According to the Market Statsville Group (MSG), the global restorative dentistry market size is expected to grow from USD 15,595.5 million in 2021 to USD 25,904.1 million by 2030, at a CAGR of 5.8% from 2022 to 2030. Restorative dentistry is defined as the diagnosis, investigation, and integrated therapy of illnesses of the teeth and their supporting structures, as well as the rehabilitation of the dentition, to meet the individual's aesthetic and functional needs. Restorative dentistry is what a dentist performs to maintain a person's mouth healthy and completely functional.
The increase in the number of tooth repair treatments will likely drive the market's growth. Furthermore, the increased demand for improved aesthetic dental operations is expected to boost the restorative dentistry industry. Furthermore, a surge in dental tourism is expected to cushion the expansion of the restorative dentistry industry. Inadequate reimbursement, on the other hand, is expected to hamper the expansion of the restorative dentistry market throughout the forecast period.
Furthermore, the shift toward new technology and products will create further prospects for the future growth of the restorative dentistry market. However, the pricing pressures experienced by major market participants may provide further challenges to expanding the restorative dentistry market in the near future.
Since January 2020, the COVID-19 pandemic has caused a global healthcare crisis, resulting in severe economic effects. Many dental clinics and hospitals were working in a reduced capacity to contain the virus's spread in Q1 2020. At the same time, the patients postponed appointments with dentists, lowering dental office income in the United States by up to 80–90%. This has had a negative impact on the dental impression system business.
Leading market companies' revenues and operating earnings have decreased due to COVID-19. Tight manufacturing constraints also resulted in lower inventories. In many regions of the world, dental office activity restarted in Q3 2020, resulting in a steady demand increase in the restorative dentistry industry.
North American and European markets would have recovered significantly by August-September 2020. However, the APAC market, particularly in China and Korea, was still struggling at the time. However, the industry will likely fully recover throughout the forecast period since the growth drivers for the dental impression systems market remain intact. The formation of dental distributors, the growing digitization of dental hospitals, clinics, and laboratories, and expanding dental clinics and practices are projected to drive the market.
Dental tourism is one of the most profitable aspects of the medical tourism industry. This sector has risen tremendously in recent years, with rising countries such as Mexico, India, Poland, Hungary, and Turkey emerging as fast-growing dental tourism destinations. Growth in these markets may be ascribed mostly to lower dental treatment costs in these nations compared to wealthy ones and infrastructure upgrades. Dental tourism also provides reduced wait times and significant cost savings.
The cost of dental tourism is a major element driving the market's expansion. Some of these nations' dental tour packages attract many dental tourists each year. These packages include the cost of dental treatments and trip packages; the total cost in emerging nations is still lower than the cost of dental treatments alone in the United States or the United Kingdom.
The number of patients going from high-cost treatment locales to low-cost treatment destinations in Asia, Latin America, and Eastern Europe is likely to grow in the future years. The distance traveled by patients also significantly impacts the growth of a country's dental tourism business. Travel expenses should also be addressed while choosing a treatment location. Many nations, like Thailand, Malaysia, and Hungary, provide dental tour packages that include dental treatments and a holiday, drawing many patients from industrialized countries.
As a result, dental tourism will present several chances for manufacturers and distributors to establish themselves in rising markets. These kinds of activities will increase the need for restorative dental products. Recognizing the cost benefits, many patients from industrialized nations are increasingly flying abroad for dental procedures, increasing the demand for restorative dental materials in their respective dentistry sectors.
The unfavorable reimbursement policies and high product costs are impeding the growth of this industry.
Because of the enhanced accuracy afforded by these technologies for dental restoration and digital orthodontics, computer-aided design (CAD)/computer-aided manufacturing (CAM) is rapidly being used by the dentistry sector. These technologies are used to create milled crowns, dentures, bridges, and fabricated abutments for dental restoration operations. CAD/CAM technology is also used in orthodontic treatments to design customized brackets and detachable braces. The growing usage of CAD/CAM has also decreased the need to wear temporary bridges/crowns during dental restoration treatments, allowing for less time-consuming treatment procedures and reducing the frequency of doctor visits.
However, most prosthetic pieces are still created by hand, and the usage of CAD/CAM in restorative dental goods is increasing because of its benefits. Although most prosthetic parts are still made by hand, CAD/CAM prosthetic elements are becoming more popular due to the advantages of CAD/CAM over traditional methods. Furthermore, CAD/CAM offers substantial benefits in customizing dental prostheses. Digitalization also motivates dental product makers to spend more on CAD/CAM technology.
The study categorizes the restorative dentistry market based on product type, end-user, and application at the regional and global levels.
Based on end-user, the restorative dentistry market is divided into dental hospitals and clinics, dental laboratories, and other end users. In 2021, the dental hospitals and clinics category accounted for more than 50.0 percent of the market. The growing number of hospitals and dental clinics in expanding regions such as Asia and Europe is attributable to the segment's rise. This segment is also being driven by rising enrolment in dentistry programs. According to the NCBI, 2.7 lakh people will be registered with the Dental Council of India in 2019. (DCI). Thus, the rising number of dental hospitals and clinics and a large number of newly graduated dental students each year are expected to drive this segment's growth.
Based on the regions, the global restorative dentistry market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia-Pacific is anticipated to expand rapidly with the highest CAGR throughout the forecast period. Breakthroughs in dental treatment procedures are projected to drive the growth of the Asia Pacific restorative dentistry market in the coming years. Low dental treatment prices in countries such as India have fueled medical tourism, resulting in enormous development in the Asia Pacific restorative dentistry industry. Increased FDI into nations such as India and China has encouraged industry companies to invest there. As a result, the Asia Pacific area has seen significant market penetration. Increased knowledge about excellent oral health has resulted in a significant increase in tooth cleaning and root canals, influencing regional market trends.
The global restorative dentistry market is highly competitive with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
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