Valuation of Dental Caries and Endodontic Market by 2027 is US$ 40,000 Mn
Posted by Pradnya Kulkarni on July 12th, 2017
World-class medical infrastructure in North America a key growth driver
The substantial developments in North America stand in stark contrast to the relatively modest improvements observed in the global dental caries and endodontic market. This is mainly due to the growth of high-margin dental products such as dental bridges, caps, and implants. There is a noticeable trend seen in North America where patients demand premium quality, high-priced dental products because of Medicare improvements and strong customer loyalty. CAD/CAM technology has begun to be deployed in dental implants and dentures across the world and this should enhance the manufacturing accuracy and boost output. In addition to this, a greater number of dentists in a country who are skilled in implant placement will help improve the access to treatment. Implant penetration is anticipated to be one of the biggest drivers for long-term growth in the dental caries and endodontic market.
Changing customer approach to dental care a major restraint
Patient choice in terms of dental care could not be more complicated than in the 21st century. The factors that impact patient decisions include rapidly evolving dental care technology that can be linked to constant changes in dental care methods and the size of the dental care market. In the largely saturated U.S. and Canada markets, a consumer gathers data based on satisfaction related attributes such as a shorter duration treatment, painless treatment, affordability, and quick recovery time. A few of the other important factors are the explicit ban on advertising dental products because of which patients need to actively seek out the best options in the dental caries and endodontic market. Market signals transmitted by manufacturers can also impact a consumer’s buying decision. Moreover, several low priced products have entered the North America dental prosthetics market such as implants, dentures, crowns, etc., which has somewhat reduced the competitive advantage that premium players once enjoyed in the North America dental caries and endodontic market.
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North America is the largest region in the global dental caries and endodontic market
The North America dental caries and endodontic market is predicted to grow to almost US$ 17.3 Bn in 2027 from a value of approximately US$ 8.6 Bn in 2017, representing a CAGR of 7.2% during the forecast period. For the previous four years i.e. from 2012 to 2016, the CAGR was comparatively lower at 5.7%. An absolute dollar opportunity of more than half a billion dollars exists in the North America dental caries and endodontic market in 2018 over the previous year and an incremental dollar opportunity of just under US$ 8.7 Bn is waiting to be tapped in the decade from 2017 to 2027.
The U.S has a lion’s share of the North America dental caries and endodontic market
Within North America, the U.S. is the regional behemoth as it is expected to account for about 89% of the North America dental caries and endodontic market in 2017. By the end of the forecast period, the U.S. should be more than 90% by market value share on account of a substantial increase of 157 BPS. From a value of a little under US$ 7.7 Bn in 2017, the U.S. dental caries and endodontic market should be worth nearly US$ 15.7 Bn by the end of 2027, with a CAGR of 7.4% for the decade. The U.S. gains are largely expected to be at the expense of its northern neighbour Canada because of rising treatment cost and an increasing preference for dental treatment procedures.
Dental Caries and Endodontic Market Press Release: http://www.futuremarketinsights.com/press-release/dental-caries-market
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About the AuthorPradnya Kulkarni
Joined: December 22nd, 2016
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