The Global Dental Equipment Market was valued at US$ 6,342.3 million in 2015 and is expected to expand at a CAGR of 4.7% during the forecast period (2016 – 2024).
Practice of dentists has shifted from being focused on disease treatment to preventive measures. This change in market dynamics is acting as a catalyst for development of new technologies for diagnosis and treatment of dental issues Growing awareness about dental care among consumers has translated into rising number of routine-check-ups and growing spending on maintaining oral health. This is in turn spurring demand for dental care equipment, including dental lasers, imaging systems, and computer-aided design and computer-aided manufacturing (CAD/CAM) systems.
Dental equipment finds extensive application in diagnosis and treatment of dental disorders such as dental cavities, gingival disease, and periodontal (gum) disease. Advent of 3D printing in dental industry creates a highly favorable environment conducive for market growth and helps dentists provide better services through use of highly efficient diagnostic and treatment tools. Moreover, growing public awareness about dental treatment options, coupled with increasing expenditure on dental care is driving patients to opt for preventive measures. According to a study published in the American Dental Association’s research paper of 2014, around 52.3% of adults in the U.S. visited a dentist every six months. Focus on enhancing patient’s experience through high-quality treatment outcomes is driving demand for dental equipment worldwide.
Development of CAD/CAM & 3D printing is expected to drive dental equipment market growth
Incision during surgeries can be carried out precisely by using laser and electro surgery techniques. This will reduce the damage caused to tissues and will aid in faster healing. The time taken for prosthodontic restoration procedures has reduced to one day due to the development of CAD/CAM. By replacing conventional radiology equipment with digital radiology equipment equipped with picture archiving and communication systems (PACS), treatment records can be archived. Moreover, outcomes of dental treatments have improved due to 3D printing technology. When compared to the conventional CT systems, cone beam CT systems provides clear extra oral images and exposure to harmful X-rays will be minimal.
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High treatment costs in developed economies fueling influx of dental tourists in emerging economies
According to the New National Survey published in the American Dental Association in 2014, 40.2% of adults in the U.S. indicated that they would forego dental care due to high costs associated with it. According to 2016 statistics of the Oral Health Foundation, 88% of adults in the U.K.do not have dental insurance and around 63% of adults prefer visiting National Health Service (NHS) dentists rather than private dentists due to high costs associated with the later. High dental cost involved in cosmetic dentistry dental caries, periodontal disease treatment and overall dental care in developed economies is fueling growth of dental tourism in emerging regions such as Asia, Latin America, and Eastern Europe. Rapid development of dental tourism hubs such as India and Brazil would spur growth of the dental equipment market in emerging regions.