Dental Bone Graft Substitute Market: Growing Dental Tourism in Developing Countries
Growth in the dental bone graft substitute market is driven primarily by the increasing prevalence of dental disorders, continuous product commercialization, market availability & product affordability, rising number of geriatric population, and growing public awareness related to preventive care.
Dental Bone Graft Substitute Market Dynamics:
1. Increasing demand from customers and rising inclination toward cosmetic dentistry
2. Low penetration rates for dental implants
3. Growing demand for bone graft substitutes from emerging markets
4. Changing demographics
The dental bone graft substitute market size is projected to reach USD 659 million by 2025 from USD 450 million in 2020, at a CAGR of 7.9%.
Key Questions Addressed in The Report:
1. Who are the top 10 players operating in the global dental bone graft substitute market?
2. What are the drivers, restraints, opportunities, and challenges in the dental bone graft substitute Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of dental bone graft substitute in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?
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COVID-19 Impact on Dental Bone Graft Substitute Market: The dental bone graft substitute market is impacted due to the pandemic, resulting in short term negative growth due to factors such as a sharp decline in elective surgeries. Moreover, dental clinics were temporarily closed, and hospital access restricted to non-essential care. Thus, limited access to clinics, social distancing, the lockdown of the population, which results in less trauma and workplace injuries, and slow-down in patient flow and referrals has also impacted the market growth.
Growing Medical and Dental Tourism in Developing Countries: Dental tourism is an important factor that drives the dental bone graft substitutes market. India’s dental tourism service as there is a lot of cost difference with good quality work when we compared India to the other countries. Like cost for smile designing in US is USD 8,000 and in India is USD 1,000 and for dental implants in the US is USD 2,000, in Hungary is USD 1070 and in India USD 600 approximately. Vietnam revamped its dental care services to world-class standards in the last decade, attracting patients from Australia, New Zealand, and the United States. Today, more than 100,000 tourists from these countries visit Vietnam for cutting-edge dental procedures, contributing more than USD 150 million to the country’s dental industry.
Countries, such as Thailand and Malaysia, offer dental tour packages that include the cost of a dental treatment as well as a vacation, which is still lower than the total cost of a dental treatment incurred in the US or the UK. This has attracted a large number of people from America and Europe to avail dental treatments in Asian countries, thus making dental tourism a major source of revenue collection in these countries. Introduction and availability of newer and advanced dental products is expected to further fuel the growth of this market.
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Europe is one of the major revenue-generating regions in the dental bone graft substitute market. The favorable reimbursement & insurance coverage for major procedures and supportive government regulations for product commercialization are the major factors driving the growth of the dental bone graft substitute market in Europe.