(MENAFN- America News Hour) The global market for dental equipment was valued at USD 6.05 Billion in 2016 and is projected to garner USD 9.5 Billion by the end of 2024 by expanding at a compound annual growth rate of 5.8% over the period 2017-2024. This can be attributed to rising demand for dental procedures due to increasing number of dental disorders all across the globe.
The dental equipment market has been segmented by end-user into hospitals, clinics and dental laboratories. Among these segments, the dental laboratories segment is expected to dominate the growth of global dental equipment market during the forecast period. This can be attributed to rising prevalence of dental conditions and their procedures. Factors such as these, combined with rising geriatric population are estimated to boom the dental equipment market by noteworthy revenue by the end of 2024.
In the regional segment, North America is anticipated to dominate the dental equipment market over the forecast period owing to increasing ageing population. Moreover, U.S. is expected to be the largest Dental Equipment Market in North America followed by Canada in the upcoming years. Increase in awareness for oral diseases is anticipated to drive the growth of dental equipment market in Europe in upcoming years. Further, Asia-Pacific is expected to record the fastest growth over the globe in dental equipment market due to adoption of innovative technology.
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Imaging and Radiology Reflects Significant Opportunities
Advancement in technology has led to the implementation of imaging and radiology in dental procedures. This factor is believed to supplement the growth of dental equipment market globally due to its precision. In addition, growing dental tourism, bad eating habits combined with growing dental problems in aging population is expected to benefit the expansion of dental equipment market in upcoming years. Further, the government initiatives for dental hygiene are also expected to drive the growth of the market over the forecast period.
However, factors such as limited medical insurance, costly medical procedures, lack of awareness and high equipment cost are likely to inhibit the growth of the dental equipment market in the near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
This report also provides the existing competitive scenario of some of the key players of the dental equipment market which includes company profiling ofStraumann, Sirona Dental Systems, Noble Biocare, Planmeca OY, 3M ESPE, Carestream Health Inc., Danaher, Biolase, A-dec Inc. and Midmark Corporation.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the dental equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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