In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSThe global oral health monitors market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The rising incidence of dental diseases, and the awareness related to oral hygiene are the factors which are estimated to drive the growth of the oral health monitors market. The launch of innovative products is expected to boost the demand for oral care products in the coming years. Untreated oral disease is a major concern worldwide, affecting more than 50% of the global population. Periodontal diseases and dental caries are the key causes of the loss of natural teeth. According to the Centre for Disease Control and Prevention (CDC), in the U.S., one in every five adults aged 65 or older have already lost their teeth. Moreover, 53.8% of the total population aged 12–19 years, suffer from dental problems. The increasing prevalence of dental problems is bolstering the demand for oral health monitoring products, which, is expected to boost the market growth. For instance, an electric toothbrush can be transformed into a smart device that can provide dental professionals, patients, and insurers with insights into a patient's brushing routine. Such continuous technological advances are expected to provide lucrative growth opportunities for the players in the electric toothbrush market. Moreover, the increasing awareness of maintaining good oral health is expected to fuel the electric toothbrush product demand.
The market is segmented based on product, into toothbrush monitors, tooth sensors, and others, out of which, the toothbrush monitors segment is anticipated to grab the largest share by the end of 2022 on account of higher positive diagnosis rates and better efficiency than tooth sensors. Furthermore, the segment is expected to grow during the forecast period backed by the rising feasibility of using toothbrush monitors among the customers. Moreover, the tooth sensors segment is also projected to garner notable share during the forecast period owing to the growing technological advancements and increasing adoption of innovative products in the oral care market.
On the basis of distribution channel, the e-commerce segment is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the increasing usage of smartphones, high internet penetration, and growing reliability on e-commerce services globally. CLICK TO DOWNLOAD SAMPLE REPORT
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.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period, owing to the increasing awareness about oral hygiene and the growing technological advancements in toothbrush technology in the region.
The market in North America is evaluated to occupy the largest share in terms of revenue during the forecast period, owing to presence of high number of small/private dental clinics with dental dispensaries and high adoption of innovative products such as toothbrush monitors, tooth sensors and, others in the region. As of 2020, there are more than 200,000 dentists working in the United States. Moreover, over 45% of the population between 2 to 19 years has cavities, or other dental problems. The growing number of dentists, and dental and orthodontic clinics in the region especially in the United States, along with the growing research and developments activities regarding oral care is estimated to boost the market growth in the region.
The global oral health monitors market is further classified on the basis of region as follows:
Our in-depth analysis of the global oral health monitors market includes the following segments:
The global oral health monitors market consists of several established players from the oral health industry, including players such as 3M, Colgate-Palmolive Company, Kolibree SAS, Koninklijke Philips N.V., Sunstar Suisse S.A., Perrigo Company plc, Church & Dwight Co., Inc., GlaxoSmithKline plc., The Procter & Gamble Company, and Johnson & Johnson Services, Inc. among others. Moreover, the market is also witnessing participation from several small and medium size players with innovative oral health monitoring products, such as Truthbrush from Candibell Inc., Beam Brush from Beam Technologies Inc., Toothscan from Tesla Studios Ltd., and DM ScanBox from Dental Monitoring SAS among others. Further, several other players are working towards the development of advanced oral health monitoring products, including players such as Lura Health, among others.
FREQUENTLY ASKED QUESTIONS
Growing awareness about oral hygiene and rising incidence of dental diseases are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
Competitive pricing pressure faced by prominent players is estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities over the forecast period owing to the increasing awareness about oral hygiene in the region.
The major players dominating the oral health monitors market are 3M, Kolibree SAS, Koninklijke Philips N.V., GlaxoSmithKline plc., The Procter & Gamble Company, Johnson & Johnson Services, Inc., and others.
The company profiles are selected on the basis of 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 product, distribution channel, and region.
The e-commerce segment is anticipated to hold the largest market share over the forecast period owing to the growing internet penetration and growing number of smartphone users.
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