The global Dental Laboratories Market size is anticipated to reach USD 50.18 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% during the forecast period, attributed to increasing cosmetic dental procedures, geriatric population, and awareness regarding oral hygiene. In addition, technological advancements are also expected to fuel the growth. For instance, the digitalization of dental labs and introduction of Computer Aided Manufacturing (CAM) and Computer Aided Design (CAD) technology has improved accuracy of dental appliances.
According to an article published by United Nations, the number of adults in age group of 80 years and above is anticipated to reach around 425 million in 2050, from nearly 137 million in 2017. Geriatric population is highly susceptible to dental conditions such as xerostomia coronal and root caries, and periodontitis. Hence, the market is projected to witness significant growth in near future Furthermore, adverse effects due to the frequent use of prescription or Over-the-Counter (OTC) drugs by elderly population is also anticipated to drive the market.
The market for dental laboratories is highly fragmented and is anticipated to witness a significant merger and acquisition activity from both large dental service organizations and private equity firms. These mergers and acqusitions are anticipated to lead to market consolidation and enable to leverage advantages of white space acquisition. For instance, Smile Brands, a Gryphon Investors backed company, acquired Johnson Family Dental as an add-on acquistion in 2017. This acquistion is anticipated to contribute to the company’s growth through addition of new practice locations.
Request a free sample copy or view report summary: Dental Laboratories Market Report
Dental Laboratories Market Report Highlights
- Oral care led the component segment in 2018, attributed to increasing awareness regarding importance of good oral habits and health
- Dental lasers segment is anticipated to witness a lucrative growth over forecast period. Miminized bleeding and damge to surrounding tissues is anticipated to increase the adoption of laser systems in dental procedures
- North America led the dental laboratories market in 2018, attributed to the presence of advanced medical infrastructure, supportive government initiatives, and comparatively higher healthcare expenditure in the region
- Some of the key market players are Dental Services Group;Dentsply Sirona Inc.; Straumann; Henry Schein Inc.; Danaher Corporation; and Modern Dental Laboratory