The global Dentures Market is estimated to be valued at US$ 2975.19 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Dentures are artificial teeth and gums that replace missing teeth and are worn in the mouth. They are an affordable and cost-effective alternative to dental implants or bridges for people missing some or all of their teeth. Partial dentures are used when some natural teeth remain, while complete dentures are utilized when all teeth are missing. Dentures are made from acrylic resin or various composites that closely resemble the color of gums. They help improve chewing ability and speech. Dentures can restore confidence and improve appearance compared to being without teeth.
Market key trends:
One of the key trends in the Dentures Market Growth is the rising edentulous population globally. According to the U.S. National Institutes of Health, about 145 million Americans are missing all their teeth in one or both jaws. Growing number of elderlies across the world are primary factor driving this trend. By 2030, approximately 1.5 billion people aged between 60-79 years are projected globally, according to United Nations data. With advancing age comes higher risks of chronic conditions affecting teeth and jaws. Another notable trend is technological advancements in dentures materials and manufacturing processes. 3D printing and CAD/CAM technologies are increasingly being adopted to fabricate dentures with precise fitting and lifelike aesthetics. Resins infused with medical-grade ceramics and memory polymers allow for superior strength, color stability, and comfort in dentures.
Porter’s Analysis
Threat of new entrants: Low capital requirement but significant cost and time associated with gaining brand recognition in this industry pose high barriers for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power as dentures market has several manufacturers with differentiated products. However, pricing pressure exists from large retailers and pharmacy chains.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials and outsourcing opportunities. However, continuous innovation and customization by manufacturers keeps supplier power in check.
Threat of new substitutes: Threat is moderate as various novel biomaterials and 3D printing-based solutions are emerging but need more clinical validation and acceptance before replacing traditional dentures.
Competitive rivalry: High as the market has many global and regional players competing on the basis of product quality, pricing, innovation, and brand image. Focus is on manufacturing standards, design expertise, and servicing network.
Key Takeaways
The global dentures market size is expected to exhibit a CAGR of 6.5% over the forecast period, due to increasing prevalence of dental issues among geriatric population and rising awareness about advanced denture solutions.
North America dominates the dentures market, owing to rising healthcare expenditure and presence of major players in the region. However, Asia Pacific is projected to witness the fastest growth during the analysis period owing to growing medical tourism, rapidly improving healthcare infrastructure, and rising dental issue burden in developing economies.
Key players operating in the dentures market are Dentsply Sirona Inc., Ivoclar Vivadent Ag, GC America Inc., Kulzer GmbH (Mitsui Chemicals, Inc.), Modern Dental Group Limited, COLTENE Group, VITA Zahnfabrik, Amann Girrbach AG, Formlabs, DIO Corporation, Shofu Inc., and Lang Dental Manufacturing Company, Inc. Major players are focusing on product portfolio expansion through mergers, acquisitions, and partnerships for geographic expansion.
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