The dental turbine is an essential component of modern dental handpieces used by dentists for procedures like cavity preparation, surgical drilling and tooth restoration. Powered by electricity or compressed air turbine handpieces provide superior precision and control to dentists during procedures compared to traditional air driven handpieces. Advantages like varied speed range, high power, short working length and lightweight make dental turbines ideal for cosmetic dental work like veneers, crowns and dental implants. Rising consumer demand for aesthetic and precision dentistry is driving increased adoption of dental turbine handpieces by dentists globally.
The global Dental Turbine Market is estimated to be valued at US$ 115.9 Mn in 2023 and is expected to exhibit a CAGR of 13.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The increased demand for cosmetic dental procedures is a major opportunity for the dental turbine market. Procedures like dental veneers, crowns and dental implants require precision cutting and drilling which is best achieved using high speed, lightweight dental turbine handpieces. Developed markets in North America and Europe have seen rising consumer interest in aesthetically enhancing dental procedures in recent years. With greater awareness and focus on physical appearance in developing regions, the demand for cosmetic dentistry is anticipated to grow rapidly. This will drive the adoption of technologically advanced dental turbines by practitioners globally. The dental turbine market players can capitalize on specialized marketing and product development targeting the cosmetic dentistry segment to gain increased revenues over the forecast period.
Porter's Analysis
Threat of new entrants: High capital requirements to set up dental facilities and manufacturing plants discourage new companies from entering the market. However, the high market growth rate also attracts new players.
Bargaining power of buyers: Buyers have medium bargaining power due to availability of many dental turbine manufacturers. However, brand loyalty and quality influence their purchase decisions.
Bargaining power of suppliers: Suppliers of dental turbine components have low bargaining power due to availability of substitute components and intensity of competition in the dental devices industry.
Threat of new substitutes: Threat from new substitutes is medium as dental handpieces powered by air, electricity or ultrasound can substitute turbines. However, turbines are preferred for high-speed cutting.
Competitive rivalry: The market is highly competitive due to many global and regional players. Players compete based on product features, quality, price, and brand reputation.
SWOT Analysis
Strengths: Dental turbines provide high speed and precision required for various dental procedures. Leading manufacturers have robust R&D and global distribution network.
Weaknesses: High costs of dental turbines limit their adoption in price-sensitive regions. Lack of training can hinder effective use of advanced turbine features.
Opportunities: Rapidly growing geriatric population and dental tourism will boost the demand for dental healthcare services. Increasing awareness about oral health presents opportunities.
Threats: Stringent regulations add to manufacturing costs. Economic slowdowns can reduce disposable incomes available for non-essential dental treatments.
Key Takeaways
The Global Dental Turbine Market Size is expected to witness high growth owing to increasing geriatric population, rising incomes, and growing medical tourism. The Asia Pacific region holds the major share of the global market currently due to growing dental expenditures and supportive government initiatives in major countries like India and China. The number of dental clinics and hospitals are rising in Asia due to increasing oral healthcare awareness and expanding dental insurance coverage.
North America also holds a significant share of the market and is expected to grow steadily during the forecast period. Presence of advanced dental facilities and rising discretionary spending on dental care in countries like the US and Canada supports market growth.
Key players operating in the dental turbine market are KaVo Dental, Nakanishi inc., Foshan Gladent medical instrument Co.,Ltd, TEALTH FOSHAN MEDICAL EQUIPMENT CO., LTD, Chirana, coxo Medical Instrument Co., Ltd., Dabi Atlante, Carlo De Giorgi, Henry Schein, Inc., DENTALEZ, Inc., Aseptico Inc., Sinol Dental Limited., Guilin Woodpecker Medical Instrument Co.,Ltd., MDK Dental, Beyes, NINGBO HPDOVE DENTAL INSTRUMENTS CO., LTD., Ivoclar Vivadent Pty Ltd. Industry players compete based on portfolio diversification, product differentiation, and global expansion strategies.
For More Insights, Read: https://www.newswirestats.com/dental-turbine-market-demand-growth-and-regional-outlook-by-2030/
