Chile Dental Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Chile Dental Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Chile Dental Devices Market is expected to witness a CAGR of 4.6% during the forecast period (2022 - 2027).

The COVID-19 pandemic has posed serious challenges to healthcare systems and has largely been controlled by drastically cutting down in- and outpatient services for dental diseases and implementing infection prevention and control measures. The lockdown in the country has affected the supply chain of dental devices and equipment. The pandemic has significantly impacted the growth of the dental devices market in the country. For instance, according to an article published by the Frontiers in Oral Health, in June 2021, titled ‘Impact of COVID-19 Pandemic on Quality of Life of Type II Diabetes Patients With Periodontitis’, in Chile and many other nations, the COVID-19 pandemic's confinement has rendered dental procedures unfeasible, even those for diabetic patients with periodontitis. Thus, the declining dental procedures have impacted the market growth during the pandemic. Additionally, as per a study published by the International Journal of OdontoStomatology, in July 2021, titled ‘Dental Care During the COVID-19 State of Emergency at the Community Hospital of Achao, Chile: An Observational Study, the pandemic has led to a significant restructuring of dental care in Chile. In addition, it has been observed that elective care was suspended and limited to outpatient dental emergencies, critical patients, and procedures that cannot be delayed, and preventive measures were taken before, during, and after dental treatment. Hence, COVID-19 has a significant impact on market growth. However, with the releasing COVID-19 restriction and resuming dental services the demand for dental treatment is expected to increase which is further anticipated to propel the demand for dental devices. This is expected to increase the market growth over the forecast period.

Certain factors that are propelling the market growth are the increasing burden of oral diseases and the aging population and rising technological advancements like the use of CAD/CAM for teeth design.

The increasing prevalence of oral diseases such as dental caries and other oral health problems is expected to increase market growth. For instance, according to an article published by the Community Dentistry and Oral Epidemiology, in December 2020, titled ‘Changes in oral health inequalities in adults in Chile, it has been observed that the adult population in Chile has a high prevalence of dental caries and non-functional dentition. This is expected to increase the demand for root canal procedures and implantation of crowns, which further increases the demand for dental devices, thereby fueling market growth.

In addition, the surging geriatric population is also contributing to the market growth. For instance, according to the 2022 statistics published by the United Nations Population Fund, in Chile, a large proportion of the living population is aged 15-64 and accounts for 68% in 2022. In addition, as per the same source, 13% of the population is aged 65 years and above in 2022. Thus, the rising geriatric population in the country is expected to increase the demand for dental treatment as they are more vulnerable to age-related dental conditions such as root or coronal caries, and periodontitis, which is expected to increase the demand for advanced devices to detect the dental problems, thereby propelling the market growth.

However, the lack of proper reimbursement policies and lack of awareness in the country is likely to hinder market growth over the forecast period.

Key Market TrendsProsthodontics Segment Expects to Register a High CAGR in the Chile Dental Devices Market Over the Forecast Period

The prosthodontics segment is expected to witness significant growth in the Chiledental devices market over the forecast period owing to the higher adoption of prosthetics and the presence of a well-established healthcare system.

As prosthodontic dentistry has a wide range of tools used for dental corrections, there is a huge application of prosthodontic equipment. There is an increasing demand for dental prosthesis across developing and developed nations due to the rising number of elderly people. However, due to the COVID-19 pandemic, elective and prosthetic dental surgical procedures have been significantly impacted, with all specialties writing various guidelines on managing this crisis. Regulatory bodies have had to triage the urgency of their daily surgical procedures and consider non-surgical management options wherever possible, avoiding all non-emergent practices. However, once the pandemic subsides, the market segment is anticipated to boost to its pre-pandemic levels.

In addition, Chile has a mixed healthcare system, with health coverage provided either by the state-funded National Health Fund which covers 78% of the population, and private health insurance institutions which cover 17–18% of the population or by the Armed Forces insurance, which covers 3–4% of the population. The Fondo Nacional de Salud (FONASA) insured population receives free access to low complexity conservative dental care at primary care health centers, including fluoride varnish application and dental prophylaxis, sealants, direct composite, and glass-ionomer cement restoration. Also, depending on the income level and waiting list, more complex conservative treatments (endodontic and periodontal treatments, as well as dental crowns) are available with a co-payment. The plans for dental health care coverage in the ISAPRE insured population vary substantially, with private health facilities receiving the majority of the attention. This is expected to increase the company's activities in developing advanced devices and adopting advanced technologies such as CAD/CAM in designing teeth, thereby propelling market growth.

Therefore, the due to aforementioned factors the studied market is expected to increase over the forecast period.

Competitive Landscape

The new product developments and strategic collaborations are the key strategies adopted by the key players to gain a competitive edge. The key players in the market, with strong financials, product portfolios, and regional presence, are expected to grow exponentially. There is the presence of a large number of players that accelerates the growth of the Chilean dental devices market. Thus, the Chile Dental Devices market is consolidated in nature. Some of the key players in the market are Planmeca Oy, Danaher Corporation, Carestream Health Inc., Dentsply Sirona and Straumann Holding AG.

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• The market estimate (ME) sheet in Excel format
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