The global dental implants market is expected to progress at a CAGR of 7.9% within a forecast period from 2016 to 2024 in terms of revenue, according to a report released by Transparency Market Research.
Revenue was expected to reach $4.46 billion by the end of 2016 and $8.18 billion by the end of 2024, the report says.
Institut Straumann, Danaher Corporation, and Dentsply Sirona held 53% of the overall market value for the global dental implants market in 2015, pointing to a largely consolidated market, according to the report, which found that a very small percentage was taken up by regional players; a majority were localized ones present in the emerging economies of Asia Pacific.
“The market held a high degree of rivalry among players,” a release on Transparency Market Research’s website says. “There is a strong presence of all globally prominent players in key regions, as well as a large number of localized businesses in emerging economies that are vying for a greater share of the regional market. Global players, on the other hand, are trying to expand their business by undertaking expansion activities in the form of mergers and acquisitions and long term partnerships.”
The report indicates that new entrants are not expected to pose much of a threat in the coming years, largely as a result of the large capital required for installation, and the costs associated with regulatory compliance and research and development efforts.
Growing amounts of disposable income among patients are driving this market, the report says, allowing them to avail better-quality treatments and dental implants.
“This is especially applicable to the emerging economies of the world, where global players steadily making their foray due to the growth in demand for premium quality products and treatments,” it says. “The global dental implants market is also being driven by the growing innovation and the advanced use of technologies such as CAD/CAM to implement better implants.”
High costs and reimbursement scarcity continue to disturb the demand for dental implants, the report says.
“Although a large number of dental implants are meant to be permanent or long-term, they are still not nearly as affordable as a large contingent of patients would like them to be,” it says. “The high costs of several types of dental implants is considered to be the leading restraint acting against the overall growth of the global dental implants market. Complicating matters is the overall lack of insurance coverage that stretches into dental work. With a very low number of reimbursement policies surrounding dental implants, patients are consistently deterred from availing advanced treatments being introduced in the global dental implants market.”