Artificial Intelligence driven Marketing Communications
The dental implants and prosthetics market is projected to reach USD 13,013.4 million by 2023 from USD 9,506.3 million in 2018, at a CAGR of 6.5% during the forecast period. Factors, such as the rising incidence of dental diseases, the increasing demand for cosmetic dentistry, growing dental tourism in emerging markets, and the increasing disposable income in developing countries, are expected to drive market growth during the forecast period. The low penetration rate of dental implants in developing countries and increasing investments in CAD/CAM technologies are also expected to present growth opportunities for market players.
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Low penetration rate of dental implants in developing countries
Their high price leads to very low penetration of dental implants in the less-developed parts of the world and even in certain developed countries such as the UK. However, with the growing number of clinics in these regions and availability of quality dental services at relatively lower costs, the acceptance of dental implants is expected to rise in the near future. The dental implants markets in the UK and France are also expected to grow due to the greater focus on cosmetic dentistry.
However, advanced aesthetic solutions in restorative dentistry have limited acceptance in countries such as India, Brazil, and Russia. These countries require extensive promotional and awareness campaigns, for both dentists and consumers, to ensure product visibility and increased acceptance. Hence, Asian and Latin American countries and certain European countries offer significant growth opportunities for the dental implants market. Knowing the potential in these regions, most market players are strategically increasing their presence in various developing countries, by opening new subsidiaries, collaborating with various dental product distributors and dental universities, and collaborating with the local players operating in the dental implants and prosthetics market.
Increasing investments in CAD/CAM technologies
The dental industry is embracing the computer-aided design (CAD)/computer-aided manufacturing (CAM) due to the greater precision these technologies offer for dental restoration. These technologies are used for developing milled crowns and bridges and the fabricated abutments used in dental implants. The use of CAD/CAM has also reduced the need to wear temporary bridges/crowns during the course of treatment and it has curtailed the number of doctor visits, thereby decreasing the total cost of dental restoration.
Although most prosthetic elements are still manufactured manually, the use of CAD/CAM prosthetic elements is rising due to the advantages of CAD/CAM over conventional technologies. These technologies have significant importance in customizing dental prosthetics. This shift toward digitalization encourages dental product manufacturers to invest more in CAD/CAM and to create future opportunities for these players.
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