(PharmaNewsWire.Com, September 01, 2020 ) Rapid growth in the geriatric population, increasing number of dentists and dental practices, and increasing dental expenditure along with an increase in disposable incomes. However, the limited reimbursement for dental procedures may hinder the growth of this market to a certain extent.
The global endodontics market is estimated to reach USD 1.61 Billion by 2022 from USD 1.26 Billion in 2017, at a CAGR of 5.1% during the forecast period of 2017 to 2022.
Based on product, the market is segmented into consumables and instruments. The consumables segment accounted for the largest share of the market in 2016, and is expected to grow at the fastest CAGR during the forecast period. The large share and high growth of this segment can primarily be attributed to the increasing number of root canal procedures worldwide.
By consumable type, the endodontics market is segmented into the shaping & cleaning, access preparation, and obturation. The shaping & cleaning segment accounted for the largest share of the endodontic consumables market in 2016 and it is also is expected to grow at highest CAGR during the forecast period. This is mainly due to the increasing prevalence of dental caries and rising number of root canal procedures that require these consumables.
Geographical Region Covered
Geographically, Europe represented the largest regional market in 2016, followed by North America. Although, Europe will continue to dominate the global endodontics market during the forecast period, the Asia Pacific (APAC) region is expected to be the fastest-growing geographic market in the coming years. Growth in this region is driven by the rising incidence of periodontal diseases, increasing disposable incomes in emerging APAC countries, growing awareness on dental hygiene, and increasing number of dental practitioners in this region.
The unfavorable reimbursement scenario for dental procedures is an important factor expected to restrain the growth of this market to a certain extent. Furthermore, the shortage of dental professionals during the forecast period presents a major challenge for the growth of the global endodontics market.
Major players in this market are continuously focusing on securing higher market shares through product launches, expansions, agreements, partnerships, and acquisitions. The prominent players in the endodontics market are DENTSPLY SIRONA (US), Danaher Corporation (US), Ivoclar Vivadent (Liechtenstein), Ultradent Products (US), Septodont Holding (France), FKG Dentaire (Switzerland), Brasseler USA (US), MICRO-MEGA (France), DiaDent Group International (Canada), MANI (Japan), COLTENE Holding (Switzerland), and VOCO (Germany).
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