The vendor landscape in the global dental prosthetics market demonstrates a relatively consolidated structure, states a new report by Transparency Market Research (TMR). The top three players namely, Institut Straumann AG, DENTSPLY International Inc., and Nobel Biocare Holdings AG, held 48.5% of the overall market in 2014. These players are actively involved into collaborative strategies, focusing especially towards developed economies with advanced healthcare infrastructure. The market, however, is equally captured by regional players, making the competition intense and, with the high influx of new players in the market, the scenario is likely to remain so over the next few years, states the research study.
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According to the research report, the global market for dental prosthetics, which stood at US$3.5 bn in 2016, is anticipated to expand at a CAGR of 7.60% during the period from 2015 to 2023 and reach a value of US$5.88 bn by the end of the period of the forecast.
Among the products, dental crowns have been witnessing a considerably higher demand and is anticipated to remain doing so over the next few years. Geographically, Europe has been leading the global market since the last few years. With US$2.2 bn in revenue by 2023 end, this regional market is anticipated to continue on the top in the near future, notes the market study.
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Increasing Prevalence of Severe Periodontal Diseases to Boost Demand for Dental Prosthetics
“The global dental prosthetics market is benefiting from the rising number of people going for dental care procedures due to various purposes,” states an analyst at TMR. “Several international authorities, such as the World Health Organization (WHO) and the American Academy of Implant Dentistry have reported an increase in the count of patients suffering from severe periodontal diseases, which is adding to demand for dental prosthetics, considerably,” he added.
The rising prevalence of oral cancer is another important factor, which is fueling the demand for dental prosthetics across the world. Poor dental hygiene, increasing consumption of unhealthy foods, rising geriatric population base, and the augmenting disposable income of people, collectively, will propel the global dental prosthetics market in the near future, states the research report.
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Increasing Disparity in Product Cost to Hamper Market
On the flip side, the increasing entry of new players in the worldwide market for dental prosthetics is creating a high level of disparity in the cost of dental prosthetics, as local vendors are offering these products at much lower prices than their global counterparts, which is likely to impact the market negatively in the years to come, reports the study.
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