After totaling almost $16.5 billion in 2014, the global dental consumables market will increase at a 5.7% compound annual growth rate to approach $27.6 billion in 2023, according to Transparency Market Research.
The company’s analysts attribute this growth to global dental tourism, which is induced by low labor costs, low fixed infrastructure costs, and minimum government intervention particularly in emerging economies like India, Hungary, and Turkey.
Western countries like the United States, Australia, the United Kingdom, and Germany are seeing growth because of new government dental reforms, aging populations, and greater demand for cosmetic dentistry.
Crowns and bridges represent the largest and fastest growing segment of the market. While ceramics fused to metal held the major share of this category in terms of revenue, the analysts expect pure ceramics to surpass them by 2023.
Dental implants will account for the second largest segment, while orthodontics will see the second fastest growth, according to the analysts. And while endodontic products are widely used, their low costs will lead to a small market share through 2023.
Related Articles
Dental Consumables Market to Top $28 Billion by 2020
