Cosmetic and dental issues arise as a result of aging. According to National Institute of Dental and Craniofacial Research, geriatric population (aged 65 years and above) have an average of 18.9 remaining teeth, in turn creating a highly lucrative market for dental implants. Technological advancements coupled with high demand for dental implant procedure has resulted in a highly lucrative market characterized by high profit margin for players across the value chain. Advancements in technology allow for implants in people without a proper structured or weak jawbone. In 2015, dental implants accounted for over 15% share of global dental device market revenue.
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Dental implants market witnessed a very sluggish growth in terms of innovation post-1957. However, post 2000, many new companies emerged in the market leading to fierce competition among players in a highly fragmented industry. As a result, companies are emphasizing on product innovation to sustain and expand their global market presence. For instance, in 2016, Israel–based Magdent launched a miniature electronic device (MED) capable of accelerating bone growth three times faster than normal. The product is yet to receive approval from the U.S. FDA.
Dental implants are witnessing steady growth in demand, owing to rise in geriatric population and higher inclination of the populace towards maintaining aesthetic looks. Post the invention of dental implants in1954, the dental implants market revenue has grown manifold and is still highly lucrative for market players. Demand for dental implants is steadily increasing as the procedure offers a perfect solution for artificial teeth surgically imbibed in upper and lower jawbone.
Highly competitive Europe market to maintain its dominance throughout the forecast period
Europe is expected to dominate the market throughout the forecast period. The region is expected to account for 30.8% of overall market share by 2024. Competition in dental implants market has increased primarily between Straumann and DENTSPLY Implants. According to Europa, over 25% of the population in Europe is expected to fall under geriatric age group by 2020. This coupled with high discretionary income in the region is expected to continue to position the region as a highly lucrative market for dental implants. Germany is one of the key markets for dental implants. The country spends highest per capita income on teeth than any other country in Europe.
Emerging economies to present highly lucrative growth avenues
Dental implant players are focused towards strengthening of direct distribution channel along with partnership with regional manufacturers and distributors. DENTSPLY Implants, Straumann AG, Bicon Dental Implants, Anthogyr, KYOCERA Medical Corporation, Lifecore Dental Implants, Zest Anchors, Implant Innovations Inc, and BioHorizons IPH, Inc., Neobiotech USA. Inc., Sweden & Martina, TBR Implants Group, Global D, and MOZO-GRAU, S.A. are some of the key industry players in dental implants market. Straumann AG and DENTSPLY Implants are leading players in Europe. Click to Read More On Global Dental Implants Market