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Description
The dental consumables market valued at USD 28,752.4 Million in 2021, and it is expected to grow at a significant CAGR of 4.1% over 2022-2028. The increased frequency of dental illnesses, expanding demand for cosmetic dentistry, growing dental tourism in emerging markets, and rising disposable income in developing countries are all factors driving growth in the dental consumables market. The high cost of dental procedures and restricted reimbursements are projected to limit the market’s expansion. One of the most profitable sectors of the medical tourism industry is dental tourism. This market’s growth is largely fueled by price. Every year, a substantial number of dental tourists visit these nations because of the dental vacation packages they offer. Dental care demand is predicted to rise worldwide, owing to changing demographics, more dental care awareness, and the rising prevalence of dental illnesses. Dental tourism is one of the most profitable parts of the medical tourism industry. The expansion of emerging markets is primarily due to lower dental operation prices compared to developed countries and infrastructure advancements in these countries. Dental tourism has various advantages, including reduced expenses and shorter wait times. Price is a significant factor in the growth of the dental consumables industry. In 2021, the retail dental care essentials segment held the biggest market share, and this scenario is probably to continue during the forecast period. Increased oral health awareness, an increase in the frequency of dental caries and other periodontal disorders, and the number of awareness initiatives launched by key players and the government all contribute to the market’s growth.
Recent Market Developments:
In December 2021, the Straumann Holding AG signed an agreement to acquire a controlling stake in Nihon Implant, a leading dental implant treatment concierge in Japan. The acquisition supports the Group’s strategic priority to build a consumer presence and helps expand access to healthcare consumers.
In November 2020, Young Innovations, a leading global supplier of dental products, announced the acquisition of Preat Corporation. Based in Santa Maria, CA, Preat is a leading provider of dental implant components, attachments, and tools.
