The
Global Dental Equipment Market was valued at US$ 6,342.3 million in 2015 and is
projected to expand at a CAGR of 4.7% during 2016–2024, according to a new
report published by Coherent Market Insights. Increasing prevalence of poor
oral health is increasing patient visits to dental clinics and in turn, is increasing
demand for dental equipment. Changing eating habits has led to increase in
dental caries and infection among children and adults alike. High treatment
costs and lack of insurance coverage dissuades a majority of the population
from visiting a dentist even in developed economies such as the U.S. and U.K.
However, the Medicaid is working towards increasing dental insurance coverage
across the U.S. through its regional expansion plans. Besides, advent of
advanced technological dental equipment such as CAD/CAM, cone beam CT systems
and 3D printed dental equipment helps improve therapy outcomes and provide
minimal treatment pain, which in turn enhances the patient’s experience.
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Launch
and adoption of new treatment technologies and equipment is a vital factor
fueling growth of the global dental industry. 3D printing is one such
technology which is playing a role of a key game changer in various dental
applications. Due to this, companies manufacturing dental equipment are
expanding their product portfolio related to 3D products in order to sustain
their market share. For instance, Planmeca Oy launched Creo 3D printer for
dental professionals in March 2016. This Digital Light Processing (DLP) 3D
printer allows the dentist to custom-print dental implants, splints, surgical
guides, temporary fillings, and other medical models. Planmeca Oy also launched
a number of new dental consoles—Evolution 12 O’Clock (pictured), Evolution
Central Island Console, and Evolution Side Console in November 2016. These
consoles have an added advantage of supporting forward integrated with future
technologies.
The
market is witnessing a trend of consolidation. Dentsply International and
Sirona Dental Systems merged in February 2016 to form Dentsply Sirona, Inc.—the
largest manufacturer of dental equipment and technologies. Post-merger, the
company acquired MIS Implants Technologies Ltd.—an Israel-based dental implant
systems manufacturer—in June 2016 for US$ 375 million. This acquisition would
help Dentsply Sirona, Inc. increase growing demand for dental implants, especially
in the MEA region. Other leading market players such as Planmeca Oy are also
expanding inorganically. Planmeca Oy expanded its product portfolio through the
inclusion of CAD/CAM Restorative System developed by E4D Technologies, LLC,
following the acquisition of the latter in December 2013. Through this
acquisition, the Planmeca Oy obtained a competitive edge in providing
integrated digital dental solutions to dentists and dental laboratories.
Consistent introduction of new devices and equipment would enable existing and
new dental clinics and laboratories offer improved treatment solutions to their
patients.
Increasing
insurance coverage is further analyzed to boost market growth for dental
equipment and imaging devices. According to the American Dental Association, 29
states in the U.S. extended dental Medicaid benefits to population in their
respective states (as of March 2015). Demand for Medicaid dental services is
increasing with expanding coverage of Medicaid dental services across different
states in the U.S. According to the statistics of National Health Smile
organization, approximately 88% of the U.K. adult population in 2016 did not
have dental insurance.
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Key takeaways of the market:
·
The global dental equipment market is expected
to expand at a CAGR of 4.7% during the forecast period due to increasing dental
insurance and dental tourism in emerging economies in Asia and Latin America
·
In terms of equipment, dental system and parts
segment holds the largest market share and is expected to reach a value of US$
2,363.3 million in 2017. Increasing demand for dental equipment accessories and
parts is fueling growth of the segment.
·
Adoption of dental equipment in dental clinics
is expected to increase rapidly, with growing number of dental clinics across
the globe
·
Although, North America led the global dental
equipment market in 2015 (in terms of revenue), Asia Pacific is projected to be
the fastest growing market for dental equipment expanding at a CAGR of 5.6%
during the forecast period. Factors contributing to rapid growth rate include
increasing medical tourism for dental care and growing distribution network of
dental equipment manufacturers in this region.
·
The global dental equipment market is
experiencing consolidation, with leading players such as Dentsply Sirona, Inc.
and Planmeca Oy cannibalizing each other’s shares in this industry
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