by The 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 tooth replacements that are used when all teeth are lost or are missing. They come in two forms- complete dentures that replace all teeth and partial dentures that replace missing teeth. Dentures can help improve speech, eating and appearance. They are made from various materials like acrylic, nylon, or flexible gum-colored material to closely match natural gum tissues and teeth.
Market key trends:
Increasing geriatric population worldwide is expected to be a major driver for the dentures market over the forecast period. According to UN data, the world population aged over 60 is growing at a rate of around 3% per year and expected to reach 2.1 billion by 2050. Older adults are at higher risk of tooth loss caused by dental caries, periodontal disease, and other age-related oral health issues thereby fueling demand for dentures. Additionally, launch of advanced denture products, growing dental tourism industry and rising expendable income levels in developing nations are some other factors propelling market revenue growth. However, expensive dentures and preference of people for dental implants may limit adoption to some extent.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the dentures market requires high capital investment and specialized dental expertise. However, existing healthcare facilities and laboratories can enter the market with differentiation.
Bargaining power of buyers: The bargaining power of buyers is moderate as dentures are necessity but demand is price sensitive. Buyers can compare product and pricing options available from various manufacturers and laboratories.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute raw materials like acrylic, poly methyl methacrylate (PMMA), etc. Suppliers do not have pricing power over buyers.
Threat of new substitutes: The threat of new substitutes is low as dentures are the widely accepted and affordable treatment option for tooth loss compared to implants.
Competitive rivalry: High due to presence of numerous global and regional players offering customized dentures with innovative materials, technologies and services.
SWOT Analysis
Strength: Wide availability of personalized dentures and installation services. Growing popularity of aesthetically designed removable dentures.
Weakness: High cost of premium dentures and recurring maintenance cost. Risk of misalignment or fracture over long term use.
Opportunity: Emerging markets in Asia Pacific and Latin America. Growing demand for customized and invisible dentures. Technology advances in 3D printing dentures.
Threats: Stringent regulations for dental materials and devices. Threat from low cost substitutes like bridges and implants.
Key Takeaways
The global Dentures Market Growth is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing incidence of tooth loss among geriatric population. As per the World Health Organization, around 3.9 billion people globally suffer from tooth decay affecting children and adults.
Regionally, Asia Pacific dominates the dentures market and expected to grow at fastest pace owing to rapidly growing geriatric population, increasing disposable income, rising medical tourism, and improving access to dental care services in countries like China, India and South Korea. North America represents the second largest market for dentures due to growing demand for invisible aligner-like dentures and technologically advanced products.
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. Players are focusing on launching new materials like premium acrylics, enhanced polymers and teeth aesthetics to differentiate their offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
