The global dental equipment market is highly competitive in nature with a presence of a large number of players operating in it across the globe, states a new market research study by Transparency Market Research. With the rising number of players, the global dental equipment market is projected to witness a high level of competition throughout the forecast period. Some of the leading players operating in the dental equipment market across the globe are Midmark Corporation, Ivoclar Vivadent AG, Sirona Dental Systems Inc., Straumann, Biolase Inc., Dentsply International Inc., 3M ESPE, Patterson Companies Inc., Hu- Friedy Mgf Co., Noble Biocare, Henry Schein, Inc., GC Corporation, and Danaher Corporation.
These players are focusing on research and development activities and innovations in order to cater the rising demand worldwide. The increasing mergers and acquisitions and strategic collaborations are also expected to help the leading players in expanding their horizon across the globe.
According to the research study by Transparency Market Research, in 2011, the global market for dental equipment was worth US$5.5 bn and is likely to reach a value of US$7.6 bn by the end of 2018. The market is anticipated to register a healthy 4.70% CAGR between 2012 and 2018.
Increasing Dental Disorders to Encourage Growth in North America
From a regional perspective, North America is estimated to witness high growth in the next few years and further followed by Europe. The increasing prevalence of dental caries among people in this region is one of the key factors estimated to encourage the growth of the market in the next few years. In addition, technological advancements and innovations and the increasing awareness among consumers are further projected to generate promising growth opportunities for the market players throughout the forecast period. Furthermore, Europe and Asia Pacific are predicted to register a promising growth rate in the coming years.
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Among the key products, the systems and parts segment is expected to register a rapid growth and account for a large share of the global market in the coming years. The high growth of this segment can be attributed to the expansion of the application areas of the product. In addition to this, the rising demand for advanced products to offer effective results to patients making use of innovative products are some of the other factors that are estimated to accelerate the overall growth of this segment in the coming few years. Furthermore, the dental radiology segment is projected to register a healthy growth rate throughout the forecast period.
Rising Demand for Cosmetic Dentistry to Drive Global Dental Equipment Market
The global market for dental equipment is expected to grow at a healthy rate in the next few years. Advancements in the treatment and diagnostic technologies and the rising cosmetic dentistry are some of the key factors that are estimated to accelerate the growth of the global dental equipment market in the next few years. In addition, the rising trend of dental tourism in several developing economies is predicted to enhance the overall growth of the market in the near future. The rising geriatric population is one more important factor, which is estimated to boost the demand for dental equipment in the near future.
On the other hand, the rising taxes on medical devices and the rising cost of advanced technology equipment are anticipated to curtail the growth of the overall market in the next few years. In addition, the rising refurbished dental equipment market is another key factor anticipated to restrict the market growth in the coming years. Nonetheless, the rising disposable income of consumers in several developing economies is projected to generate promising growth opportunities for market players across the globe.