The global cosmetic dentistry market will soar from $16.1 billion in 2015 to $22.4 billion by 2020, rising at a 6.8% compound annual growth rate, according to MarketsandMarkets. The research company attributes this increase to a rising focus on dental aesthetics, a growing middle class, and growing consumer awareness.
The growing demand for orthodontic braces and dental implants in emerging markets owing to dental tourism will provide new growth opportunities for companies, further propelling the market, along with new technologies driven by investment in research and development. A lack of reimbursements and the high prices of dental imaging systems may impede this growth, though.
In 2014, the dental systems and equipment market occupied 32% to 37% of the global cosmetic dentistry market due to the widespread use of equipment such as CAD/CAM systems, handpieces, and dental chairs. CAD/CAM systems enable the effective design of dental prosthetics in 3-D, finding wider applications and further encouraging market growth.
Europe accounted for the largest share of the market, followed by North America, Asia-Pacific, and the rest of the world. The Asia-Pacific region is seeing the fastest growth due to rising disposable incomes, improving healthcare infrastructure, and rising dental tourism.
Major players in cosmetic dentistry include Danaher, DENTSPLY International, 3M, Institut Straumann AG, Zimmer Biomet Holding, Align Technology, Sirona Dental Systems, BIOLASE, Planmeca Oy, and A-dec. New product launches in addition to agreements and partnerships represent their key strategies for growth.
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