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(Health-NewsWire.Net, July 16, 2020 ) The dental consumables market is projected to reach USD 38.7 billion by 2024 from USD 27.9 billion in 2019, at a CAGR of 6.8% during the forecast period. Growth in the dental consumables market can largely be attributed to factors such as the rising incidence of dental diseases, increasing demand for cosmetic dentistry, growing dental tourism, and the increasing disposable income in developing countries.
The global dental consumables market is a fragmented market with several large and small players operating in it. However, each product segment is dominated by a few key players that dominate the majority of the market. Straumann Holding AG (Switzerland), Danaher Corporation (US), and Dentsply Sirona (US) are the leading players in the dental implant and prosthetic consumables market. These players also dominate other important segments in the dental consumables market, such as the orthodontic consumables and restorative materials segments. Product launches and agreements & partnerships have been the primary growth strategies adopted by these players to strengthen their position in the market.
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Straumann is one of the major companies dominating the global dental consumables market in 2018. The company has a strong geographical footprint and has established its brand value across 100 countries through a comprehensive list of products it offers. The company invests a considerable share of its revenue in R&D to strengthen its product portfolio. It has also grown inorganically through strategic acquisitions and partnerships with other dental consumable manufacturers for entering and expanding into various geographies and strengthening its product portfolio. Straumann is expected to grow further in the coming years due to its rising focus on countries such as China, India, Argentina, Chile, and Colombia.
Danaher Corporation derives a majority of its revenue from the US. The company has been a part of a large number of strategic partnerships in order to strengthen its dental consumables business. Danaher focuses on inorganic growth strategies such as agreements and acquisitions, which enable it to further strengthen its market position. Since 1984, the company has acquired more than 400 companies based on this model. The company also has a major focus on the research and development of innovative products to provide efficient solutions to customers and maintain its market position.
Dentsply Sirona is one of the largest developers and manufacturers of professional dental products. The merger of DENTSPLY International and Sirona Dental Systems in 2016 is one of the most significant mergers in the dental industry. Dentsply Sirona has a strong portfolio of dental technologies, equipment, and consumables. The company’s major strengths lie in its brand name, wide product portfolio (which includes specialty products for restoration, endodontics, and orthodontics), and its strong presence across the globe. Currently, the company has a strong presence in the US and operates in around 120 countries across Europe, the Commonwealth of Independent States (CIS), Central and South America, the Middle East, and the Pacific Rim.
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