A Bullish Dental Market Forecast
Executive Editor Daniel Alter, MSc, MDT, CDT | daniel.alter@broadcastmed.com
The restorative dentistry market has shown no signs of slowing down; to the contrary, it seems to be expanding, offering greater opportunities for dental laboratories to reap the benefits and participate in the bullish market. According to a recent report, the restorative dentistry market was estimated to be worth $5.6 billion in 2023 and is poised to reach $7.4 billion by 2028, growing at a CAGR of 5.5% in that time.1 Growth in this market can primarily be attributed to the development of technologically advanced solutions. Patient compliance has concurrently increased, with a sharp rise in the demand for cosmetic dentistry procedures. Adhesive dentistry is an area that has gained attention; this uses composite and resin materials to improve esthetics and strengthen teeth with minimal damage to tooth structures. As a result, the number of people opting for such procedures has increased.
The Chicago Dental Society Midwinter Meeting this past February certainly displayed the market's appetite for growth, and the energy and excitement were truly palpable. The technologies we utilize today offer greater levels of precision, stability, and ease of use, allowing dental professionals a greater ability to deliver consistent, repeatable, and scalable restorative dental devices to patients. These technologies further offer the dental laboratory community the ability to create more complex and sophisticated geometries in order to serve our patients in ways unimaginable just a few years ago. Similarly, the materials to which we have access have proven to significantly elevate the standard of care, and coupling this new generation of materials with new technologies provides results that truly push the envelope in ways inconceivable prior.
There are several drivers to these trends, including rising disposable incomes in developing demographic areas, lifestyle changes, the aging Baby Boomer population, and food habits; all create the need for better outcomes in biocompatibility, function, and esthetics. Following these trends, thinking outside the box, and positioning our dental laboratories to satisfy the needs of the market with engagement in robust technologies and materials will lead dental laboratories to tap into the bullish market of years to come. As laboratory owners and managers, it is advantageous to examine our dental products and services and align with the market's appetite in order to continuously grow and expand our dental laboratory's business.
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References
1. Restorative dentistry market worth $7.4 billion: Marketsandmarkets. PR Newswire. November 27, 2023. Accessed March 11, 2024. https://www.prnewswire.com/news-releases/restorative-dentistry-market-worth-7-4-billion--marketsandmarkets-301997796.html.
