Dental Imaging Equipment Market to Grow at a CAGR of 6.8% through 2024
Increase in the number of cosmetic dental surgeries across the world is expected to supplement the demand for enhanced dental imaging equipment. Valued at US$ 2,088.2 Mn in 2015, the global market for dental imaging equipment is expected to surge at a y-o-y growth rate of 5.1% and reach US$ 2,194.7 Mn in 2016. The high prevalence of dental ailments, such as gingivitis, tooth decay, and dry mouth in Europe, North America and Asia Pacific will continue to be an influencing factor for the growth of the dental imaging equipment market. Increasing awareness of dental hygiene is also a key driver fuelling the demand for advanced dental imaging apparatus.
Lack of skilled professionals and lower lifespan of accessories used in such equipment are anticipated to restrain the global expansion and hamper the growth opportunities for the dental imaging equipment market.
By product-type, extraoral X-ray system will continue to dominate the market; however, the cone-beam computed tomography (CBCT) imaging product is likely to register rapid growth in terms of value and reach US$ 395.7 Mn in 2016.
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By end-use, dental clinics and ambulatory surgical centres will witness higher adoption of dental imaging equipment in 2016 and beyond. In terms of market revenue, the independent dental clinics are expected to grow exponentially and contribute US$ 1,480.5 Mn in the global market. Forensic laboratories and hospitals are also anticipated to be prominent end-users of dental imaging equipment, owing to the pathological and surgical use of dental imaging devices.
Owing to the high adoption of CBCT imaging products in the U.S., North America will continue to remain the largest market for dental imaging equipment globally. Europe and APEJ regions will jointly account for over 40% revenue share in 2016.
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The key players in the global dental imaging equipment market include Acteon Group, Planmeca Oy, Danaher Corporation, Carestream Health, VAtech Co. Ltd., and Dentsply Sirona, among others. Danaher Corporation is expected to be the utmost dominating company in the global market, owing to the company’s flagship product range of advanced CBCT equipment.
Long-term Outlook: The global dental imaging equipment market is projected to expand at a moderate CAGR of 6.8% during the forecast period 2016-2024. By the end of the forecast period, the global market for dental imaging equipment is estimated to reach market value of US$ 3,712.7 Mn.
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