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Global Dental Market to Expand at a CAGR of 5.6% in the 2016~2021 Period With Fastest Growth Taking Place in China, Says TrendForce

Expansion of the elderly population worldwide and increasing consumer awareness of oral healthcare needs are propelling the expansion of the global dental market. According to TrendForce biotechnology analyst Mush Ko, the scale of the global dental market came to US$28.1 billion in 2016 and is projected to grow at a CAGR of 5.6% to reach US$36.8 billion in 2021. Among the product segments, dental implants market will have the fastest market growth.

“Aging of the global population raises demand for dental restoratives, dental prosthetics and dental implants,” said Ko. “In the developed markets such as Europe, Japan and the U.S., consumers put more emphasis on cosmetic dentistry and preventative dental care. Meanwhile, rising living standard in the emerging markets is also spurring demand for related products and services.”

Ko added that despite constraining factors such as the shortage of dental professionals, the global dental market will see steady growth over the next several years.

The prominent players are focusing on the lucrative dental implants market

Looking at the dental market by product segments, TrendForce expects dental implants will experience the fastest market expansion in the next several years. The average cost of dental implant treatments have been brought down by the maturation of medical technologies, advancements in the development of implant materials and the growth in the number of related professionals. Due to better technologies and lower costs, dental implant treatments have also become more widely accepted by patients. As a result, the global dental implants market continues to grow and its opportunities are attracting attention from major companies within the global dental industry.

“Three of the five largest acquisition deals in the global dental industry in the recent years involved companies supplying dental implants,” said Ko. “These three deals were Danaher’s purchase of Nobel Biocare, Dentsply Sirona’s acquisition of MIS Implants and Neodent becoming Straumann’s subsidiary. This wave of consolidation in the industry indicates that major industry players are bullish about the prospects of the dental implants market and want to rapidly grow their implants businesses by acquiring related company.”

China Is Expected to Overtake Italy to Become World’s Fifth Largest Dental Market

The ratio of dentists to patients, the rate of dental treatments and the market penetration of dental implants in China are all quite low. However, the country’s dental market continues to grow on account of the aging of the population, rising disposable income and increasing awareness of (and education on) oral healthcare. TrendForce projects that the scale of China’s dental market will grow from around US$900 million in 2016 to US$1.5 billion in 2021 at a CAGR of 10.74%. By 2019, China will overtake Italy as the fifth largest dental market for the industry.

Some of the country’s well-known suppliers of dental industry include Hefei Meiya Optoelectronic Technology, Shandong Huge Dental Material (HUGE), Shandong Sinocera Functional Material, Shenzhen Jiahong Dental Lab, Modern Dental Group, Shanghai Fosun Pharmaceutical, Weigao Group, Xianyang Northwest Medical Instrument, Ningbo Runyes Medical Instrument and Fujian Meisheng Medical Science & Technology. 

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