Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Burgeoning dental tourism in developing countries, government-supported dental reforms in developed countries, and an aging population will lead the global dental consumables market to a healthy CAGR of 7.1% between 2012 and 2018. These are the findings of a latest study by Transparency Market Research, titled 'Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018.' The report pegs the value of the global dental consumables market to touch US$23.8 billion in 2018, growing from its 2011 value of US$14.9 billion.
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Elaborating on how the global consumables market is shaping up in developing regions, a TMR analyst says, "The low labor and infrastructure costs and limited government intervention in countries such as Turkey, Hungary and India bode well for the dental tourism market here. This has, in turn, strengthened demand for dental consumables reported from these regions." The scenario, although positive in developed nations, is slightly different from that in developing nations, the report notes. In the UK, US, Australia and Germany, government-backed dental health reformed have augured well for the dental consumables market. The Comprehensive Dental Reform Act of 2012 in the U.S., for instance, has helped drive up the demand for dental consumables. A higher number of cosmetic dentistry procedures carried out in developed countries will further impel the growth of the dental consumables market.The report states that based on product type, the dental crowns and bridges segment was dominant in 2011 with a 25% share of the market. Heightened awareness about oral hygiene is seen to be the reason behind this segment's appreciable share.
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According to the report, the market for ceramic CAD/CAM - which forms a segment within the crowns and bridges market - will exhibit remarkable expansion with a CAGR of 18% between 2012 and 2018. The greater accuracy rendered by the CAD/CAM technique can be credited for this segment's growth. The highest CAGR is expected to be demonstrated by the orthodontics market thanks essentially to the growing popularity of cosmetic dentistry.Furthermore, the TMR market study finds that Europe was the largest region (based on market share) within the dental consumables market in 2011. Oral healthcare is high on the agenda of healthcare agencies in developed European economies and thus dental programs receive generous funding from governments. Going forth, market players stand to benefit from lucrative opportunities emerging in non-traditional markets such as China, India and Russia. The high prevalence of unmet medical needs and the ability of consumers to spend more on their health, coupled with the progressive increase in dental tourism will push ahead the dental consumables market in Asia during the report's forecast period.
The analysis also delves deep into the competitive landscape of the dental consumables market. Dentsply International Inc. was the market leader with an impressive 18% share of the dental consumables market in 2011. This can be credited to the company's wide-ranging product portfolio. The report also profiles other companies such as Danaher Corporation, Nobel Biocare, 3M ESPE, Straumann, GC Corporation, Ivoclar Vivadent, Heraeus Dental, Align Technology, and others.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research