Wearable Oral Health Sensors Market Segmentation by Distribution Channel (Retail Pharmacy, Consumer Stores, E-Commerce, and Others); by Vertical (Healthcare, Sports, Consumer Electronics, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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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. Purchasing 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.
February 2020: KaVo Imaging released its brand new KaVo IXS sensor featuring size 1 and size 2 sensors. The device is claimed to be more durable, reliable and automated than several other sensor options available in the market.
The global wearable oral health sensors market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing prevalence of oral diseases, growing technological advancements associated with sensors in smart gadgets, and rising need for continuous oral health monitoring across the world. According to the Centre for Disease Control and Prevention (CDC), one in every five adults aged 65 or older in the United States have already lost their teeth. 53.8% of the total population aged between 12–19 years, suffer from a minor to severe type of dental problem. In addition to these, escalating growth of geriatric population globally and rise in healthcare spending by governments in developed nations are also expected to drive market growth in the forthcoming years. Furthermore, the advent of machine learning and internet of things (IoT) to develop effective medical appliances and growing demand for portable devices are projected to offer abundant growth opportunities the market in the near future.
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The market is segmented by vertical into healthcare, sports, consumer electronics, and others, out of which, the healthcare segment is anticipated to hold the largest share in the global wearable oral health sensors market on account of the growing levels of awareness regarding oral hygiene in developed and emerging economies, and rising trend of self-monitoring and diagnosis among people. Along with these, increasing usage of healthcare devices since the last few years is also assessed to boost the growth of the market segment by the end of 2030. Additionally, on the basis of distribution channel, the e-commerce segment is predicted to witness significant growth over the forecast period in view of the increase in penetration of the internet, growing use of smartphones and rising consumer reliability on e-commerce services worldwide.
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.
On the basis of geographical analysis, the global wearable oral health sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America is estimated to occupy the largest share over the forecast period on the back of the growing occurrence of dental disorders, high healthcare expenditure and strong presence of healthcare manufacturers in the region. As per the United States Centers for Medicare & Medicaid Services, the total healthcare spending of the country increased by 4.6 percent in 2019, reaching USD 3.8 trillion. The total health spending accounted to be 17.7 percent of the total GDP share of the US. Moreover, the market in Europe is also expected to grab a notable share in the market owing to the reducing cost of sensors, growing expansion of wireless technology and large number of elderly people in the region. Apart from these, rising consciousness among the people for fitness and easy availability of medical applications are also assessed to expand this region’s market in the near future.
The global wearable oral health sensors market is further classified on the basis of region as follows:
Our in-depth analysis of the global wearable oral health sensors market includes the following segments:
Ans: The major factors driving market growth are growing occurrence of oral diseases and increasing technological advancements with sensors in smart gadgets.
Ans: The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2030.
Ans: Technical difficulties associated with the hardware and software is estimated to hamper the market growth.
Ans: North America will provide more business opportunities for the market growth owing to the high healthcare expenditure and strong presence of healthcare manufacturers in the region.
Ans: The major players in the market are DENTSPLY SIRONA Inc., KaVo Dental GmbH, Carestream Dental LLC, Apteryx Imaging Inc., Danaher Corporation, 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 distribution channel, vertical, and by region.
Ans: The healthcare segment is anticipated to hold largest market size in value and is estimated to grow at a robust CAGR over the forecast period and display significant growth opportunities.
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