The global market for dental implants, which stood at US$ 4,508.9 million in 2014, will witness a 9.7% CAGR between 2014 and 2020, and is projected to reach USD 7,879.5 million by the end of 2020. According to market analysts, a large share of this projected growth can be credited to the Asia Pacific market, where consumers are not only become more aware of dental health, but also have more money to spend on dental implants.
Growth to be driven by numerous factors
A leading factor that will steer the global dental implants market ahead is the rising number of older people. This aspect will fuel growth to a large extent in the global market for dental implants. However, it is not just the older population that needs to resort to dental implants as their natural teeth are damaged with the effects of age. A number of younger consumers that are more interested correcting their imperfect smile are opting for dental implants.
However, there is a unique factor at play in the global dental implants market. In developed countries such as the United States and the United Kingdom, the cost of surgical procedures for getting dental implants is often exorbitantly high. This prompts a number of consumers from these regions of the world to travel to countries in Asia and Latin America, where world-class medical treatment is available at a much lower cost. Thus, the growing demand for dental implants has also stirred growth in the global medical tourism market. Countries such as India, Malaysia, Costa Rica and Hungary will see the highest benefits of medical tourism for dental implants.
The road ahead for the dental implants market
This market still needs to contend with several pain points. A key point is the widespread problems with and the lack of dental implant surgeries. The lack of reimbursements deters many consumers from opting for dental implant surgeries. This will prove to be a negative impact on the global dental implants market.
For growth and sustenance in the worldwide dental implants market, players will have to focus on providing technologically advanced solutions such as computer aided design (CAD), mini dental implants, nanotechnology, 3D imaging, sedation dentistry, laser dentistry, and so on.
Overview of segments within the market for dental implants
Europe ranks as the largest market for dental implants. Here, factors such as an emphasis on aesthetics, higher awareness about oral hygiene, and growing adoption of dental implants by consumers, as well as great strides in technology have all contributed to the growth of the dental implants market. Within the European dental implants market, the fastest growth is being witnessed in Germany, the United Kingdom, and France.
The use of right materials is central to the global market for dental implants. In this market, titanium holds the largest market share. The market for titanium implants is expected to witness a CAGR of approximately 9.8% between 2014 and 2020.
In the regional markets, growth will likely not be as aggressive in the North American market. Here, moderate growth will be observed mainly because of a population that is aging rapidly and heightened awareness about oral hygiene and dental aesthetics. In the North American market, consumers are more likely to undergo advanced dentistry procedures as they have more awareness and money to spend as compared to many other countries. The American Dental Hygienists' Association (ADHA) reported in 2008 that nearly 75% American adults suffered from gum diseases of various forms.
The fastest growth will be seen in the Asia Pacific market as the large population here is becoming increasingly affluent and aware of maintaining dental health. Medical tourism will provide a further boost to the market for dental implants here.
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