The Global Dental Equipment Market was valued at US$ 6,342.3 million in 2015 and is projected to expand at a CAGR of 4.7% during 2016–2024, according to a new report published by Coherent Market Insights.Increasing prevalence of poor oral health is increasing patient visits to dental clinics and in turn, is increasing demand for dental equipment.
Changing eating habits has led to increase in dental caries and infection among children and adults alike. High treatment costs and lack of insurance coverage dissuades a majority of the population from visiting a dentist even in developed economies such as the U.S. and U.K. However, the Medicaid is working towards increasing dental insurance coverage across the U.S. through its regional expansion plans. Besides, advent of advanced technological dental equipment such as CAD/CAM, cone beam CT systems and 3D printed dental equipment helps improve therapy outcomes and provide minimal treatment pain, which in turn enhances the patient’s experience.
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Increasing adoption of advanced treatment options and equipment by healthcare sector is a major factor fueling growth of the global dental industry. 3D printing is emerging technology, which has various dental applications. Key players involved in manufacturing of dental equipment are focused on diversifying their product portfolio related to 3D products in order to retain leading position in market. For instance, in March 2016, Planmeca Oy launched Creo 3D printer for dental professionals, which allows the dentist to custom-print dental implants, splints, surgical guides, temporary fillings, and other medical models. Furthermore, in November 2016, Planmeca Oy launched a number of new dental consoles—Evolution 12 O’Clock, Evolution Central Island Console, and Evolution Side Console.
Dentsply International and Sirona Dental Systems merged in February 2016, to form Dentsply Sirona, Inc.—the largest manufacturer of dental equipment and technologies. Post-merger, the company acquired MIS Implants Technologies Ltd.—an Israel-based dental implant systems manufacturer—in June 2016 for US$ 375 million. This acquisition would help Dentsply Sirona, Inc. increase growing demand for dental implants, especially in the MEA region. Other leading market players such as Planmeca Oy are also expanding inorganically. Planmeca Oy expanded its product portfolio through the inclusion of CAD/CAM Restorative System developed by E4D Technologies, LLC, following the acquisition of the latter in December 2013. Through this acquisition, the Planmeca Oy obtained a competitive edge in providing integrated digital dental solutions to dentists and dental laboratories. Consistent introduction of new devices and equipment would enable existing and new dental clinics and laboratories offer improved treatment solutions to their patients.
Furthermore, increasing insurance coverage is expected to increase adoption of dental equipment and imaging devices. According to the American Dental Association, 29 states in the U.S. extended dental Medicaid benefits to population in their respective states (as of March 2015). Demand for Medicaid dental services is increasing with expanding coverage of Medicaid dental services across different states in the U.S. According to the statistics of National Health Smile organization, around 88% of the U.K. adult population in 2016, did not have dental insurance.
Key takeaways of the dental equipment market:
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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