Dental Laboratories Market Growth & Trends
The global dental laboratories market size is expected to reach USD 48.2 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% from 2022 to 2030. This can be attributed to increasing cosmetic dental procedures, the geriatric population, and awareness regarding oral hygiene. In addition, technological advancements are expected to fuel growth. For instance, the digitalization of dental labs and the introduction of Computer Aided Manufacturing (CAM) and Computer Aided Design (CAD) technology have improved the accuracy of dental appliances.
According to World Population Aging, there were nearly 727 million people aged 65 or over in 2020, globally, and the number of aged people is anticipated to double to 1.5 billion by 2050. The high incidence rate of the elderly population is anticipated to fuel the market growth as the geriatric population is highly susceptible to dental conditions such as xerostomia coronal & root caries and periodontitis. Furthermore, the adverse dental effects due to the frequent use of prescription or OTC drugs by the elderly population are anticipated to boost the market growth.
The market is highly fragmented and is anticipated to witness significant mergers & acquisitions from both large dental service organizations and private equity firms. These mergers and acquisitions are anticipated to lead to market consolidation and enable to leverage advantages of white space acquisition. For instance, in 2022, Henry Schein, Inc. acquired Midway Dental Supply. The Midway company is a dental distributor serving dental laboratories and dental offices across the U.S. This acquisition is anticipated to contribute to the company’s growth through the addition of a new product portfolio.
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Dental Laboratories Market Report
Report Attribute Details
Market size value in 2022 — USD 31.6 billion
Revenue forecast in 2030 — USD 48.2 billion
Growth rate — CAGR of 5.4% from 2022 to 2030
Base year for estimation — 2021
Historic data — 2018–2020
Forecast period — 2022–2030
Dental Laboratories Market Report Highlights
- The oral care segment dominated the market in 2021. This can be attributed to increasing awareness regarding the importance of good oral habits and health
- The dental lasers segment is anticipated to witness lucrative growth over the forecast period. Minimized bleeding and damage to surrounding tissues are anticipated to increase the adoption of laser systems in dental procedures
- North America dominated the market in 2021. This can be attributed to the presence of advanced medical infrastructure, supportive government initiatives, and comparatively higher healthcare expenditure in the region
