Dental Prosthetics Market Driven by Growing Disposable Income of Geriatric Population
Market Research Future (MRFR) expects the global dental prosthetics market to exhibit a CAGR of 5.5% from 2016 to 2023, according to a new report published by the firm. The report provides a deep analysis of the leading drivers and restraints of the global dental prosthetics market, including their impact on the market’s movement over the forecast period. The leading segments and key players in the global dental prosthetics market are also profiled in the report to provide readers with a clear picture of the market’s dynamics. The global dental prosthetics market is expected to reach a valuation of USD 5,659.4 million by 2023.
Dental prosthetics are used to replace missing teeth. They are made from various materials and are placed in place of the missing teeth with the help of dental screws or adhesives. The field of dental prosthetics is known as prosthodontics. The global dental prosthetics market has been driven by the growing demand for prosthetics to maintain a pleasing appearance despite the loss of teeth and the growing prevalence of dental problems around the world. The growing geriatric population is likely to be a major driver for the global dental prosthetics market over the forecast period due to the increasing demand for dental prosthetics from the geriatric demographic and their increasing disposable income. The increasing demand to maintain the dental structure as late into life as possible is key to the rise in demand for dental prosthetics and is likely to remain a key driver for the dental prosthetics market over the forecast period.
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The growing prevalence of dental problems, including cavities and other more advanced problems, is also likely to be a major driver for the global dental prosthetics market over the forecast period. The increasing consumption of sugar-rich and starch-rich foods such as candies and chips is likely to drive the prevalence of dental problems, thus driving the global dental prosthetics market over the forecast period.
Competitive Analysis:
Leading players in the global dental prosthetics market include Henry Schein Inc., 3M, Zimmer Biomet, Ivoclar Vivadent AG, Planmeca OY, CAMLOG Biotechnologies AG, Osstem Prosthetics, Nobel Biocare, Institut Straumann AG, and Dentsply Sirona.
Regional Analysis:
The global Dental Prosthetics Market Share is dominated by North America, due to the growing geriatric population in the region, the growing disposable income of consumers in the region, and the growing prevalence of dental problems in the region. The steady advancement of the dental healthcare sector in this region is likely to keep the growth prospects for the dental prosthetics market high over the forecast period. The growing geriatric population and the increasing average age of death is also likely to be a major driver for the dental prosthetics market in the region, as people face more of a need for dental prosthetics as they become older.
Europe is the second largest regional market for dental prosthetics and is likely to remain in the position over the forecast period due to the growing demand for dental prosthetics from the geriatric population in the region.
The demand from the dental prosthetics market is growing in Asia Pacific, which is expected to exhibit a robust growth rate in the global dental prosthetics market over the forecast period due to the growing disposable income of consumers in the region and the growing prevalence of dental conditions. However, the lack of industry standards for the production of dental prosthetics could hamper the dental prosthetics market in Asia Pacific. In January 2019, the government of the state of Maharashtra in India issued a resolution giving local authorities a freer reign in controlling the threat of illegal dental prosthetics labs, of which there are thought to be around 300 in the state. Such threats could hamper the growth of the dental prosthetics market in Asia Pacific over the forecast period.
Segmentation:
The dental prosthetics market has been segmented on the basis of type, material, end user, and region.
On the basis of type, the global dental prosthetics market is segmented into dentures, crowns, bridges, veneer, abutment, and inlays.
On the basis of type of material, the market is segmented into porcelain-fused-to-metal (PFM), metal, all ceramic, and others. Porcelain-fused-to-metal prosthetics held a dominant share of close to 40% in the global dental prosthetics market in 2016 and are likely to remain the dominant revenue generator in the global market over the forecast period.
On the basis of end user, the dental prosthetics market is segmented into dental hospitals & clinics and dental research laboratories.
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