SEATTLE, March 23, 2021, (MEDGADGET) — Dental implants are surgical material that is used to support or replace missing teeth. They are safe to use are much similar to natural teeth. According to the National Institute of Dental and Craniofacial Research, the geriatric population (aged 65 years and above) have an average of 18.9 remaining teeth, in turn creating a highly lucrative market for dental implants. The advent of advanced technologies coupled with the growing demand for dental implant procedures has resulted in a highly lucrative market characterized by a high-profit margin for players across the value chain. In 2015, dental implants accounted for over 15% share of global dental device market revenue.
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The dental implants market witnessed very sluggish growth in terms of innovation post-1957. However, post 2000, many new companies emerged in the market-leading to fierce competition among players in a highly fragmented industry. As a result, companies are emphasizing on product innovation to sustain and expand their global market presence. For instance, in 2016, Israel–based Magdent launched a miniature electronic device (MED) capable of accelerating bone growth three times faster than normal. The product is yet to receive approval from the U.S. FDA.
The global dental implant market is estimated to be valued at US$ 4,237.2 million in 2019 and is expected to exhibit a CAGR of 6.5% during the forecast period (2020-2027).
Titanium dental implants segment accounted for the largest revenue in the dental implants market
Among product type, titanium dental implants segment is expected to hold a dominant position in the dental implants market over the forecast period. The segment accounted for 44.7% of global market revenue in 2015. However, zirconia dental implants segment is expected to hold dominant position in the market by 2024. Mjaor players are introducing mini-titanium dental implants solutions, which are compatible with biologically active drugs that are usually incorporated on the surface of implant to enhance osseointegration. Morever, titanium dental implants, are highly prefferd as it has longer lifespan.
Zirconia, a corrosion-free metal, is one of the newly introduced concepts in the dental implants market and the zirconia dental implants segment is expected to register the highest CAGR over the forecast timeframe.
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The highly competitive market in Europe to maintain its dominant position over the forecast period
Europe is expected to dominate the market throughout the forecast period. The region is expected to account for 30.8% of the overall market share by 2024. Competition in the dental implants market has increased primarily between Straumann and DENTSPLY Implants. According to Europa, over 25% of the population in Europe is expected to fall under the geriatric age group by 2020. Therefore, such a factor coupled with high discretionary income in the region is expected to continue to position the region as a highly lucrative market for dental implants. Germany has emerged as the key market for dental implants as this country spends the highest on dental health than any other country in Europe.
The Asia Pacific, followed by Latin America is expected to register the fastest CAGR between 2016 and 2024. Asia Pacific market growth is primarily driven on the ground of a growing number of dental implants procedures across emerging economies such as China, India, and Japan. India’s dental implants market is expected to register the highest regional CAGR over the forecast period. There are over 5,000 dental laboratories with around 300 dental institutes and 200,000 dentists in India. Rising a growing consumer base coupled with better economic growth is expected to create lucrative market opportunities for industry players. In 2015, India imported over 77% of dental implant products from Germany, the U.S., Japan, and Italy. The ‘Make in India’ campaign initiated by the Indian government is expected to bolster a number of manufacturing facilities across various healthcare verticals including dental manufacturing sites in the country.
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Emerging economies to offer highly lucrative growth avenues
Dental implant players are focused on strengthening of direct distribution channel along with a partnership with regional manufacturers and distributors. DENTSPLY Implants, Straumann AG, Bicon Dental Implants, Anthogyr, KYOCERA Medical Corporation, Lifecore Dental Implants, Zest Anchors, Implant Innovations Inc, and BioHorizons IPH, Inc., Neobiotech USA. Inc., Sweden & Martina, TBR Implants Group, Global D, and MOZO-GRAU, S.A. are some of the key industry players in dental implants market. Straumann AG and DENTSPLY Implants are leading players in Europe. However, there is a wide variation in the Europe market, since there is a high presence of regional players in Europe. For instance, while TBR Implants Group is a leading France-based dental implants manufacturer, Sweden & Martina holds significant market share in Italy. Nobel Biocare holds significant market share in the Asia Pacific, with the company generating around 17% of its regional revenue from Japan.
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