The top three players in the global dental implants market, namely Danaher Corporation, Institut Straumann AG, and Dentsply Sirona, account for over half the market share. This makes the competitive landscape consolidated in nature. The rest of the market share is held by regional players mostly concentrated in the developing economies of the Asia Pacific.
A report by Transparency Market Research finds that a high degree of competition characterizes the global market for dental implants. Both local and global players as well as new entrants are vying with each other for greater market share in the emerging economies. Prominent companies with a solid presence worldwide are endeavoring to expand their outreach through mergers and acquisitions and long term collaborations.
Entry barriers for aspiring players is high in the market due to the high upfront capital and costs related to regulatory compliance and research and development efforts. The overall revenue in global dental implants market is predicted to expand at a steady CAGR of 7.9% from 2016 to 2024 to attain a value of US$8.18 bn by the end of 2024 from US$4.46 bn in 2016.
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Titanium Implants Hold Sway by Dint of Being Tough yet Lightweight
Depending upon the type, the global dental implants market can be segmented into titanium implants and zirconium implants. Among them, the titanium implants gross more revenue and are predicted to continue doing so in the years to come by clocking a high growth rate. This is because, the commonly used forms of titanium alloys in dental implants are tough, resistant to wear and tear and corrosion, lightweight, and can withstand high temperatures.
Geographically, the key segments of the global dental implants market are Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa. Europe among them is a market leader vis-à-vis overall demand. The region is also home to a large proportion of key players on account of robust government support for research and development. Europe is trailed by North America. In terms of growth, Asia Pacific holds out maximum potential. This is because of the densely populated emerging economies in Asia Pacific witnessing a strong demand for medical facilities, including dental. At present, the robust dental implant market in Asia Pacific is ruled by regional entities, but going forward, this could change with rising disposable incomes and increasing scope of availing insurance coverage.
Burgeoning Geriatric Population Fillips Market
The global market for dental implants is being bolstered by the increasing number of patients stepping forward to treat dental caries. The burgeoning geriatric population, highly susceptible to dental problems are also stoking growth in the market. Other factors facilitating growth in the market is the rising disposable incomes of patients in developing economies and progress in CAD/CAM technologies that is supplanting traditional methods.
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Steep Cost Hampers Uptake
Countering the growth in the global market for dental implants is their expensiveness. Explains the lead analyst of the TMR report, “Although a large number of dental implants are meant to be permanent or long-term, they are still not nearly as affordable as a large contingent of patients would like them to be. The high costs of several types of dental implants is considered to be the leading restraint acting against the overall growth of the global dental implants market. Complicating matters is the overall lack of insurance coverage that stretches into dental work. With a very low number of reimbursement policies surrounding dental implants, patients are consistently deterred from availing advanced treatments being introduced in the global dental implants market.”
This review is based on the findings of a TMR report, titled, “Dental Implants Market (Products – Endosteal Implants, Subperiosteal Implants, Transosteal Implants, and Intramucosal Implants; Materials – Titanium Implants and Zirconium Implants; End Users – Hospitals, Dental Clinics, and Academic and Research Institutes) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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