by The dental market consists of a wide range of dental products including dental implants, orthodontic braces, dental bridges, dental membranes and others which are used for various dental procedures such as tooth restoration, dental prosthetics, tooth extractions and more. Dental procedures aim to treat and prevent dental diseases and improve the aesthetic appearance and functionality of teeth and gums.
The global dental market is estimated to be valued at US$ 36609.25 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Rising demand for dental aesthetic procedures is one of the major trends driving the growth of the global dental market. With growing dental tourism and the increasing focus of people on physical appearance, dental aesthetic procedures have gained immense popularity over the years. Procedures such as whitening, veneers, bonding and crowns are increasingly being adopted to enhance smiles. Moreover, the availability of innovative solutions by market players catering to different aesthetic needs of patients has further boosted the demand. Advanced techniques and materials are also enabling dentists to achieve natural and long-lasting dental aesthetic results, thereby fueling the adoption of various aesthetic procedures worldwide.
SWOT Analysis
Strength: Dental has an established distribution network and brand presence globally. Dental products have high repeat purchase rate as dental care is an essential need.
Weakness: High operative costs associated with research and development of new dental technologies. Smaller players have limited resources for investment in innovation.
Opportunity: Growing focus on preventive dental care and aesthetic dentistry is driving demand for innovative dental products. Rise of medical tourism in emerging markets provides new opportunities.
Threats: Stringent regulatory approvals pose entry barriers for new players. Threat from cheaper generics and regional unorganized players impacting profits of major brands.
Key Takeaways
The global Dental Market Demand is expected to witness high growth in the coming years due to increasing awareness about oral hygiene. The global dental market is estimated to be valued at US$ 36609.25 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
North America currently dominates the market owing to availability of advanced dental technologies and high healthcare spending. However, Asia Pacific is emerging as the fastest growing regional market due to rising income levels, expanding medical tourism industry and growing penetration of private dental insurance.
Key players operating in the dental market include C, D, E and F. The market is witnessing new product launches catering to changing consumer preferences for aesthetic and preventive dental care. Major companies are investing in digital technologies like CAD/CAM for manufacturing dental prosthetics and clear aligners for orthodontic treatments. Partnerships with dental schools and associations is a key strategy being adopted to promote brand awareness among dentists.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
