Cosmetic Dentistry Market: Current Analysis and Forecast (2021-2027)

Report Description

Cosmetic Dentistry Market was valued at US$ 20 billion in 2020 and is expected to grow at a CAGR of 7% over the forecast period (2021-2027). Nowadays, modern cosmetic dentistry gives a better smile, by treating stained, discolored, worn, chipped, broken, misaligned, misshapen teeth. Cosmetic dentistry is mainly divided into two specialties: orthodontics and prosthodontics. Orthodontics deals with the treatment of irregular and improper bites, which occur due to disproportionate tooth and jaw placement. Prosthodontics is concerned with the treatments like dental veneers, implants, or teeth whitening, which refers to the practice of rehabilitating and maintaining the health and appearance of teeth. The rise in the population opting for the improvement of dental aesthetics is intensifying the market growth. As per the American Academy of Cosmetic Dentistry (AACD) survey, 86 percent of the patients wanted to improve their dental aesthetics in 2017. Furthermore, the increase in geriatric population coupled with rising oral disorders, dental tourism, and development of technologically advanced solutions, and a rising number of dental laboratories investing in Computer-aided design (CAD) and Computer-aided manufacturing (CAM) technologies. For instance, in 2020, Align Technology acquired a software producer who’s a leading producer of open-architecture CAD/CAM software. This will further strengthen its dominant position within the U.S. digital dentistry market.

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Global Prevalence of Dental Caries (Tooth Decay)

Insights Presented in the Report

“Amongst Product, Dental systems & equipment segment holds the major share.”

Based on Product, the market is fragmented into Dental systems & equipment, Dental Implant, Dental Bridge & Crown, Orthodontic Braces, Denture, Dental Laser, Dental Handpiece, Bonding Agent, Dental Chair, CAD/CAM System, and Radiology Equipment. The Dental systems & equipment segment holds the largest share in 2020 and is expected to grow at lucrative during the forecasted period owing to a wide range of applications in the dental industry such as handpieces, dental chairs, and CAD/CAM technology in various cosmetic procedures. Nowadays, 3D Printing is mainly employed for the manufacturing of Dental Implants and its costs around 4.000 US$ for the Dental Implant Treatment.

“Amongst End-User, Dental Hospitals & Clinics segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on End-user, the market is fragmented into Dental Hospitals & Clinics, Dental Laboratories, and Other End Users (Research Institutes and Cosmetic Clinics). The Dental Hospitals & Clinics segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the rising number of dental clinics and hospitals all over the world, and the high adoption of advanced technologies by small as well large dental clinics and hospitals. As per the Indian Dental Association Report, the total Indian market for dental equipment and materials is estimated to be around US$90 million annually. The high number of Dental Clinics revisits also propels the market growth. For instance, as per the ADA report in February 2021, 90% of the patients reported that they had already been ready to go back to their dentist.

“North America signifies one of the largest markets and Europe is expected to be the fastest-growing markets of Cosmetic Dentistry market.”

For a better understanding of the market adoption of Cosmetic Dentistry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Cosmetic Dentistry market on account of the increasing geriatric population coupled with the rising prevalence of oral diseases, rising prevalence of tooth decay, technological developments in dental implants, and increase in the number of individuals opting for procedures involved in cosmetic dentistry. As per the American Dental Hygienists’ Association (ADHA), approximately 78% of all Americans will have at least one cavity by the time they reach age 17. Some of the major players operating in the market include Danaher Corporation, Align Technology Inc., Dentsply International, Inc., 3M Company, Zimmer Biomet Holding, Inc., Institut Straumann AG, Sirona Dental Systems, Inc., Biolase, Inc., Planmeca Oy, and A-dec Inc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Cosmetic Dentistry market were the three major steps undertaken to create and analyze the adoption of Cosmetic Dentistry for the different applications across major End-User such as Dental Hospitals & Clinics, Dental Laboratories, and Other End Users (Research Institutes and Cosmetic Clinics). Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Cosmetic Dentistry sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Cosmetic Dentistry through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Cosmetic Dentistry market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Product, End-User, and Region. Further country-level analyses were conducted to evaluate the overall adoption of Cosmetic Dentistry in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Cosmetic Dentistry. Further, we conducted factor analysis using dependent and independent variables such as the increase in geriatric population coupled with rising oral disorders.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Cosmetic Dentistry Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (USD) and the adoption rate of Cosmetic Dentistry across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Cosmetic Dentistry market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Cosmetic Dentistry market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Product, End-user, and Region of the Cosmetic Dentistry market.

Main Objective of the Cosmetic Dentistry market Study

The current & future market trends of Cosmetic Dentistry were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Cosmetic Dentistry in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of Product, End-user, and Region
• Define and analysis of the regulatory framework for the Cosmetic Dentistry industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Cosmetic Dentistry market for the major region
• Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
• Company profiles of the Cosmetic Dentistry market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry