Global Dental Implants Market: Snapshot
The global dental implants market is currently being augmented by the increasing number of patients coming forward for treatment of dental caries. A growing number of people – especially from the geriatric demographic – are becoming susceptible to dental problems, therefore increasing the demand for dental implants. The global dental implants market is also being driven by factors such as the growing disposable income of patients from emerging economies and the latest advancements in CAD/CAM tech that is replacing conventional methods. Current factors restraining the global dental implants market include the very high costs of dental implants, especially for patients from emerging economies, followed by the overall lack of reimbursement policies that cover dental work in several countries.
The global dental implants market is expected to progress at a CAGR of 7.9% within a forecast period from 2016 to 2024 in terms of revenue. This revenue is expected to reach US$8.18 bn by the end of 2024, after it will reach US$4.46 bn at the end of 2016. In terms of volume, the global dental implants market is expected to expand at a CAGR of 7.9% within the above forecast period.
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Global Players Try Their Hand at Localized APAC Dental Implants Market
With Europe leading the global dental implants market currently in terms of overall demand, a greater proportion of key players reside here. This region is also favorable to larger players in terms of popularity and government support, thereby allowing them to accelerate their research and development efforts. Europe is expected to retain its lead in the global dental implants market for 2016, followed closely by North America. On the other hand, globally prominent players are looking towards Asia Pacific for a better revenue stream. Countries from the Asia Pacific region are showing a very high growth in demand for medical facilities, including dental. This is creating a high amount of interest among international names who are trying to expand their business borders.
However, the global players need to work around the massive localized markets present in countries such as India and China. The dental implant market in Asia Pacific, although very large, is dominated by regional entities. This could change over the coming years, as the growing disposable incomes and increasing scope of availing insurance coverage is allowing patients in Asia Pacific to demand for premium quality dental implant products and treatments. This is where global players in the global dental implants market are at an advantage; a lot of the key players possess tools and technologies that are far superior to the conventional methods being used in emerging economies, allowing them to gain a wide level of popularity among these nations.
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Titanium Dental Implants Soar in Popularity
In terms of the types of dental implants, the two key segments in the global dental implants market at the moment are titanium implants and zirconium implants. Titanium implants are expected to become the leading segment in the market for 2016 in terms of revenue generation. They are also expected to be the leading segment in the global dental implants market for quite a while. The commonly used forms of titanium alloys in the global dental implants market are extremely tough and resistant to wear and tear and corrosion. At the same time, they are light in weight and can withstand high temperatures. This makes titanium alloys the prime choice for a large number of dental implants. Titanium dental implants are also leading the global dental implants market in terms of growth rate, between 2016 and 2024.
The key players currently operating in the dental implants market from a global standpoint, include Danaher Corporation, Dentsply Sirona, Institut Straumann AG, and Zimmer Biomet Holdings, 3M Health Care, and CAMLOG Biotechnologies AG.