The Global Dental Prosthetics Market is expected to register a CAGR of 5.5% and is anticipated to reach USD 5659.4 Million by 2023. Dental prosthetics are mostly in use for the improvement of damaged or deficient teeth. It improves functions as well as the appearance of teeth. It also deals with the permanent or temporary replacement of missing teeth. Dental adhesives or screws are used to fix the dental prosthesis to teeth or dental implant.
The increasing number of dental caries, increasing per capita disposable incomes in emerging markets, rising dental tourism, and growing cosmetic dentistry treatments are the major drivers propelling market growth. However, the cost of dental procedures, the grey market of dental prosthetics, and slow adoption of new technology may hinder the growth of the market.
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Dental caries is not only prevalent in children but also adults. About 1.8 million dentists are working around the world, and over 93% of WHO member states report having less than one dentist per 1000 population. 60%-90% of the children are facing dental problems, and the majority are from developed countries. Due to changing eating habits and increasing consumption of junk food and sugar are leading to an increase in several dental patients. Additionally, rising per capita disposable incomes in emerging markets, rising dental tourism, and increasing cosmetic dentistry treatments are driving the market growth. On the other hand, the cost of dental procedures, the grey market of dental prosthetics, and slow adoption of new technology are anticipated to hamper the market growth.
The global dental prosthetics market has been segmented into type, diagnosis & treatment, and end user. By type, the market has been divided into denture, crown, bridges, veneer, abutment, and inlays. The global dental prosthetics market, by type of material, has been segregated into porcelain-fused-to-metal (PFM), metal, all-ceramic, and others. By end user, the market has been divided into hospitals and clinics and dental research laboratories. The hospitals and clinics segment accounted for a market value of USD 3133.8 million in 2016.
The prominent players in the global dental prosthetics market are Henry Schein, Inc. (US), DENTSPLY Sirona (US), 3M (US), Institut Straumann AG (Switzerland), Zimmer Biomet (US), Nobel Biocare (Switzerland), Ivoclar Vivadent AG (Liechtenstein), Osstem Implant (South Korea), Planmeca OY (Finland), and CAMLOG Biotechnologies AG (Switzerland).
Some of the key strategies followed by the players operating in the global dental prosthetics market were innovation, product development, acquisition, and expansion.
The global dental prosthetics market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is estimated to dominate the global dental prosthetics market during the forecast period. This is attributed to increasing incidences of periodontal diseases and the rising consumption of junk foods. The European market for dental prosthetics is expected to be the second-largest during the forecast period. The increasing geriatric population, which is a crucial target demographic, is expected to boost the growth of the market in this region.
Asia-Pacific is estimated to be the fastest-growing market due to rising healthcare spending by governments across developing countries and medical tourism. Moreover, a large pool of the patient population, untapped markets, and favorable government policies are likely to provide good opportunities for market players in this region. Moreover, in the Asia-Pacific region, Australia accounted for a market share of 26.8% in 2016. Furthermore, the market in the Middle East & Africa is expected to witness steady growth due to limited access and healthcare affordability among the developing population.