Stainless steel crowns are custom-made caps that are placed over the tooth to restore its shape and size. They are commonly used in children's dentistry to cover and protect weak, damaged, or decayed teeth. Stainless steel crowns are durable and resistant to wear and damage from chewing. They also preserve the natural shape and alignment of teeth better than other options like dental fillings or extractions. The need for strong and long-lasting restorative solutions in pediatric dentistry is rising with increasing consumption of cariogenic foods and drinks among children.
The global Stainless Crowns Market is estimated to be valued at US$ 1.3 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
With growing awareness about oral hygiene and aesthetics of smile, demand for cosmetic and restorative dentistry is increasing. Stainless crowns blended perfectly with the color of natural tooth can restore tooth structure and protect remaining tooth structure as well as improve smile appearance. This increasing focus on dental aesthetics presents a major opportunity for manufacturers to offer customized aesthetic stainless crowns with variety of shades and shapes. Catering to the rising need for improved aesthetics in dentistry can help stainless crowns market gain wider acceptance going forward.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is medium as initial capital requirement and strong branding are required to gain customer acceptance in this matured market.
Bargaining power of buyers: The bargaining power of buyers is medium as customers have various product and supplier options available in the market.
Bargaining power of suppliers: The bargaining power of suppliers is medium as raw material availability from various suppliers helps balance out the supplier power.
Threat of new substitutes: The threat of new substitutes is low as stainless crowns are the widely accepted solution for restoration of decayed or badly shaped teeth.
Competitive rivalry: The rivalry in the established players is high.
SWOT Analysis
Strength: Stainless crowns have high durability and biocompatibility. They are corrosion resistant and offer better aesthetic look than amalgam fillings.
Weakness: Initial cost of stainless crowns is higher than other restorative options. Some patients may find the metal appearance less attractive.
Opportunity: Rising awareness about dental care and disposable income in emerging economies will drive the future growth. Technological advancements are helping improve cosmetic look and application techniques.
Threats: Alternatives like dental veneers and implants pose threat to certain extent. Economic slowdowns can impact discretionary spending on dental healthcare.
Key Takeaways
The Global Stainless Crowns Market Trend is expected to witness high growth during the forecast period of 2023 to 2030 supported by increasing demand for long-lasting and biocompatible dental restorative solutions.
Regionally, North America dominates the market currently owing to well-established healthcare infrastructure and rising dental expenditures. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with increasing accessibility of dental services and rapidly growing middle-class population in countries like India and China.
Key players operating in the stainless crowns market are Nasco, Simulaids Inc., Simulab Corporation, Mentice AB, Limbs & Things, Kyoto Kagaku Co. Ltd., Laerdal, Canadian Aviation Electronics, 3D Systems, Gaumard Scientific Company Inc., among others. The market leaders are focusing on new product development, partnerships, and geographic expansion strategies to strengthen their market presence.
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