The global dental services market size is expected to reach USD 554.5 billion by 2028, based on a new report by Grand View Research, Inc.
It is expected to expand at a CAGR of 6.4% from 2021 to 2028.
The marketing efforts to commercialize dental practices including education camps and online campaigns are contributing to the adoption of dental services.
The rapid urbanization around the world, constant economic growth, and the rising disposable income of people have contributed to the relatively steady growth of the market. In addition, per capita, consumption expenditure on healthcare services is likely to significantly increase in the coming years.
Key Insights & Findings:
- Based on type, the dental implants segment dominated the market in terms of revenue in 2020 as they provide patients with functional options for teeth replacement procedures. With the R&D in this field, dental implants are available with better biomaterials, improved designs, and surface modifications
- The cosmetic dentistry type segment is likely to witness the fastest growth from 2021 to 2028 owing to the rising adoption of teeth appearance improvement procedures, such as teeth whitening, crowns, inlays and onlays, and veneers
- Based on end-use, the dental clinic's segment held the largest share in terms of revenue in 2020 and is expected to witness the fastest growth over the forecast period. The majority of patients visit private practice dental clinics due to the availability of specialists, cost efficiency, and advanced technology.
- In 2020, North America dominated the market in terms of revenue owing to factors including the presence of independent dental clinics, growing R&D activities in dentistry, and rising disposable income. The increasing government funding for dental programs is likely to contribute to the market growth.
- The Asia Pacific is anticipated to witness the fastest growth from 2021 to 2028 due to the growing number of dental clinics and rising awareness about oral care. The healthcare infrastructure in the Asia Pacific is expanding with advanced technology and equipment.
Source: PR Newswire