North American Dental Equipment Market Can Reach $ 5,107.2 Mn Valuation by 2027: MRFR
Technological innovation and implementation have scored well for dental industry and North America acts as the core for such research & developments. The North America dental equipment market is touted to reach USD 5,107.2 million by 2023 with a CAGR value of 6.23% during the forecast period (2017-2023), claims Market Research Future (MRFR) in a holistic report on the same. Growth of this North America dental equipment market can be attributed to better infrastructure that diagnose problems at an early stage and provides cure accordingly. The report includes drivers such as the prevalence of dental diseases, increasing geriatric population, infrastructural superiority, the launch of new dental procedures, rising healthcare expenditure, and government initiatives are helping the North America dental equipment market in moving ahead.
On the flip side, the North America dental equipment market can get bogged down by poor reimbursement policies.
Product-wise, the North American dental equipment market is segmented into dental radiology equipment, dental sensor, dental hand pieces, CAD/CAM, dental chairs, dental lasers, casting machines, and others. The dental radiology equipment is further segmented into intra-oral X-rays, extra-oral X-rays, 2D imaging, CBCT, and others. The segment holds the largest market share of 32.6% and its valuation expects to reach USD 1,577.7 million by 2023. The dental sensors are sub-segmented into dental X-ray sensors, phosphor plate sensors. The segment can expect a lift up by CAGR 6.45% during the forecast period. The dental hand pieces include electric, hybrid, and air driven. The CAD/CAM consists software and equipment. The dental chairs comprise electric and hydraulic. The dental lasers are further segmented into lasers for soft tissue, and lasers for hard tissue. The casting machine includes injection casting machine, vacuum casting machine, and centrifugal casting machine.
Based on the end-user, the North American dental equipment market is divided into hospital, dental clinics, dental laboratories, and others.
The Dental Health Products has the U.S. in forefront where people have invested substantially in the healthcare sector and gaining much from it. Almost 77.4% of the regional market share can be attributed to the U.S. The region always embraces new products and research & development flourishes owing to this. Major international companies are based out of this region which gives the region leverage to profit more. Insurance companies are working round-the-clock promoting healthy living. The budget for health care in the U.S. holds 16% of the total GDP which can be taken as a signifier for the increasing sale of the dental equipment market. Canada is also contributing considerably in the North American dental equipment market growth.
Major companies rely on strategies that include new product launch, merger, collaboration, acquisition, and other methods to take the North American dental equipment market forward. For instance, Institut Straumann AG acquired 30% stake from their biomaterials partner Botiss medical AG. Dentsply Sirona recently took over OraMetrix with an aim to improve their technological setup which can surely propel the North America dental equipment market.
Some of the major players in this North American dental equipment market are Patterson Dental (US), Henry Schein (US), Dentsply Sirona (US), 3M (US), Straumann (Switzerland), Danaher Corporation (Switzerland), PLANMECA OY (Finland), Carestream Health, Inc., and Biolase Inc.
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