by Market Overview:
Dentures are dental-bridges made using acrylic plastic, ceramic, or other materials that are fitted to replace missing teeth. They are beneficial for elderly and edentulous population as they help restoring function and aesthetics by improving speech, chewing ability, and self-esteem of individuals.
Market key trends:
One of the major trends positively impacting the growth of dentures market is growing geriatric population worldwide. As per United Nations report, the number of people aged 60 years or above is expected to reach 2.1 billion by 2050 from 1.1 billion in 2023. Older population is more prone to tooth loss due to periodontal diseases or other dental problems, hence demanding dental solutions like dentures. Additionally, increasing awareness about oral care, growing dental cosmetic industry, and rising disposable incomes in emerging nations is further fueling adoption of dentures for better quality of life and aesthetics. Introduction of new biomaterials, digital dentistry solutions and advanced denture manufacturing processes is also contributing to market growth by improving comfort, color matching, and functionality of dentures.
Porter’s Analysis
Threat of new entrants: Low requirement for technology and capital to enter dentures market. However, established brands have strong brand image and customer loyalty.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes like dental implants. Buyers can easily switch to substitutes.
Bargaining power of suppliers: Large number of raw material suppliers for acrylics, metals, etc. gives suppliers low bargaining power.
Threat of new substitutes: Threat from dental implants is high as it provides better aesthetics and functionality compared to dentures.
Competitive rivalry: Intense competition among existing players due to low product differentiation.
SWOT Analysis
Strengths: Convenience of dentures, affordable cost compared to other solutions, increasing edentulous population drives demand.
Weaknesses: Issues related to poor denture stability, imperfect fit causing discomfort, requires regular maintenance.
Opportunities: Growth in medical tourism, rising awareness in emerging markets, new technological advancements.
Threats: Risk of jawbone resorption, preference shift towards dental implants, stringent regulations.
Key Takeaways
The Global Dentures Market Demand is expected to witness high growth at a CAGR of 6.5% over the forecast period due to increasing prevalence of tooth loss among geriatric population and rising medical tourism in developing nations.
The Asia Pacific region dominates the global dentures market and is expected to grow at the fastest pace due to rising edentulous population, increasing healthcare expenditure, and growing medical tourism in the region.
Key players operating in the dentures market are Dentsply Sirona Inc., Ivoclar Vivadent Ag, GC America Inc., Kulzer GmbH (Mitsui Chemicals, Inc.), Modern Dental Group Limited, COLTENE Group, VITA Zahnfabrik, Amann Girrbach AG, Formlabs, DIO Corporation, Shofu Inc., and Lang Dental Manufacturing Company, Inc. Major players are focusing on new product launches and geographic expansion to consolidate their market presence.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
