Rising Demand for Cosmetic Dentistry is driving the market for Restorative Dentistry over the forecast period.
According to a new market research study titled ‘Restorative Dentistry Market - Global Analysis and Forecasts by Product and End User. The Global Restorative Dentistry Market is expected to reach US$ 28,228.9 Mn in 2027 from US$ 16,337.5 Mn in 2018. The market is estimated to grow with a CAGR of 6.5% from 2019-2027. The report highlights the trends prevalent in the global restorative dentistry market and the factors driving the market along with those that act as deterrents to its growth.
The restorative dentistry market by product is segmented into restorative materials, implants, prosthetics, and restorative equipment. In 2018, the restorative materials segment held the largest market share of 39.7% of the Restorative Dentistry market, by product. This segment is also expected to dominate the market in 2027 owing to its cost-effective, high-performance solutions and often are used as a first preference by dentists, due to which the segment accounts for a maximum share. Moreover, the restorative material segment is anticipated to witness the significant growth rate of 7.5% during the forecast period, 2019 to 2027 owing to cost-effective, high-performance solutions and often are used as the first preference by dentists.
Key factors driving the market are increasing the prevalence of tooth loss, a growing number of dental practices, increasing demand for cosmetic dentistry, and technological developments in the restorative dentistry. However, limited reimbursement available for dental procedures and high costs of restorative materials is likely to hamper the market growth.
Some of the prominent players operating in restorative dentistry market are, Dentsply Sirona Inc., Danaher Corporation, 3M, Ivoclar Vivadent AG, Ultradent Products, Inc. Institut Straumann AG, Zimmer Biomet Holdings, Inc., GC Corporation, Mitsui Chemicals, Inc., Voco Gmbh, Brasseler USA and DiaDent Group International. The market players are focused on bringing new and innovative products to sustain their position in the market. For instance, in April 2019, 3M launched 3M Filtek Universal Restorative that offers a modernized approach to anterior and posterior restorations, with a simplified shading process and advanced composite technology to provide strong and esthetic results. The developments performed by the companies are helping the market to grow in the coming years.
Source: The Insight Partners Analysis