Global dental equipment market to grow by 4.5% annually
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- Published: Wednesday, 19 June 2019 07:39
- Written by News Editor
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ReportLinker has announced that the global dental equipment market size is expected to reach US$ 10.47 billion by 2025, expanding annually at 4.5%. Key factors attributed to the growth include increasing demand for dental procedures owing to prevalence of dental disorders and rising awareness and demand for preventive, restorative, and surgical services for dental care.
Favourable government initiatives regarding dental hygiene is also a significant factor responsible for driving the market. Due to increasing number of initiatives, there is an increase in awareness regarding dental hygiene leading to increasing adoption of dental treatments, which in turn is anticipated to drive the market for dental equipment over the forecast period.
Dental equipment are classified on the basis of product into dental radiology, dental lasers, systems and parts, laboratory machines, hygiene equipment, and others. The systems and parts segment held the leading market share of 39.9% in 2018 and is anticipated to grow at a lucrative pace over the forecast period. The segment is further classified into instrument delivery systems, vacuums and compressors cone beam CT systems, cast machines, furnace and ovens, CAD/CAM, and electrosurgical equipment. The CAD/CAM sub-segment led in 2018 owing to the technological superiority of these equipment over traditional die casting techniques.
North America led with a market share of 29.6% in 2018. Some of the key reasons attributed to the high share include technological advancements, rising demand for dental surgeries, growing geriatric population, and increasing number of dentists and dental clinics. On the other hand, Asia Pacific is expected to expand at the fastest CAGR of 4.9% over the forecast period. Constantly developing healthcare infrastructure and increasing healthcare expenditure coupled with the presence of high unmet medical needs are expected to serve this market as high-impact rendering drivers.
Further key findings from the report suggest:
• Systems and parts product segment led the market in 2018 and is anticipated to grow at a lucrative rate over the forecast period
• CAD/CAM sub-segment of systems and parts accounted for the largest market share in terms of revenue in 2018, owing to technological advancements
• North America led the dental equipment market in 2018 with a revenue share of USD 1.84 billion owing to the presence of advanced healthcare facilities and strong reimbursement scenarios
• Some of the key players operating in the market are, Cook Medical; Smiths Medical; Edwards Life Sciences Corporation; Medtronic Inc.; and Johnson & Johnson.
Read the full report: https://www.reportlinker.com/p05778941/?utm_source=PRN
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