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.
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The global dental laboratory handpiece market is further classified on the basis of region as follows:
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.
Our in-depth analysis of the global dental laboratory handpiece market includes the following segments:
May, 2020: TKD to launch high-speed turbines equipped with an effective anti-retraction valve, which can drastically reduce the risk of COVID-19 transmission. The design stops cross-contamination by avoiding fluid and aerosol backflow from the oral cavity into the instrument.
March, 2019: TeKne Dental srl launched a new nucleus LED high-performance micro motor for Endodontic procedures.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The growing demand for dental equipment backed by growing prevalence of oral diseases is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2030.
Ans: 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.
Ans: 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.
Ans: 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.
Ans: The market is segmented by type, end-user, and by region.
Ans: The dental clinic segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Ans: Lack of enough number of dentist in underdeveloped countries is estimated to hamper the market growth.