PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1422082
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1422082
Global restorative dentistry market size was valued at USD 15.08 billion in 2023, expected to reach USD 25.9 billion in 2031, with a CAGR of 6.99% for the forecast period between 2024 and 2031F. Various pivotal factors significantly influence the global restorative dentistry market. These factors include ageing global population, a notable increase in dental disorders, a heightened consciousness about oral health, ongoing advancements in dental technology, enhanced availability of dental care services, innovations in dental imaging, rising income in diverse regions, a reinforced emphasis on preventive dentistry, burgeoning dental tourism industry, and expanding coverage of dental procedures by insurance.
The global restorative dentistry market is experiencing significant growth due to many influential factors. Notably, the aging global population is a primary driver, as shifting demographics lead to a natural increase in dental problems, including tooth decay, gum disease, and tooth loss. The demographic shift has created a growing demand for restorative dental procedures, especially among the elderly who require interventions like dental implants, dentures, and crowns. There has been a remarkable rise in dental disorders worldwide, attributed to dietary habits, lifestyle choices, and inadequate dental care. The surge has heightened awareness about oral health and the importance of maintaining an aesthetically pleasing smile, prompting many individuals to seek restorative dental treatments, boosting the global restorative dentistry market. Technological advancements have revolutionized the global restorative dentistry market, with continuous research and development improving dental materials and techniques.
Global restorative dentistry market is influenced by improved access to dental care services, especially in emerging markets, along with rising disposable incomes in various regions, which has made restorative dentistry more accessible and affordable. Preventive dentistry, emphasizing early detection and treatment of dental issues, has reduced the need for extensive restorative procedures, yet there remains substantial demand, driven by an aging population and lifestyle-related dental problems. Additionally, the flourishing dental tourism industry and expanding insurance coverage for dental procedures have contributed to global restorative dentistry market expansion.
The aging global population has a significant role in boosting the global restorative dentistry market. Across the globe, individuals are enjoying longer lifespans. Presently, most people can anticipate living well into their sixties and even beyond. The demographic trend is universal, with every country on the planet witnessing an expansion in the number and the proportion of older individuals within their populations. Looking ahead 2030, approximately one in every six people worldwide will have reached the age of 60 or older, a significant increase from the statistics of 2020 when this group amounted to 1 billion.
By 2050, the global population of individuals aged 60 and above will double to a staggering 2.1 billion. Furthermore, there's a substantial anticipation that the number of those aged 80 years or older will triple from 2020 to 2050, reaching a substantial 426 million. While the demographic transformation towards older age groups, commonly referred to as population aging, initially took root in high-income countries, such as Japan, where already 30% of the population is over 60 years old, it is increasingly becoming a notable trend in low-and middle-income nations. 2050 is expected to significantly shift, with two-thirds of the world's population aged 60 or older residing in these low and middle-income countries.
Technological advancements are at the forefront of propelling the global restorative dentistry market to new heights. Innovative innovations are reshaping the field, improving the efficiency, precision, and patient-friendliness of dental procedures. A prime example of the transformation is evident in digital imaging and 3D printing, which has revolutionized the design and production of dental restorations, resulting in superior outcomes. Furthermore, there has been a continual evolution of dental materials and techniques, ultimately enhancing the durability and aesthetics of restorative treatments. These technological breakthroughs benefit patients by reducing discomfort and treatment durations and equip dental practitioners with more effective tools, contributing significantly to the overall expansion and success of the restorative dentistry market. Prominent corporations are actively engaged in the creation of innovative technologies to foster market growth.
For example, in February 2023, Dr. James Tsoi, an Associate Professor specializing in Dental Materials Science at the University of Hong Kong's Faculty of Dentistry, led a research team in collaboration with colleagues from Wuhan University, China, and Drexel University, the United States. Their study focused on the examination of novel elliptical frustums made of fiber-reinforced composite materials and involved a comparison of these materials with human dentin. The research entailed a comprehensive assessment of these materials, encompassing mechanical strength, elastic modulus, indentation hardness, and fatigue behavior.
Governments worldwide are increasingly recognizing the significance of oral health and are launching various initiatives to promote it. These efforts encompass campaigns, policies, and programs aimed at raising awareness, improving access to dental care, and emphasizing preventive measures. By prioritizing oral health, governments contribute to a broader understanding of the importance of dental care, ultimately driving the demand for restorative dentistry services. Moreover, international organizations, such as the World Health Organization (WHO), are pivotal in advocating for oral health and promoting best practices globally. These collective endeavors enhance public well-being and contribute to the growth of the global restorative dentistry market, as they underscore the importance of dental treatments and maintenance. The significant advancements in global oral health arena in recent years offer a genuine chance to tackle the oral health issues at hand indirectly boosting the global restorative dentistry market. The transformative journey began in January 2021 with the introduction of FDI World Dental Federation's (FDI) Vision 2030: Delivering Optimal Oral Health for All. The initiative will back up emerging technologies that improve patient care through the integration of artificial intelligence (AI). It involves equipping healthcare providers with digital tools and devices for a variety of treatment procedures and offering long-lasting and secure alternative restorative materials.
The global restorative dentistry market is witnessing a remarkable upswing in the demand for Implant-Supported Dentures. The heightened interest is directly linked to the substantial benefits these dentures bring. Implant-supported dentures offer a secure and comfortable solution for individuals with tooth loss. Beyond the evident improvements in oral function and appearance, they positively impact overall quality of life. Consequently, patients are increasingly choosing it for their restorative dental needs. The surge in demand plays a pivotal role in driving market expansion and underscores the significance of inventive solutions that cater to the ever evolving and diverse requirements of patients seeking effective restorative dental treatments. As an example, SprintRay Inc., a prominent player in the realm of digital dentistry and 3D printing solutions for dental applications, unveiled a groundbreaking achievement on October 10, 2023. They introduced OnX Tough 2, the pioneer and sole 3D printing resin to secure clearance from the US Food and Drug Administration (FDA) under 510 (k) guidelines to produce fixed, implant-supported denture prosthetics. The development marks a significant milestone for the dental sector, underlining the company's innovative contribution to the industry.
The global restorative dentistry market is experiencing a substantial boost in response to the rising demand for composite resin materials. Both dental practitioners and patients increasingly prefer these materials due to their versatile applications in restorative procedures. Composite resins offer a natural appearance, making them an attractive choice for dental fillings, crowns, and veneers. Their aesthetic qualities, coupled with advances in material technology, have made them a sought-after solution for dental restorations. Moreover, composite resins have the advantage of being minimally invasive, conserving more of the natural tooth structure. The growing demand reflects a shift towards patient-centric, aesthetically pleasing, and minimally invasive dental treatments, driving the overall growth of global restorative dentistry market.
For example, Formlabs, a 3D printing technology developer and manufacturer, unveiled a range of elastomeric BioMed materials on October 10, 2023. The materials include BioMed Elastic 50A Resin, BioMed Flex 80A Resin, and IBT Flex Resin, intending to simplify workflows and cut down on labor time when producing flexible, biocompatible components for dental and medical use. Notably, IBT Flex Resin stands out for its tear-resistant and transparent attributes, making it particularly suitable for various dental applications, such as the creation of 3D printed direct composite restoration guides and indirect bonding trays.
The future of the global restorative dentistry market holds great potential due to several key factors. As the global population continues to age, the prevalence of dental disorders such as tooth decay and tooth loss is on the rise. The demographic shift is driving the demand for restorative dental procedures. Furthermore, there is an increasing emphasis on oral health and aesthetics, with individuals seeking restorative treatments to improve their overall oral well-being and appearance. Technological advancements are playing a pivotal role in the market's growth. Innovations in materials and techniques have made restorative procedures more effective, precise, and long-lasting, which appeals to both patients and practitioners. Improved access to dental care services, rising disposable incomes in various regions, and expanding insurance coverage contribute to the market expansion. As a result, the future of the global restorative dentistry market looks promising, with a growing need for advanced solutions and a greater focus on oral health and aesthetics. These trends underscore the continued importance of restorative dentistry in comprehensive dental care.
In the global restorative dentistry market, a discernible trend is the proliferation of strategic partnerships among companies. These collaborations are driven by a multitude of motives, primarily aimed at mutual growth and market advantage. Companies often seek to harness complementary strengths, such as combining dental materials manufacturer with a dental equipment provider, to offer comprehensive solutions to practitioners. Such partnerships can lead to more efficient research and development efforts, resulting in innovative products and services.
Furthermore, by joining forces, companies can access new markets and customer segments, creating a win-win scenario that benefits the partnering firms and contributes to the overall expansion and diversification of the restorative dentistry market. For instance, in June 2023, SUN MEDICAL CO., LTD. and Mitsui Chemicals, Inc. revealed that Shofu Dental Brasil Comercio de Produtos Odontologicos Ltda., a sales subsidiary of SHOFU, introduced SUN MEDICAL's Super-Bond dental adhesive in the Brazilian market. Super-Bond, designed as a dental adhesive, incorporates 4-methacryloxyethyl trimellitate anhydride (4-META) as a dispersion-aiding monomer and tributylborane (TBB) as a polymerization initiator.
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Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.