Dental Laboratories Market Likely To Touch At .2 Billion By 2030: Grand View Research Inc.Posted by Mrudula Anil Karmarkar on March 2nd, 2023 The global dental laboratories market size is expected to reach USD 48.2 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% from 2022 to 2030. This can be attributed to increasing cosmetic dental procedures, the geriatric population, and awareness regarding oral hygiene. In addition, technological advancements are expected to fuel growth. For instance, the digitalization of dental labs and the introduction of Computer Aided Manufacturing (CAM) and Computer Aided Design (CAD) technology have improved the accuracy of dental appliances. According to World Population Aging, there were nearly 727 million people aged 65 or over in 2020, globally, and the number of aged people is anticipated to double to 1.5 billion by 2050. The high incidence rate of the elderly population is anticipated to fuel the market growth as the geriatric population is highly susceptible to dental conditions such as xerostomia coronal & root caries and periodontitis. Furthermore, the adverse dental effects due to the frequent use of prescription or OTC drugs by the elderly population are anticipated to boost the market growth. The market is highly fragmented and is anticipated to witness significant mergers & acquisitions from both large dental service organizations and private equity firms. These mergers and acquisitions are anticipated to lead to market consolidation and enable to leverage advantages of white space acquisition. For instance, in 2022, Henry Schein, Inc. acquired Midway Dental Supply. The Midway company is a dental distributor serving dental laboratories and dental offices across the U.S. This acquisition is anticipated to contribute to the company’s growth through the addition of a new product portfolio. Increasing demand for cosmetic dental procedures and the growing geriatric population are among the key factors anticipated to fuel market growth. According to World Population Aging, there were nearly 727 million people aged 65 or over in 2020, globally, and the number of aged people is anticipated to double to 1.5 billion by 2050. This is anticipated to propel the growth of the market in the coming years. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/dental-laboratory-market/request/rs1 The COVID-19 pandemic significantly impacted the economy in 2020. The repercussions of the pandemic resulted in disruptions in the supply chain of various industries. The market for dental laboratories was also adversely impacted by the pandemic. Supply chain disruptions, shelter-in-place mandates, and the closure of dental clinics severely impacted the market in 2020. According to the ADA, in March 2020, over 75% of dentists closed their offices for non-emergency cases. Moreover, research from the ADA and the American Dental Hygienists Association revealed that 3.1% of U.S. dental hygienists were suffering from COVID-19 in 2020. However, in 2021, the risk of indebtedness to dental procedures remains low and continues to decrease as the number of dental procedures returns to normal. Moreover, several government initiatives are anticipated to reduce the financial burden of dental practices Dental Laboratories Market Report Highlights
Rapid technological advancements in dental laboratories, such as the use of bone morphogenic proteins and hydroxyapatite coatings as implant materials, have resulted in reduced chair time, faster healing, and painless procedures. Similarly, the introduction of advanced imaging techniques such as Computer-aided Design (CAD) and Computer-aided Manufacturing (CAM) has facilitated the planning and handling of complicated procedures as well as 3D imaging of dental implants, crowns, and bridges, leading to better patient diagnosis. Periodontal disease and dental caries are the most prevalent oral diseases across the globe. More than half of the global population suffers from periodontal diseases and dental caries. Governments of various countries and organizations, such as WHO, are undertaking initiatives to improve oral health across the globe. For instance, in 2022, oral health was included in the political declaration on universal health coverage. Member states of the UN, with the support of the WHO, developed strategies to improve oral health in Africa, East Mediterranean, Southeast Asia, and Western Pacific regions. List of Key Players of Dental Laboratories Market
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