Dental Implants Market Industry Landscape And Acknowledgement

Dental implants are witnessing steady growth in demand, owing to rise in geriatric population and higher inclination of the populace towards maintaining aesthetic looks. Post the invention of dental implants in1954, the dental implants market revenue has grown manifold and is still highly lucrative for market players. Demand for dental implants is steadily increasing as the procedure offers a perfect solution for artificial teeth surgically imbibed in upper and lower jawbone.

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Cosmetic and dental issues arise as a result of aging. According to National Institute of Dental and Craniofacial Research, geriatric population (aged 65 years and above) have an average of 18.9 remaining teeth, in turn creating a highly lucrative market for dental implants. Technological advancements coupled with high demand for dental implant procedure has resulted in a highly lucrative market characterized by high profit margin for players across the value chain. Advancements in technology allow for implants in people without a proper structured or weak jawbone. In 2015, dental implants accounted for over 15% share of global dental device market revenue.

Dental implants market witnessed a very sluggish growth in terms of innovation post-1957. However, post 2000, many new companies emerged in the market leading to fierce competition among players in a highly fragmented industry. As a result, companies are emphasizing on product innovation to sustain and expand their global market presence. For instance, in 2016, Israel–based Magdent launched a miniature electronic device (MED) capable of accelerating bone growth three times faster than normal. The product is yet to receive approval from the U.S. FDA.

The global dental implants market revenue was valued at US$ 3,619.0 million in 2016 and is expected to expand at a CAGR of 6.3% during 2016 – 2024.

Market Dynamics

With changing market dynamics, companies are emphasizing on product innovation and strengthening of distribution channel to sustain and expand their business reach worldwide. Various macroeconomic factors such as increased geriatric population, growing focus on aesthetics, rise in out-of-pocket spending, and establishment of quality healthcare institutions are expected to bolster sales of dental implant devices worldwide. On an average, over 20% of population in EU is aged over 65 years. Moreover, EU spends nearly 9% of its GDP on healthcare. Increasing consolidation, technological advancement, and company laying emphasis on strengthening distribution channels are some of the key dental implants market trends.

Titanium dental implants segment accounted for the largest revenue in the dental implants market

Among product type, titanium dental implants segment is expected to hold dominant position in the dental implants market over the forecast period. The segment accounted for 44.7% of global market revenue in 2015. However, zirconia dental implants segment is expected to hold dominant position in the market by 2024. Key players are launching mini-titanium dental implants solutions, which are compatible with biologically active drugs that are usually incorporated on the surface of implant to improve osseointegration. The consumers mostly prefer titanium dental implants, as it has longer lifespan.

Zirconia, a corrosion free metal, is one of the newly introduced concepts in dental implants market and the zirconia dental implants segment is expected to register highest CAGR over the forecast period.

Highly competitive Europe market to maintain its dominance throughout the forecast period

Europe is expected to dominate the market throughout the forecast period. The region is expected to account for 30.8% of overall market share by 2024. Competition in dental implants market has increased primarily between Straumann and DENTSPLY Implants.

According to Europa, over 25% of the population in Europe is expected to fall under geriatric age group by 2020. This coupled with high discretionary income in the region is expected to continue to position the region as a highly lucrative market for dental implants. Germany is one of the key markets for dental implants. The country spends highest per capita income on teeth than any other country in Europe.

Asia Pacific, followed by Latin America is expected to register fastest CAGR between 2016 and 2024. Asia Pacific market growth is primarily driven by increasing number of dental implants procedure in China, India, and Japan. India dental implants market is expected to register highest regional CAGR over the forecast period. There are over 5,000 dental laboratories with around 300 dental institutes and 200,000 dentists in India.

Increasing growing consumer base along with better economic growth is expected to create lucrative market opportunity for industry players. In 2015, India imported over 77% of dental implant products from Germany, U.S., Japan, and Italy. The ‘Make in India’ campaign initiated by the Indian government is expected to bolster number of manufacturing facilities across various healthcare verticals including dental manufacturing sites in the country.

Emerging economies to present highly lucrative growth avenues

Dental implant players are focused towards strengthening of direct distribution channel along with partnership with regional manufacturers and distributors. DENTSPLY Implants, Straumann AG, Bicon Dental Implants, Anthogyr, KYOCERA Medical Corporation, Lifecore Dental Implants, Zest Anchors, Implant Innovations Inc, and BioHorizons IPH, Inc.,

Neobiotech USA. Inc., Sweden & Martina, TBR Implants Group, Global D, and MOZO-GRAU, S.A. are some of the key industry players in dental implants market. Straumann AG and DENTSPLY Implants are leading players in Europe. However, there is a wide variation in Europe market, since there is high presence of regional players in Europe. For instance, while TBR Implants Group is a leading France-based dental implants manufacturer, Sweden & Martina holds significant market share in Italy. Nobel Biocare holds significant market share in Asia Pacific, with the company generating around 17% of its regional revenue from Japan.

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