LOS ANGELES, June 29, 2019 (GLOBE NEWSWIRE) -- The global dental laboratories market is estimated to grow at CAGR above 6% over the forecast time frame 2019 to 2026 and reach the market value around USD 43.8 billion by 2026.
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The growth is anticipated to fuel increased demand for cosmetic dental treatments and an increase in the geriatric population. According to a United Nations report, almost 13% of the world's inhabitants were seniors in 2017, with an expected annual growth of 3%. In the following years, this factor is expected to boost market growth. Elderly people with poor cognitive health are therefore facing difficulties managing the market demand of dental laboratory diseases, medications, or other self-care, like dental hygiene. For example, in 2018, almost 5.7 million Americans lived with Alzheimer's disease according to the Alzheimer's Association, with almost 81 percent belonging to the age group 75, and higher.
The technological advancements in the dental laboratory have led, for example, to reduced chair time, faster cures and painless operation, such as using bone morphogenic proteins and hydroxyapatite coatings as implant material. In addition, the implementation of sophisticated imagery technology such as CAD and CAM facilitated the design and management of complex processes, and 3D Imaging dental implants, crowns and bridges, resulting in a better diagnosis for the patient.
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In addition, the need for aesthetic appeal in dentistry throughout the world has been created by the increasing number of celebrities and social media influencers showing their perfect smiles on social media platforms. For example, 99.7% of people think their smile to be essential for society, and about 84% of people accept enhancement pressures to perfect their smile, increasing the amount of celebrities and adult people seeking orthodontic therapy. For example, according to the American Academy of Cosmetic Dentistry this high demand has led to the development of a variety of techniques and procedures that address patients' specific needs and thus drive market growth.
Because of the presence of sophisticated medical infrastructure, North America had the largest share of the revenue market, supporting government initiatives and relatively high levels of health expenses in the region in 2018. The Health and Human Services Department seeks to improve main dentists' abilities and expertise, and encourages cross-professional cooperation between experts in the healthcare system.
The projection period for Asia Pacific is projected to see profitable development. The development is expected to boost the progressive economy, big numbers of the elderly, increased disposable revenues and oral health consciousness. Furthermore, the region's development opportunities over the forecasting year are expected to generate bigger untapped possibilities and quickly better health infrastructure.
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In parallel with the dental health market, the dental laboratories are growing. One of the main drivers of the laboratory industry is the increase in the amount of dental health centres, hospitals and endodontists. In addition, the development of the worldwide industry is driven by an increasing amount of maxillofacial and oral surgeons, periodontics, orthodontists and pro-sodium dentists. The demand for dental laboratories is being promoted around the globe for dental products such as bridges, crowns, teeth, etc., which are produced at dental laboratories.
Key Players & Strategies
The Dental Laboratories market consists of key vendors such as Dentsply Sirona Inc.; Lord’s Dental Studio; Champlain Dental Laboratory; National Dentex Corp; Straumann; Henry Schein Inc.; Danaher Corporation; and Modern Dental Laboratory.
Fusions and procurement is one of the market players' key sustainable strategies. Sirona Dental Systems Inc. and Dentsply International Inc. merged into Dentsply Sirona Inc. in 2016, for example. Sirona's technology and technology expertise with its consumer portfolio was integrated with this merger.
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