Report: Dental tourism and lasers to fuel growth of dental equipment market
Market research company Transparency Market Research has reported that the global dental equipment market is expected to reach US$7.6 billion by 2018, from US$5.5 billion in 2011, growing at a compound annual rate of 4.7 percent from 2012 to 2018. Technological innovations and increasing awareness of dental hygiene are contributors to the segment’s growth, but high initial costs for dental equipment remain. The report analyzes different types of dental equipment, including dental radiology equipment, systems and parts, laboratory machines and hygiene maintenance devices.
An earlier report by business consulting firm Grand View Research forecast that the market would reach US$8.45 billion by 2020, equaling a compound annual growth rate of 8.2 percent. Both reports linked the demand for dental equipment with surging dental tourism, increasing popularity of cosmetic dental treatment, and advancements in diagnostic and treatment technologies. Systems and parts remain the largest product segment, followed by dental radiology equipment. According to both reports, dental lasers are predicted to grow at an accelerated pace owing to the increasing adoption of minimally invasive surgical procedures that remove dental decay without harming the soft and hard tissue. The growing ageing population and the baby boomers are additional factors for the rising demand for dental procedures.
North America has traditionally led the market for dental equipment, while Asia Pacific has grown at a faster rate. Increased demand for dental instruments and technologies, in combination with improving health care infrastructure, will affect this trend in the coming years. The growth in patients travelling to Asia Pacific and eastern Europe for cheaper dental surgeries and implants will also affect sales of dental equipment in these regions.
The Transparency Market Research report covers the financial figures, business strategies, product portfolios and recent developments of the major companies operating in the global dental equipment market, including Carestream Dental, GC Corporation, Henry Schein, Danaher Corporation, DENTSPLY Sirona, Planmeca, BIOLASE, Ivoclar Vivadent and A-dec.
The full report is available for purchase at www.transparencymarketresearch.com/dental-devices-market.html. The Grand View Research report can be bought at www.grandviewresearch.com/industry-analysis/dental-equipment-market.