Dental Implants Market Is Estimated To Witness High Growth Owing To Opportunity Of Growing Elderly Population
Dental implants are artificial tooth root replicas that are surgically positioned into the jawbone to hold a replacement tooth or bridge. They help support replacement teeth or a bridge and prevent the deterioration of surrounding bone. The need for dental implants is increasing owing to rising dental issues among elderly people.
The global Dental Implants Market is estimated to be valued at US$ 5,727.5 million in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The dental implants market is expected to witness significant growth owing to the growing elderly population worldwide. Old age brings issues like missing or decayed teeth which often require replacement. With rising life expectancies, the geriatric demographic is expanding rapidly. As per United Nations data, the number of people aged 60 years or above is expected to more than double, from 900 million globally in 2015 to around 2.1 billion by 2050. The growing pool of elderly individuals will contribute remarkably to the demand for dental implants as they seek to restore missing teeth and retain optimal oral function. This increasing elderly base presents lucrative opportunities for players in the dental implants market.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate. Establishing production facilities requires large capital investments for manufacturing equipment and infrastructure which acts as a barrier. However, innovation and new technologies can pose a threat.
Bargaining power of buyers: The bargaining power of buyers is moderate. The demand for dental implants is growing continuously but individual buyers have limited influence over pricing as branded products dominate the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material prices and costs can impact profit margins. Suppliers of specialized components have some pricing power.
Threat of new substitutes: The threat of new substitutes is low. Alternatives like dentures are less durable and natural replacement of missing teeth has limitations.
Competitive rivalry: Rivalry is high with major players competing on brand value, technology, quality, and pricing.
SWOT Analysis
Strengths: Established brands, advanced technologies, strong distribution networks, focus on R&D & innovation
Weaknesses: High capital requirements, stringent regulations, dependency on specialist dentists
Opportunities: Rising awareness, growing geriatric population, emerging markets, CAD/CAM technology
Threats: Local players with low costs, pricing pressure, reimbursement policies
Key Takeaways
The Global Dental Implants Market Demand is expected to witness high growth driven by rising dental tourism and growing awareness about oral health. The global Dental Implants Market is estimated to be valued at US$ 5,727.5 million in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023 to 2030.
The North America region currently dominates the market due to presence of major dental implant manufacturers and developed healthcare infrastructure. Europe is another major market driven by high disposable incomes and focus on preventive healthcare. The Asia Pacific region is projected to grow at the fastest pace during the forecast period. Rapidly developing economy, growing middle class population, rising dental expenditure contribute to the growth. Countries like China, India, South Korea, and Indonesia are expected to offer high potential.
Key players operating in the dental implants market are Straumann Group, Nobel Biocare services AG, DENTSPLY Sirona Inc., Zimmer Biomet Holdings Inc., Bicon, LLC. Straumann Group is the global leader with a wide portfolio and strong presence across major markets. Nobel Biocare and DENTSPLY Sirona also enjoy a significant market share through their established product brands and distribution networks.
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