workers.
Projected Growth in Revenue Generation:
The global dental laboratories market In terms of revenue was estimated to be worth $35.0 billion in 2022 and is poised to reach $46.5 billion by 2027, growing at a CAGR of 5.9% from 2022 to 2027.
Regional Growth Prospects:
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.
Key Players:
Prominent players in the dental laboratories market are Dentsply Sirona, Inc. (US), Envista Holdings Corporation (US), 3M Company (US), GC Corporation (Japan), Mitsui Chemicals (Japan), Planmeca Group (Finland), BEGO GmbH & Co, KG (Germany), Ivoclar Vivadent (Liechtenstein), VOCO GmbH (Germany), Shofu Dental Corporation (Japan), VITA Zahnfabrik H. Rauter GmbH & Co. KG (Germany), Kuraray Noritake Dental Inc. (Japan), Amann Girrbach AG (Austria), Schütz Dental GmbH (Germany), Nakanishi Inc. (Japan), COLTENE Holding AG (Switzerland), Institut Straumann AG (Switzerland), A-dec Inc. (US). Stratasys (US and Israel), 3D Systems (US), Formlabs (US), Roland DG Corporation (Japan), SHINING 3D (US), and Zirkonzahn (US).
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Recent Developments of Dental Laboratories Industry:
# National Dentex Corporation Acquires Dental Services of Tennessee: National Dentex Corporation, a leading national network of dental laboratories, announced in February 2021 that it has acquired Dental Services of Tennessee (DST). The acquisition will expand National Dentex’s footprint in the Southeast region of the United States and add new capabilities to its product portfolio.
# Glidewell Acquires Florida-based Dental Lab: Glidewell Laboratories, one of the world’s largest integrated dental companies, announced in March 2021 that it has acquired Citrus Dental Lab, a full-service dental laboratory based in Florida.
# 3M Acquires Dental Lab Technology Provider Digital Dental: In April 2021, 3M announced that it has acquired Digital Dental, a developer and provider of software and hardware solutions for dental laboratories and practices. The acquisition will enable 3M to offer an expanded suite of dental lab technology solutions and expand its reach in the dental lab market.
# Patterson Dental Acquires Dental Lab Equipment Manufacturer DMD Solutions: Patterson Dental announced in April 2021 that it has acquired DMD Solutions, a leading manufacturer of dental laboratory equipment. The acquisition will enable Patterson to expand its portfolio of dental lab solutions and provide customers with a more comprehensive range of products and services.
