Transparency Market Research (TMR) observes that players operating in the global dental laboratories market are expected to adopt advanced technologies in the near future. Companies such as Danaher Corporation, 3M Health Care, Henry Schein, Inc., Dentcare Dental Lab, and Institut Straumann AG are focused on delivering a precision-driven output to their clients over a long term. Product innovation and making value addition to existing services are also projected to be two important strategies of the players in the global market.
According to the research report, the global dental laboratories market is expected to be worth US$20,234.1 mn by the end of 2023 as compared to US$12,991.6 mn in 2014. During the forecast period of 2015 and 2023, the global market is projected to progress at a CAGR of 4.9%. The high prevalence of dental issues amongst people across the globe is expected to drive the global market in the coming years.
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Dental Supplies Lead the Game as Cost Efficiency Proves to be an Important Factor
The global dental laboratories market is segmented into dental supplies, equipment, and consumables. Of these, the dental supplies application segment is projected to lead the pack. The products included in the dental supplies segment are prosthetic, orthodontic, aesthetic, fillings, sutures, and endodontic supplies. The convenience of using these, negligible pain, and cost efficiency are some of the key factors likely to favor this segment in the near future.
From a geographic point of view, North America is expected to dominate the global dental laboratories market. The strong presence and acceptance of advanced healthcare in the region is projected to be the primary growth driver. Additionally, supportive government initiatives and robust infrastructure are also expected to play a pivotal role in defining the trajectory of the regional market in the near future.
Increasing Awareness of Periodontal Diseases amongst Geriatrics to Boost Global Market
The World Health Organization states that dental issues were reported to be a major health concern amongst the high-income countries such as the U.S. in 2012. The statistic further elucidates that about 60% to 90% of the school-going children and several adults are afflicted by various dental problems. In addition to these factors, the growing pool of geriatrics with periodontal diseases are expected to make a major contribution to the overall market. The global dental laboratories market is also being driven by the increasing demand for cosmetic dental surgeries, improving awareness about oral healthcare, and other dental deformations.
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Technological advancements and increasing expenditure on dental healthcare are also expected to boost the market growth. For instance, incorporation of hydroxyapatite and bone morphogenic proteins for implants has drastically reduced the time spent on a dental chair by the patient by allowing faster healing. Furthermore, introduction of procedures that are significantly painless have also bolstered market growth. Incorporation of computer aided manufacturing (CAM) and computer aided design (CAD) techniques has enabled dentists and patients to achieve an accurate outcome in terms of procedures, imaging, planning, and handling of procedures.
On the downside, the global dental laboratories market is likely to be challenged by the paucity of skilled techniques. The market is also likely to be stifled by the lack of affordability to seek help for dental procedures in developing economies. The delayed adoption of advanced technologies in emerging economies is also anticipated to hamper market growth in the near future.
This review is based on Transparency Market Research’s report, titled “Dental Laboratories Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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