Global Dental Laboratory Handpiece Market Highlights over 2022 – 2030
The global dental laboratory handpiece market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing demand for dental equipment backed by rising number of dental clinics across the world. Dental lab handpiece is one of the most common equipment used in dental labs, majorly for heavy duty grinding. Along with this, the rising prevalence of oral disorders and issues, worldwide, are estimated to boost the market growth. The World Health Organization (WHO) estimated that 3.5 billion people suffer from oral diseases globally. Moreover, the report stated that an estimated 2.3 billion people suffer from dental caries in their permanent teeth, while more than 530 million children suffer from caries of primary teeth. Most of these issues are preventable. Furthermore, the rising oral health awareness amongst the people is further anticipated to boost the market growth.
Additionally, the increasing healthcare expenditure across the globe, is estimated to boost the market growth. According to the data by the WHO, in most high-income countries, dental treatment results in around 5% of total health expenditure annually. According to the data by the World Bank, USD 1,111.082 was spent per capita for healthcare globally, in 2018.
The market is segmented by type into high speed, low speed, and others, out of which, the high speed segment is anticipated to hold significant share in the global dental laboratory handpiece market over the forecast period on account of growing demand for high speed handpiece for grinding and other high-precision procedures. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Dental Laboratory Handpiece Market Regional Synopsis
On the basis of geographical analysis, the global dental laboratory handpiece market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing oral health awareness amongst the population, combined with improving healthcare facilities, and rising individual disposal income.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high prevalence of oral issues in the region, along with efficient healthcare sector. According to the data by the Center for Diseases Control and Prevention (CDC), in the U.S. over 64.9% adults visited a dentist at least once in 2019.
The global dental laboratory handpiece market is further classified on the basis of region as follows:
Our in-depth analysis of the global dental laboratory handpiece market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The growing demand for dental equipment backed by growing prevalence of oral diseases is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2030.
The major players in the market are TeKne Dental srl, MTI Dental, Dentflex, Saeyang Micro Tech Co. Ltd., MVK-line GmbH, Envista Holdings, Promident Llc, NOUVAG AG, Zubler Gerätebau GmbH, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-user, and by region.
The dental clinic segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Lack of enough number of dentist in underdeveloped countries is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period on the back of increasing prevalence of dental disorders in the region.
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