The hyper consolidated global dental 3D Printing Market is witnessing stellar growth and the period of 2017 and 2025 is marked with a double digit CAGR (Compound Annual Growth Rate) of 17.5%. This steady growth rate, compounded annually will translate into a higher market worth of USD 3427.1 million. In 2916, this value was a mere USD 903.0 million. It is important to note here that as the entry of new players is restricted to a large extent, over the forecast period, competition within players that have made their mark is set to intensify.
And, it thus surprises no one that players would be majorly focused on technology advancement as that would be a significant determinant of the size of market share that a player holds. Here, it is pertinent to note that 3D models of dentures, crowns and so on are required for the additive manufacturing process. Most patients now demand a highly efficient and minimal trauma in surgical procedures.
Some of the top players in the global dental 3D printing market are Concept Laser GmbH 3D Systems, Inc., EnvisionTEC, Inc., Formlabs, Inc., Renishaw plc., DWS System, Prodways Group, Asiga, SLM Solutions and others.
Factors of Growth:
At this point, it might be of some interest that there are some factors that are heavily leading to growth in the global dental 3D Printing Market. One, the rise of geriatric population is massive. The ratio of people aged 65 and above, and the rest of the population will be in 1:5 by 2050. This demographic is particularly susceptible to dental issues, creating demand for dental restorations. It is also worth pointing out here that the same ratio in regions of North America and Europe over the same period will be 1:3. Thus, the impact and thus growth will be more pronounced.
Population-wise, another fact that is quite noteworthy is that in the year 2028, for the first time ever, number of geriatrics surpassed the number of kids. The respective age groups for the two categories are 65 and above, and five and below. Besides, as far as the age group of 60 and above is concerned, it will see a rise in its membership to a hefty 2 billion by 2050 from a 900 million in 2015.
Furthermore, it is pertinent to note that a change is lifestyle is also leading to increase in demand for dental restorations, leading to growth in dental 3D Printing Market. As people take to habits like smoking, drinking and consuming tobacco in other form, dental health deteriorates, leading to demand for restorations. Some of the reasons behind the increase in use of cigarettes and alcohol is rising stress levels at work, rise of dual income families and nuclear families, even in areas that we traditionally a joint-family set-up.
Another critical factor that is leading to growth in the global dental 3D Printing Market includes rise of social media which is setting extremely high beauty standards for people. And, as people strive to attain them, new demands for better hair, skin, products, and teeth emerge. This, in turn, leads to rise in dental restoration services.