Market Trends of Chile Dental Devices Industry
This section covers the major market trends shaping the Chile Dental Devices Market according to our research experts:
Prosthodontics Segment May Register a High CAGR in the Market During the Forecast Period
The prosthodontics segment is expected to witness significant growth in the Chilean dental devices market over the forecast period due to the higher adoption of prosthetics and the presence of a well-established healthcare system. As prosthodontic dentistry has a wide range of tools used for dental corrections, there is a huge application of prosthodontic equipment.
In addition, according to the OECD Economic Surveys 2021, Chile has a mixed healthcare system, with health coverage provided either by the state-funded National Health Fund or by FONASA, which covers 78% of the population, and 22% are enrolled with private insurers (ISAPRE). The plans for dental healthcare coverage in the ISAPRE-insured population vary substantially, with private health facilities receiving the majority of the attention. Thus, the health coverage in the region, which includes dental services, is expected to drive the segment in the future.
As per the World Population Dashboard of UNFPA 2022, the population aged 65 years and older in Chile accounted for 13% of the total population. Hence, the significant burden of old age is expected to drive the segment as the old age population is more prone to dental caries and tooth loss.
Dental Implants Under Dental Consumables Segment May Hold a Significant Share in the Market During the Forecast Period
Dental implant surgery involves replacing tooth roots with metal, screw-like posts and missing or damaged teeth with artificial teeth that closely resemble real teeth in appearance and function. The segment is expected to grow due to a surge in the adult population in Chile and the availability of dental insurance schemes. These factors are also increasing the demand for dental implants in the country.
For instance, the surging geriatric population is also contributing to the market's growth. For instance, according to the statistics published by the World Bank Population Prospects 2022, the population aged 65 and above in Chile was estimated at 2,471,958 compared to 2,392,386 in the previous year. Thus, the rising geriatric population in the country is expected to increase the demand for dental implants as this population group is more vulnerable to age-related dental conditions, such as root or coronal caries and periodontitis.
As per the report published by Dentaly.org in March 2022, the annual cap for the Delta Dental Chile plan is USD 2,000. There are no waiting periods for any services under this dental insurance plan, including costly services like implants. Thus, with such dental insurance plans, the demand for dental implants is expected to grow and boost the market in the future.
