Market Trends of Asia-Pacific Dental Equipment Industry
This section covers the major market trends shaping the APAC Dental Equipment Market according to our research experts:
Prosthodontic Equipment is Expected to Hold a Significant Market Share in the Over The Forecast period
In the treatment segment of the market, prosthodontic equipment is anticipated to hold a significant market share during the forecast period. As prosthodontic dentistry has numerous count of tools that are used for dental corrections, there is a broad application of prosthodontic equipment.
Moreover, the growing number of investments and agreements in dental devices contributes to the market's growth. For instance, in August 2021, the Government of Japan invested approximately USD 9.1 million (100 million JPY) in the Government of Samoa through its Economic Social Development Programme (ESDP) to improve its healthcare system. The investments are expected to create opportunities for the expansion of the prosthodontic segment to more markets in the region.
Due to growing socioeconomic factors, many people can afford these procedures. Moreover, the number of dentists is also growing in Asia-Pacific to meet the increasing demand for dental procedures. According to the Ministry of Health and Welfare of South Korea updates from 2022, there were 64 dentists per 10,000 inhabitants in South Korea. The ratio of dentists to inhabitants has been slowly but steadily increasing over the past years. It has increased by around 33% in the last few years. Owing to these factors, the segment is further expected to increase in the future as well.
Thus, due to the above-mentioned factors, such as rising product launches and investments by key players in the prosthodontic segment, it is anticipated to witness significant growth over the forecast period.
China is Expected to Hold a Significant Market Share Over The Forecast period
China accounted for a large share of the market due to factors such as the increasing prevalence of dental diseases; wide acceptance of technological advancements in dental equipment, like lasers, intra-oral cameras, digital radiography, and CAD/CAM systems; continued favorable demographic trends; and heightened consumer awareness of the importance of oral hygiene to overall health.
The research study published in International Dental Journal in October 2021 stated that dental caries and periodontal disease were frequent and common in Jiangsu, China, and oral diseases continued to be a major problem for residents in China. Thus, due to the high prevalence of dental disorders in the country, the demand for dental equipment is expected to increase during the study period.
The key strategies adopted by major players, such as mergers, acquisitions, partnerships, investments, and technological innovation, among others, will lead to the lucrative growth of the market. For instance, in March 2021, The Straumann Group signed an investment agreement with the Shanghai Xin Zhuang Industrial Park (SHXIP) to establish its first Campus in China comprising a manufacturing, education, and innovation center at one site. With an investment of up to USD 188.2 million (CNY 1.2 billion) by 2029, the China Campus will provide products from the Group's implant and orthodontics portfolio for China, thereby improving the accessibility of end users to dental equipment and contributing to the market growth.
Additionally, in May 2021, DeepCare, an artificial intelligence dental care support company, formed a strategic alliance with CareCapital, an investment firm specializing in the dental care industry. This investment will help DeepCare develop modules for implants and other areas in dentistry. Thus, adopting technology in the country for dental equipment will drive the market.
Thus, owing to the increased product launches and high prevalence of dental diseases, the market is expected to project growth of the market.
