Dental Prosthetics Market Size [2019-2026] worth USD 9.71 Billion | exhibiting a CAGR of 6.0% – GlobeNewswire
| Source: Fortune Business Insights Fortune Business Insights
Pune, India, Aug. 18, 2022 (GLOBE NEWSWIRE) —
The Global “Dental Prosthetics Market Size” is predicted to reach USD 9.71 billion by 2026, exhibiting a CAGR of 6.0% during the forecast period. The increasing prevalence of periodontal diseases will have a positive impact on the dental prosthetics market revenue during the forecast period. The growing cases of dental caries and tooth loss will spur opportunities for the market during the forecast period. In addition, the surge in the cosmetic industry will bolster healthy growth of the dental prosthetics market during the forecast period, states Fortune Business Insights in a report, titled “Dental Prosthetics Market Size, Share & Industry Analysis, By Type (Crowns, Bridges, Abutments, Dentures, and Others), By End User (Dental Hospitals & Clinics, Dental Laboratories, and Others), and Regional Forecast, 2019-2026” the market size stood at USD 6.09 billion in 2018.
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Market Growth Drivers
Growing Prevalence of Dental Diseases to Fuel the Dental Prostheses Demand
The global market for dental prosthetics is growing due to the increase in the number of cases with dental caries, periodontal diseases, tooth loss, growing expendable income, expanding dental tourism, and blooming cosmetic industry. Dental prostheses are intraoral custom-built personalized appliances. These prostheses are used to re-establish lost parts of teeth, correct deficient teeth and soft or hard structures of the jawbone or the palate. Such prostheses are used to rehabilitate mastication (chewing), improve aesthetics, and aid speech.
Increase in the prevalence of the dental diseases is the major factor boosting the growth of the dental prosthetic market. The dental diseases such as tooth decay, periodontal diseases, and palate are the most unnoticed cases and need immediate attention by populace throughout the globe. According to the World Health Organization 2016, about half of the world’s population (3.58 billion) was estimated to be affected by oral diseases. Thus, growing prevalence of oral diseases and dental caries are boosting the demand for dental prosthetics around the globe.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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High Demand for Dental Products to Augment Development in Europe
The dental prosthetics market in Europe generated a revenue of 2.48 billion in 2018. The growth in the is attributed to the higher diagnosis and treatment rates for dental diseases. The rising dental expenditure and utilization of dental services will aid the growth in the region. The increasing demand for premium dental products will further enhance the market in Europe. The market in Asia Pacific is likely to grow rapidly during the forecast period owing to the rising prevalence of dental caries and growing geriatric population. The growing disposable income will bolster healthy growth of the market in Asia Pacific.
Acquisition of Henry ScheininCliniclands to Back Growth
Henry Schein, Inc., an American distributor of health care products and services announced that it hasacquired majority of equity stake in Cliniclands, an innovative distributor serving dental practices throughout Sweden, Denmark, and Norway. The new development of Henry Schein can be an essential factor in boosting the dental prosthetics market trends owing to the variety of dental consumables offerings such as implants, prosthetic and orthodontic solutions as well as small and office equipment. Furthermore, Chairman of the Board and Chief Executive Officer of Henry Schein, Stanley M. Bergman, said in statement. “Cliniclands is a rapidly growing, successful company built upon a valuable business model. We are delighted to partner with the co-founders and the entire Cliniclands team.
Our two companies have a shared commitment to the use of advanced technology to help our customers run successful, profitable businesses. We expect to achieve meaningful operating synergies and category expansion while expediting the delivery of products to Scandinavian dental customers.” In addition, the increasing advancement in technologies such as 3D printing and CAD/CAM technologies for teeth customization will enable speedy growth of the market in the foreseeable future. Nonetheless, the rising use of mini dental implants due to their benefits such as non-invasive nature and low cost will spur demand for dental prosthetics in the forthcoming years.
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