Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- The booming trend of dental tourism coupled with better diagnostic and treatment technologies for dental problems will drive the global dental equipment market over the next three years, says Transparency Market Research (TMR) in its latest report. The report further states that the market will grow also as a result of dentistry playing a growing role in aesthetics. The report, titled 'Dental Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018,' says that the market is poised to register a 4.7% CAGR through the report's forecast period. The market is projected to stand at US$7.6 bn by 2018, up from its 2011 valuation of US$5.5 bn.
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At the same time, the report finds that certain factors will slow down the growth of the global dental equipment market. These include: The use of refurbished dental equipment in order to curtail costs, the relatively high price point of advanced dental equipment, the levying of taxes on certain classes of dental equipment, and a growing awareness about the use of fluoridation to prevent dental decay.
The dental equipment market has been studied on the basis of product type, and covers the following equipment: Dental radiology equipment, systems and parts, dental lasers, hygiene maintenance devices, laboratory machines, and other equipment. The report identifies the systems and parts segment as being the most dominant in 2011 thanks largely to the expansive application range enjoyed by these products. Dental radiology equipment was the second-largest segment in 2011 in the global dental equipment market by product type.
Interestingly, while dental lasers represented the smallest segment within the global dental equipment market by product type in 2011, this segment is growing very rapidly. TMR analysts state that the increasing use of dental lasers in minimally invasive surgical procedures will prove vital in helping this segment report the fastest growth rate in the global dental equipment market.
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On the basis of geography, the report segments the global dental equipment market into: North America, Europe, Asia Pacific, and Rest of the World. The findings of TMR's study show that the share of North America in the global dental equipment market was the highest. Trailing North America was Europe with a market share of over 35% as of 2011. Asia Pacific will report slow growth over the report's forecast period even as North America continues to lead at the global level.
The North America dental equipment market will benefit from factors such as the high prevalence of dental caries among people here. In 2011, in North America, the decayed, missing, filled teeth (DMFT) count was estimated at 2.35 among children aged 12 years, says a WHO report. Besides this, consumers in North America spend substantial amounts of money on cosmetic dental procedures. The American Academy of Cosmetic Dentistry, for instance, states that people in the U.S. alone spend approximately US$2.75 bn annually on cosmetic dental procedures.
A comprehensive study of the competitive landscape of the global dental equipment market is yet another important aspect of TMR's report. In 2011, the Danaher Corporation accounted for the highest share of the global dental equipment market. The company's wide-ranging product portfolio can be credited for its leading position in the market. The other key companies in the global dental equipment market include A-dec Inc., Sirona Dental Systems, GC Corporation, CareStream Health, and Biolase, Inc.
Dental Equipment Market, by Geography
- North America
- Rest of the World (RoW)
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Source:Transparency Market Research