Dental Consumables Market to Witness Comprehensive Growth by 2024
Dental Tourism in Emerging Nations is Key Driving Factor for Market Growth
“In the past few years, there has been a growing demand for dental consumables. This demand is primarily fueled by the growing dental tourism in countries such as Turkey, Hungary, and India. Moreover, emergence of newer technologies and services have also helped in pushing the development of the global market”, notes TMR analyst. A large number of customers are now attracted to undergo dental treatments because of the cost efficiency and affordable services offered in these developing countries. In addition to this, other factors such as minimal intervention by the government, early availability of newer treatment technologies, and lower labor costs are also helping to push the development of the global dental consumables market in upcoming years.
Success of Dental Implants is Fueling Adoption of Market
The overall development of the global dental consumables market is expected gain a solid momentum in next few years is because of the growing success rate of the new dental implants. This is particularly more successful for upper jaw treatments. This has thus led to growing adoption of several types of new procedures that consists of dental implants. Highly matured and sophisticated healthcare services in European nations such as the UK, Spain, Italy, and Greece are further expected to help the overall development of the global dental implants market.
According to the latest research report by Transparency Market Research, the global dental consumables market is projected to witness an intense competition in its vendor landscape. The research report expects the top companies in the global market to account for the largest share. These leading companies accounted for around 62% of the overall market share in recent years. Because of their excellent brand values and affordable prices, these companies have been able to stay ahead of their competitive curve. Some of the key players in the global market for dental consumable include names such as Dentsply Sirona, Henry Schein Inc., Danaher Corporation among others. “These companies, with a view to bolster their market position, are projected to continue to adopt inorganic growth strategies such as mergers, takeovers, strategic alliances, partnerships, and acquisitions”, notes TMR analyst
According to the research report findings by TMR, the global dental consumable market is projected to show a healthy growth rate of 6.1% over the projection period ranging from 2016 to 2024. This CAGR is expected to help the global market to reach a valuation worth US$33.4 bn by the fall of year 2024. In terms of segmentation by product, the bridges and crowns are expected to take the maximum share and will show a CAGR of 7.2%. On the other hand, in terms of regional segmentation, the Europe market is expected to account for the largest share with 41.1%.
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Dental Tourism in Emerging Nations is Key Driving Factor for Market Growth
“In the past few years, there has been a growing demand for dental consumables. This demand is primarily fueled by the growing dental tourism in countries such as Turkey, Hungary, and India. Moreover, emergence of newer technologies and services have also helped in pushing the development of the global market”, notes TMR analyst. A large number of customers are now attracted to undergo dental treatments because of the cost efficiency and affordable services offered in these developing countries. In addition to this, other factors such as minimal intervention by the government, early availability of newer treatment technologies, and lower labor costs are also helping to push the development of the global dental consumables market in upcoming years.
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Success of Dental Implants is Fueling Adoption of Market
The overall development of the global dental consumables market is expected gain a solid momentum in next few years is because of the growing success rate of the new dental implants. This is particularly more successful for upper jaw treatments. This has thus led to growing adoption of several types of new procedures that consists of dental implants. Highly matured and sophisticated healthcare services in European nations such as the UK, Spain, Italy, and Greece are further expected to help the overall development of the global dental implants market.