Global Dental Implants and Prosthetic Market Research and Analysis, 2015-2022
Posted: Jul 13, 2018
The dental implants and prosthetic market is expected to witness an impressive growth rate during the projected period 2015-2022. According to analysts’ estimate the dental implants and prosthetics market is anticipated to grow remarkably with a CAGR of 7.2% during 2016-2022. The key factors contributing in the growth of Dental Implants and Prosthetic Market includes increasing incidences of dental caries as well as other periodontal diseases. According to CDC (Centers for Disease Control and Prevention), in the U.S. about 90% of the people of age group 20 and above have had cavities at some of their lifetime. As per American Academy of Implant Dentistry, in the U.S. around 3 million individuals have dental implants and this figure is growing by 500,000 a year. Furthermore, growing geriatric population has also attributed towards the growth of the dental implants and prosthetic market.
According to World Health Organization, the number of people of age group 65 and above is expected to reach 1.5 billion by 2050 from 524 million in 2010, with major growth in developing nations. However, in case of geriatric population, the edentulous population ratio is 2:1 which creates a potential for the growth of the dental implants and prosthetics market within the age group 60 and above. The growth of 3D printing in dental implants are also boosting the market growth and expected to deliver better results in next few years.
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Advancements in dental technologies and increasing demand for cosmetic dentistry are likely to act as a high impact rendering drivers for the global dental implants and prosthetics market. The introduction of CAD/CAM technology has considerably reduced the dental treatment time. However, high cost of dental implants is hampering the growth of the market. In the U.S., the cost of dental implants is around $4000 which can vary depending on the hospital. Such high costs act as a restraint in the growth of the dental implants and prosthetics market as they are beyond the spending capacity of an average earning individual.
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The global dental implants and prosthetics market can be geographically bifurcated into North America, Asia Pacific, Europe and RoW. In 2015, Europe accounts for the largest market share in the global dental implants and prosthetics market owing to the presence of key market players within the region followed by North America. The pivot factors contributing towards the growth of the regional dental implants and prosthetics market includes increasing geriatric population base, high reimbursement rate and increasing disposable income. According to European Commission, the share of population aged 65 and above is anticipated to rise from 17% to 30% by 2060. Moreover, Europe is considered as a cost-effective region for dental tourism, hence is anticipated to act as a high motivating growth factor. Increase in healthcare expenditure is also expected to act as an additional factor towards the growth of the European Dental implants and prosthetics market.
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