Augusto Beato, CEO of Portland SEO, noted that the rising senior population and inclination for aesthetics would push the global dental implants and prosthetics market to USD 15.90 billion by 2025.
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The market was valued at USD 8.67 billion in 2016 and is projected to reach grow at a CAGR of 6.97 percent from 2017 to 2025. "Demand for dental implants is steadily increasing as the procedure offers a perfect solution for artificial teeth," said Beato.
According to National Institute of Dental and Craniofacial Research, the geriatric population, composed of those aged 65 years and above, have an average of 18.9 remaining teeth, in turn creating a highly lucrative market for dental implants. In 2015, dental implants accounted for over 15% share of global dental device market revenue.
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.
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.
Asia Pacific is expected to register fastest CAGR between 2016 and 2024. Asia Pacific market growth is primarily driven by increasing number of dental implants procedure in China, India, and Japan. India dental implants market is expected to register highest regional CAGR over the forecast period. There are over 5,000 dental laboratories with around 300 dental institutes and 200,000 dentists in India. Increasing growing consumer base along with better economic growth is expected to create a lucrative market opportunity for industry players.
SOURCE: Press Advantage [Link]
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