Dental Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Dental Equipment Market was valued at about USD 8,001.9 million in 2021 and is expected to witness a revenue of USD 11,480.52 million in 2027 with a CAGR of 5.1% over the forecast period, 2022-2027.
The current COVID-19 situation has decreased the number of visits to hospitals and clinics for dental purposes, hampering the demand for dental equipment. Dentsply Sirona reported that its net sales for the first quarter of 2020 were down by 7.6%, or 4.3% in organic terms, due to low patient volumes and canceled elective procedures. In terms of revenue and net sales, this downfall trend was observed in several other companies in the market. In March 2020, the American Dental Association (ADA) recommended that dental practices postpone elective dental procedures until April 6, 2020 and provide emergency-only dental services to help keep patients from burdening hospital emergency departments. This recommendation was updated on April 1, 2020, when the ADA advised offices to remain closed to all but urgent and emergency procedures until April 30, 2020, because of the rise of COVID-19 cases. Thus, such incidents hampered the market's growth in the initial phase of the outbreak, however, the market is anticipated to gain traction over the coming years.
Furthermore, the increasing prevalence of dental infections and other periodontal diseases, growing demand for dental care facilities and dental surgical procedures, and rising dental care personnel, coupled with technological advancements, are some of the major factors propelling the growth of this market. For instance, as per a March 2022 update by the World Health Organization (WHO), it is estimated that oral diseases affect nearly 3.5 billion people worldwide, and severe periodontal (gum) disease, which may result in tooth loss, is also common, with almost 10% of the global population affected. Due to the increased prevalence of the disease, there have been various technological innovations in the market. For instance, in January 2021, Nobel Biocare launched the Xeal and TiUltra surfaces in United States. These new surfaces are applied to implants and abutments, which optimizes tissue integration at every level.
Moreover, these market players engage in inorganic and organic strategies, including expansions, product launches, acquisitions, collaborations, mergers, and partnerships, to establish a strong presence and expand their geographical reach. For instance, in August 2020, Straumann Group sold the equinox/Myriad brand of dental implant systems that had been discontinued following the successful launch of the Neodent brand in India and globally. In addition, cosmetic dentistry is one of the emerging markets that is gaining popularity due to the increasing focus on dental tourism and a rising preference for aesthetic and perfect teeth. Such trends are expected to drive the market’s growth in the near future.
Thus, owing to the aforementioned factors, the market is expected to witness lucrative growth opportunities during the forecast period. However, the increasing cost of dental surgeries and lack of access to medical reimbursement policies are expected to hinder the market's growth.
Key Market TrendsThe Prosthodontic Segment is Expected to Have a Significant Market Share Over the Forecast PeriodAs 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 prostheses 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.
Growing preference for aesthetic appearance among individuals, compelling them to go for prostheses, and technological innovations and product launches have also augmented the segment's growth. For instance, in November 2020, Planmeca launched two new CAD/CAM products, namely the Planmeca PlanMill 50 S 5-axis mill and Planmeca PlanCAD Premium design software for creating dental prosthetics.
Additionally, in January 2022, RODO Medical, a California-based dental device company, entered into a strategic partnership with Aurum Group to launch Rodo Digital Prosthetics (RDP) in United States. In addition, both companies have agreed to a limited exclusive distribution agreement in Canada. According to this, Aurum will be able to service RODO's Smileloc and Smileclip restorations for their customers from single crown to full mouth with their quality prostheses across the country.
In addition, this increase in demand for prosthodontics is fuelling the demand for dental radiology equipment such as cone beam computed tomography (CBCT) since it is considered a unique imaging option for various treatment needs of a prosthodontist. It has proved beneficial in multiple aspects of prosthodontic practice, i.e., from imaging of the temporomandibular joint to denture therapy. Major players are also coming up with novel and technologically advanced CBCTs in the market. For instance, in April 2022, Carestream Dental introduced CBCT imaging, the Neo Edition of the CS 8200 3D Family. The Neo Edition is an evolution of the CS 8200 3D and optional Scan Ceph module that improves ease of use contributes to a better clinical experience and leads to more successful outcomes for patients.
Thus, owing to the novel product launches and increasing preference for cosmetic dentistry, the prosthodontic segment of the market is expected to register a significant share.
North America Dominates the Market and is Expected to Follow the Same Trend over the Forecast PeriodNorth America accounted for a large share of the market due to factors such as the increasing prevalence of dental diseases; wide acceptance of technological advancements in dental equipment, like lasers, intra-oral cameras, digital radiography, and CAD/CAM systems; continued favorable demographic trends; and heightened consumer awareness of the importance of oral hygiene to overall health.
Additionally, the increasing number of dental visits is also propelling the growth of the market. For instance, as per the Early Release of Selected Estimates Based on Data From the 2020 National Health Interview Survey, published in August 2021, reported that in 2020 there were 63% of adults aged 18 years or over visited the dentist in United States. Such a high number of dental visits creates the need for dental equipment for check-ups and treatment and thus is expected to drive the growth of the market.
The initiatives taken by the market players to meet the increasing demand for dental equipment in the region are also propelling the growth of the market. For instance, in September 2020, Ditron Dental USA, United States affiliate of Ditron Dental, a subsidiary of Ditron Precision Ltd., officially commenced commercial operations for its dental implant portfolio as of October 1st, 2020. The product portfolio is represented by the flagship ULT Ultimate Precision Dental Implant System and the MPI Molecular Precision Implant System, both featuring a host of design innovations in addition to ultra-precise manufacturing.
Thus, owing to the abovementioned factors, the market is expected to project growth of the market.
Competitive LandscapeThe dental equipment market is moderately competitive. 3M, Carestream Health Inc., Danaher Corporation, Dentsply Sirona, and GC Corporation are some of the key players in the market. The market also enjoys the presence of a few smaller companies that hold a substantial share.
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