Asia Pacific Dental Consumables Market to Account for 23% Share by 2025, as Dental Tourism Gains Momentum, finds Fact.MR
Published : 18 Dec 2019 Industry: Healthcare
Dental tourism in India and China is changing the course of the global dental consumables market, as expensive dental care in developed regions such as North America and Europe is increasing market penetration in Asia Pacific. Also, internal growth contributors, such as increasing proclivity of individuals for carbohydrate- and sugar-rich food and beverages is expanding the patient pool for dental care, which is indirectly favouring the adoption of dental consumables in Asia Pacific.
As per an exclusive study by Fact.MR, a rapid rise in opportunities in Asia Pacific in tandem with cost-effective manufacturing abilities of players is projected to stimulate the expansion of the regional dental consumables market at a CAGR of around 7% during the forecast period (2020-2025).
Key Highlights of Dental Consumables Market Study
- Crowns and bridges are projected to account for one-third of the total revenue share in the dental consumables market, as the millennial cohort shows high interest in aesthetic dentistry to improve their personality.
- Accuracy and versatility would set laser therapy apart from existing dentistry procedures, as patients seek painless dental procedures, thereby impeding sales prospects for the dental consumables market during the forecast period.
- Manufacturers are continuously extending the frontiers of product development to introduce novel materials that offer permanent restoration of dental models. Titanium holds high prominence as a material for the development of dental models.
- Lack of skilled operators for orthodontics, endodontics, and periodontics is likely to retain the popularity of conventional dental procedures, thereby preventing the dental consumables market from reaching its true value potential. Influence of this trend would be high in developing countries that have relatively low scope of technological advancements.
A key opinion leader at Fact.MR opines,
“In developing countries such as India and China, the dentist-to-population ratio is 1:15,000, which is significantly lower than that in the U.S. (1:2,000). However, as central authorities strive to bring dental facilities closer to patients, there would be progressive rise in dental care centres, which would inadvertently augment the adoption of dental consumables in these regions.”
Market Players Emphasising on Brand Recognition to Achieve High Retention Rate
High brand value of leading players in the dental consumables market is creating sales through brand recognition. On the demand-side, dentists are loyal to particular brands, which makes it difficult for new market entrants to establish their brands. Also, high investments made towards the development of quality products are giving leading players an edge over regional and local players through the differentiation strategy. For instance, Danaher Corporation has a dedicated R&D facility aimed at delivering sophisticated products, and to foster innovation, the company increases its R&D investments. The company’s R&D budget allocation grew by around 5% in 2019, over 2018.
Manufacturers operating in the dental consumables market, instead of approaching product innovation from the grassroots, are reimagining differentiation through combination of existing products to leverage significant cost benefits. Efforts are being made towards the development of crowns and bridges by fusing materials such as porcelain and ceramic to metals and metal alloys to improve the strength of consumables. Such cost-effective manufacturing strategies are being majorly adopted by Chinese players, which creates stiff competition for global players.
Find More Valuable Insights on Dental Consumables Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global dental consumables market, presenting historical demand data (2015-2019), and forecast statistics for the period of 2020-2025. The study divulges compelling insights on the dental consumables market on the basis of product (crowns & bridges, dental implants, retail dental care essentials, orthodontics, periodontics, endodontics, dental biomaterials, and others), across five major regions.
>>> To Get more information on dental consumables market, visit- https://www.factmr.com/report/4420/dental-consumables-market
About the Healthcare Division at Fact.MR
The healthcare team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the healthcare industry to a micro-level across 50+ countries for over a decade. The team provides end-to-end research and consulting services to help keep clients at the top of the game. Reach out to us to know how we can help.