Dental Consumables Market will have future growth in North America by Reaching Huge Revenue of $5.2 Billion till 2023.
Market Research Future published a research report on North America Dental Consumables Market Research Report – Forecast Up To 2023. Report provides a summary of key players. Also, their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive view for the market.
The North America Dental Consumables Market might reach USD 5,290.9 million by 2023.
The market might have a future growth of a CAGR of ~ 6.0 % during the forecast period 2017-2023. Dental Consumables are a category of products that are used on patients by dental practitioners or dentists. They use dental consumables to treat and /or perform procedures. I.e preventive, restorative, diagnostic, and emergency oral health issues. Factors such as the increasing prevalence of dental diseases and the rising number of dental procedures are the major drivers for the market growth.
According to the American Dental Association
In 2014, 52.3% of adults reported visiting the dentist every six months. While 15.4% of visits happen once per year, and 11.0% reported once every two to three years. Moreover, according to the Centres for Disease Control and Prevention, in 2014, 19% of the children aged 5-19 years and 31% of adults aged 20-44 have untreated dental caries.
Additionally, the growing geriatric population is fuelling market growth. However, poor reimbursement policies and the old market of dental distribution might restrain the market growth during the forecast period.
Key Players for Global North America Dental Consumables Market
Institut Straumann AG, Henry Schein, Inc., Patterson Dental Supply, Inc., Dentsply Sirona, Kerr Corporation, Danaher Corporation, GC orthodontics, Planmeca Oy, and American Orthodontics, and others are some of the prominent players at the forefront of competition in the North America Dental Consumables Market and are profiled in MRFR Analysis.
The North America Dental Consumables Market appears to be highly competitive and fragmented
North America Dental Consumables Market embodies the presence of several well-established and small players. Even international players are increasingly expanding their steps in the developing economy. Thus, making it difficult for regional vendors to compete with them. This is true in terms of features such as product differentiation, product portfolios, quality, and pricing.
The North America Dental Consumables witnesses increased competition
This will eventually get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch. Obviously, in order to gain a competitive advantage in this market and to maintain their market position.
Regional Analysis for Global North America Dental Consumables Market
The U.S accounts for a significant market share owing to high expenditure on health care. Additionally, the fastest uptake of new products in the U.S drives the dental consumables market. Concentration of the major healthcare companies in the developed countries of this region coupled with large insurance penetration also adds to the market growth. Moreover, the U.S expend high amount on its healthcare, which accounts for 16% of total GDP, which also increases the sale in dental consumables market.
U.S has been a fast-growing market when it comes to dental consumables
The population in the countries representing this region seems to be the most informed when it comes to oral health. People living in this region avoid compromising on their oral health. In the U.S, most people are health conscious and they pay more attention to dental health. This allows them to invest more in dental treatments. The overall cost of most of the dental procedures in the U.S has increased.
The North American market for dental consumables might reach USD 5,290.9 million by 2023
The North American market for dental consumables might grow upto CAGR of 6.0% during the forecast period from 2017-2023. Increasing geriatric population, rising number of procedures, and increasing prevalence of dental diseases have driven the growth of the market in the recent past.
According to the National Coalition on Health Care, in 2012, American families spent an average of USD 9,000 on out-of-pocket health insurance and other medical costs like co-pays and deductibles.
Key Findings:
- Dental implants segment held the largest market share in 2016. The segment expects to reach USD 2,103.9 million by the end of 2023. Furthermore, dental implants segment anticipates to be the fastest-growing market that might grow at a CAGR of 6.5 % during the forecast period 2017-2023.
- U.S commanded the largest market share of North America dental consumables market in 2016. This market is expected to reach USD 1,570.0 million by 2023, at a CAGR of 7.0 % during the forecast period of 2017-2023
Article from: MedGadget
Lorin Berland, DDS