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Global endodontic supplies market: $800 million industry by 2018
Endodontic Supplies: A Global Strategic Business Report - a new market research report on 2014-03-14 13:09:03
The global Endodontic Supplies market is projected to reach US$798 million by 2018, driven by growing utilization of dental care services among aging baby boomers and greater emphasis on maintaining dental health for aesthetic and functional reasons among young adults.
Endodontics is a medical field with a promising future with growth attributed to the rising number of endodontic procedures and the increasing complexity of cases due to the world´s aging population. The market is also affected by the growing heterogeneity of endodontic patient population, whereby dentists are required to work with a wide range of challenging anatomical structures. All of these factors are spurring demand for advanced endodontic supplies. The development of innovative products and materials is expected to drive volume growth in Endodontic procedures. Material advancements have significantly influenced the Endodontics market, with obturation benefitting immensely from the advent of new materials. Gutta-percha remains the most widely used obturation material, while zinc oxide-eugenol and epoxy resin based cements are used as root canal sealers while calcium hydroxide is used for intra-canal medication. Biomaterials, comprising bioactive glass, mineral trioxide aggregate, and bioaggregate, constitute another focus area in the Endodontic Supplies market.
Global demand for dental supplies declined during the 2007-2009 recession period largely as a result of the decline in patient traffic and the subsequent fall in demand for supplies from dental labs. Economic conditions and the level of comfort and duration of procedures typically determine the number of Endodontic procedures carried out each year. Being elective in nature, these procedures are significantly affected by the discretionary spending levels of consumers. Lack of adequate reimbursement coverage also impacts patient demand for dental treatment procedures. The market however witnessed recovery aided by improving economic conditions, favorable demographic factors, focus on aesthetics, and availability of improved dental materials.
The United States represents the largest market worldwide. Growth in the country is led by recovering economic growth, growing base of aging baby boomer population, and pent-up demand for dental procedures. Developing regions such as Asia-Pacific and Latin America are expected to spearhead future growth, driven by low penetration of and untapped potential in dental services, expanding middle class population and rising awareness about dental care. Asia-Pacific is forecast to grow at a CAGR of 5.0% over the analysis period.
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