NEW YORK, Dec. 17, 2016 /PRNewswire/ -- Global cosmetic dentistry market is expected to reach USD 27.95 billion by 2024, according to a new report by Grand View Research, Inc. More and more people are opting for esthetic dental procedures, which has resulted in development of advanced technologies. Cognizance among populations about such techniques and procedures has allowed this industry to prosper by leaps and bounds. Developing countries have generated a significant amount of disposable income, which is the main reason why cosmetic dentistry is flourishing. Geriatric population, in general, has propagated the growth of this industry with old-age-related tooth ailments.
Treatments that include teeth whitening, change in dental appearance, and intervention of malocclusion are the most frequent procedures that patients undergo in cosmetic dentistry. Dental tourism has been one of the most important reasons for cosmetic dentistry to prosper globally.
The major restraints in this market are lack of reimbursement options for cosmetic procedures and expensive cost of dental imaging. Insurance companies and government agencies do not regard cosmetic procedures as essential and thus, not many reimbursement options are available for cosmetic dentistry. On the other hand, dental imaging requires technologically advanced equipment requiring huge investments that are not covered by insurance companies. This is another reason that hinders the growth of this sector.
On the basis of the products, this industry is segmented into dental systems and equipment, dental implants, dental bridges, dental crowns, dental veneers, orthodontic braces, bonding agents, and, inlays & onlays. The major market share in case of products was accounted for by dental systems and equipment, as they include a wide range of products that are used in a majority of the dental procedures. With an escalation in individuals opting for cosmetic dentistry, dental braces are also used extensively to alter the alignment of teeth. With CAD/CAM systems, the designing of dental prosthetics has become relatively easy allowing 3D technology to be used extensively, which has drastically improved accuracy of procedures.
Further Key Findings from the Study Suggest:
The European region is set to lead the cosmetic dentistry market owing to technological advances and increase in patients opting for procedures for esthetic purposes.
The Asia Pacific region is bound to grow significantly in the forecast period. This is majorly contributed by large population bases and disposable income being generated in this region.
Dental systems and equipment garnered the highest market share owing to their wide range of applications in the dental industry.
Increasing awareness about such procedures in the common population has allowed more individuals to opt for minimally invasive techniques to correct dental deformities and increase esthetic appeal.
Some key market players include Danaher Corporation, Sirona Dental Systems, Dentsply International, Inc., Institut Straumann AG, 3M Company, and Zimmer Biomet Holding, Inc.
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