Medical Tourism Driving Global Dental Consumables Demand
The global dental consumables market is expected to experience growth from $14.9 billion in 2011 to $23.8 billion in 2018, representing a compound annual growth rate (CAGR) of 7.1% over the period, according to a recent report from Transparency Market Research. The global dental consumables market is reportedly driven by the robust expansion of medical and dental tourism in the highly cost-efficient emerging countries such as India, Turkey and Hungary, and the lack of government intervention in medical practices in these countries. In developed countries, major drivers of the dental consumables market include a number of government-initiated reforms related to dental health, such as the 2012 act of The Comprehensive Dental Reform in the U.S. Rising demand for cosmetic surgeries in developed countries is also largely contributing toward demand growth of dental consumables.
The dental crowns and bridges segment led to the largest share of the global dental consumables market in 2011—nearly 25%—mainly due to rising global awareness about dental hygiene. Ceramic CAD/CAM, a sub-segment of this market segment, is expected to grow at a CAGR of nearly 18% during the forecast, due to the highly accurate results of these devices for diagnosing dental impairment. Rising popularity of cosmetic dentistry will lead to increased demands for orthodontics products during the report’s forecast.
Geography-wise, Europe held the largest share of the market in 2011, largely due to the availability of funding for oral healthcare facilities in European countries such as Germany and the UK. A booming medical tourism industry in developing economies such as Russia, China and India will propel growth of the growth of the global dental disposables in the developing parts of world. Untapped medical facilities and needs, as well as rising disposable incomes, in these regions will also help drive the market further.
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