The global market for dental consumables was led by U.S. based Danaher Corporation in 2014. The company has its research and development, distribution, manufacturing, and administrative bases in more than 50 countries. The top four market players, Zimmer Biomet Holdings, Inc., Danaher Corporation, Henry Schein Inc., and Dentsply Sirona accounted for 62% of the global dental consumables market in the same year. Several leading market players have been aggressively securing partnerships, acquisitions, and mergers to gain a competitive edge. For example, in 2013, DENSPLY International, Inc. purchased Hong Kong based QAHR. In February 2016, Henry Schein acquired RxWorks, Inc., a supplier of veterinary practice management software.
As per the findings of Transparency Market Research (TMR), a revenue worth US$33.4 bn will be achieved by 2024. In 2015, the global dental consumables market was pegged at US$19.6bn. The market is projected to expand at a favorable CAGR of 6.1%, states TMR. Europe emerged at the fore among the regional markets, accounting for a mighty 40.7% share of the global dental consumables market in 2014.
Browse Press Release of this Research Report: http://www.transparencymarketresearch.com/pressrelease/dental-consumables-market-size.htm
Advanced Healthcare Facilities in Developing Nations to Bring About Growth
The population worldwide continues to suffer from dental caries and periodontal diseases. The high demand from countries such as Australia, Canada, the U.S., Japan, and parts of Western Europe can be attributed to the rising healthcare expenditures in these regions. Increasing per capita incomes of people in emerging economies have facilitated access to expensive dental treatments.
The tremendous growth of this region is backed by advanced dental health facilities and increase in healthcare funding in countries such as Norway, the U.K., Greece, and Spain. Europe is closely followed by North America, where the growing baby boomer generation and implementation of the Affordable Care Act have been major growth drivers.
Asia Pacific is a region furnishing immense potential. Lack of government intervention or deregulation, rising popularity of dental tourism, and rising awareness among the people have been the prominent factors responsible for the growth of this region. Growing consumption of fluoride toothpaste and water fluoridation have also been promoting growth.
Popularity of Dental Tourism to Accelerate Expansion
Dental tourism refers to the collateral service provided to patients who cannot afford expensive dental treatments. Developing countries such as India, Singapore, Hungary, China, and Turkey encourage dental tourism with a view to bring in patients from the western countries who prefer low cost and high quality treatments. The need for painless procedures and the rising geriatric population are some of the prominent factors driving the global dental consumables market. With the increasing age, the risk of developing a dental disorder increases, which in turn fuel the demand for dental consumables.
Fill the form for an exclusive sample of this report : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=554
Moreover, conditions such as obesity, cardiovascular diseases, and diabetes are associated with declining dental health. As the prevalence of these disorders increases, the global market for dental consumables will expand at a positive pace. Recent technological advancements have led to painless treatments and the birthing of minimally invasive techniques, further boosting the market. The materials, implant design, geometry, and techniques used in dental implants have undergone significant scientific development, bringing in more demand.
On the contrary, the lack of proper reimbursement policies in countries such as Japan, Germany, Spain, France, the U.S., Australia, and the U.K. might restrict the growth of the global dental consumables market. Lack of awareness and low spending capacities of people in emerging economies might also emerge as major bottlenecks. However, the impact of these deterrents is likely to be negated by the high prevalence of unmet needs of the vast population in Asia Pacific.
Transparency Market Research
90 State Street,
NY – 12207
USA – Canada Toll Free 866-552-3453