BCC Research, Wellesley, Mass, announced that its new report—Global Dental Markets: Furniture, Equipment, Materials and Supplies—shows that the global market for these dental markets is expected to grow to $55 billion by 2019, with a 5-year compound annual growth rate (CAGR) of 2.9%. Driven by newer technologies, dental equipment is the fastest growing segment of the industry, increasing at a CAGR of 4%.
Reconstructive and cosmetic materials, the largest segment in the professional dental market, are expected to reach $12 billion in 2019, reflecting a stable, 5-year CAGR of 1.8%. The high cost of materials and high demand for cosmetic services in all health segments will continue to significantly impact market size. This segment is anticipated to escalate as society continues to shift from a practical and necessity-based society to one increasingly concerned with personal dental esthetics.
The dental treatment materials and supplies market, the second-fastest-moving segment in the industry, is predicted to reach $8.8 billion and register a CAGR of 2.9% in 2019. A growing consumer awareness of dental health in terms of caries treatment and endodontic solutions, especially among a growing and aging population, will continue to influence its steady growth.
The dental equipment market is forecasted to reach a value of $7 billion in 2019, up from $5.6 billion in 2014, reflecting a 5-year CAGR of 4.4%. Growth is likely to be influenced by steady demand for professional dental services, primarily supported by an increasing life expectancy, a growing and aging population, and increasing consumer awareness of dental care and healthcare needs.