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The global Dental Bone Graft Substitute Market in terms of revenue was estimated to be worth $450 million in 2020 and is poised to reach $659 million by 2025, growing at a CAGR of 7.9% from 2020 to 2025. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Growth in the market is driven primarily by the increasing prevalence of dental disorders, continuous product commercialization, market availability & product affordability, rising number of geriatric population, and growing public awareness related to preventive care are driving the growth of the market.
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Dental Bone Graft Substitute Market Dynamics
Driver: Growing Medical and Dental Tourism in Developing Countries
Dental tourism is an important factor that drives the market. India’s dental tourism service as there is a lot of cost difference with good quality work when we compared India to the other countries. Like cost for smile designing in US is USD 8,000 and in India is USD 1,000 and for dental implants in the US is USD 2,000, in Hungary is USD 1070 and in India USD 600 approximately. Vietnam revamped its dental care services to world-class standards in the last decade, attracting patients from Australia, New Zealand, and the United States. Today, more than 100,000 tourists from these countries visit Vietnam for cutting-edge dental procedures, contributing more than USD 150 million to the country’s dental industry.
Countries, such as Thailand and Malaysia, offer dental tour packages that include the cost of a dental treatment as well as a vacation, which is still lower than the total cost of a dental treatment incurred in the US or the UK. This has attracted a large number of people from America and Europe to avail dental treatments in Asian countries, thus making dental tourism a major source of revenue collection in these countries. Introduction and availability of newer and advanced dental products is expected to further fuel the growth of this market.
Restraint: Lack of Proper Reimbursement Scenario
Dental treatments lack proper reimbursements in developed regions, such as the US, Europe, Australia, and Japan. In developing nations, such as India, China, and Thailand, medical insurance policies do not cover expensive dental procedures such as implantations. In case of the US, very few dental procedures are eligible for reimbursement, due to which a patient’s decision to opt for treatment is largely dependent on its affordability. This may restrain the growth of the bone graft substitutes market in the coming years.
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Opportunity: Increasing demand from customers and rising inclination towards cosmetic dentistry
The increasing demand from customers and rising inclination towards cosmetic dentistry are some of the major opportunities for the growth of the market. Forty per cent of the UK population are unhappy with the appearance of their teeth, according to a new survey, with nearly half (48%) planning to undergo cosmetic dental work. New technology, materials and procedures have also played a major role in the cosmetic dental boom. “Same-day smiles” have become a reality, as cutting-edge CAD/CAM systems, advanced intraoral scanners and sophisticated 3D imaging software have been combined to facilitate improved diagnostics and treatment.
Challenge: PRICING PRESSURE FACED BY PROMINENT MARKET PLAYERS
Pricing pressure is one of the major challenges faced by players in the market. The major players operational in the market have been successful in establishing their position in the global market; however, entry into local markets has been a major challenge for these players. This is because products in local markets are generally priced lower as compared to international markets. Though most of the major players have adopted various strategies to combat this challenge, the pricing pressure has remained one of the major challenges in the market.
Europe is the largest regional market for Dental bone graft substitute industry.
Europe is one of the major revenue-generating regions in the global market. The favorable reimbursement & insurance coverage for major procedures and supportive government regulations for product commercialization are the major factors driving the growth of the dental bone graft substitute market in Europe.
Leading players operating in the global dental bone graft substitute market are Dentsply Sirona (US), Johnson & Johnson (US), Danaher Corporation (US), Medtronic (Ireland), Strauman (US), Zimmer Dental (US), Geistlich Pharm (Switzerland), RTI Surgical (US), BioHorizons, IPH, Inc (US), Dentium (South Korea), LifeSciences Corporation (US), Smith & Nephew (UK), Novabone LLC (US), Botiss biomaterials GmbH (US), Collagen Matrix Inc. (US), Osteogenics Biomedical (US), LifeNet Health (US), Wright Medical (US), and Stryker Corporation (US).
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Danaher is one of the leaders in designing, manufacturing, and marketing innovative products and services to professional, medical, industrial, and commercial customers. The company holds a significant share in the global dental bone graft substitute market. To maintain its market position and ensure future growth, the company adopts organic and inorganic growth strategies. In line with this, Danaher also focuses on R&D to provide its customers with innovative products and to maintain a competitive position in the market. The company’s efforts to strengthen its product portfolio, expand its geographic reach, and increase its brand visibility are expected to drive its growth in the market.
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