If you’ve been considering making any serious changes to the dental equipment in your office, now might be the time for action.
According to recent market projections, the demand for dental services is poised for rapid growth, along with the demand for necessary equipment.
Multiple market reviews and reports are signaling the flashing lights that indicate something big is coming for those who work with or sell dental equipment.
So, just what, specifically, should you be on the lookout for?
Dental Industry Projections
In 2021, the dental equipment market reached approx. $6.2 billion. By the year 2026, that number is expected to reach $8.9 billion.
That’s an increase of more than 43%, in just five years.
So far, smaller areas within the dental equipment market already show rising cost increases.
One example can be seen in the dental tools necessary for microsurgery.
Microsurgeries are minimally invasive procedures which pay particular attention to precision, rather than procedure.
To reach the level of accuracy necessary for these surgeries, dentists often use fiber optic lighting and dental operating microscopes, creating the name “microsurgery.”
The global dental microsurgery market share was estimated at $251.02 million in 2020. In 2021, that number increased by $18.85 million, with an estimate of $269.87 million.
By the year 2027, this sector of the dental industry is expected to reach an impressive $426.76 million. That’s a staggering 58% increase, in just a few years.
Growing Orthodontic Treatments
Microsurgeries aren’t the only areas you should expect to see increases.
Braces and other orthodontic consumables are also expected to see a drastic rise in market share.
In 2020, the global market for these appliances was estimated at $5,202.23 million, rising to $5,756.58 million in 2021.
By 2027, this sector of the dental industry is projected to nearly double, to an expected $10,815.63 million.
The popularity of clear aligners may be one of the reasons fueling the demand in this market sector.
Due to their virtually invisible nature, more patients feel confident about seeking out these devices.
Clear aligners are also far more convenient. Patients who wear them report care of these products is simple, while allowing them to eat nearly any foods they want.
As these products continue to catch on with consumers across the world, it’s no wonder such sharp growth is expected.
Current Growth Fueling the Future Of Dental Equipment
While the numbers are pointing to success, it’s not always easy putting faith in future estimates.
But, by looking at trends you can already see, you’ll notice certain patterns emerging.
One of the key reasons that the dental equipment market is expected to grow is due to an increase in dental laboratories.
There were 9,300 dental laboratories within the United States in 2020. 2021 brought an additional 135 laboratories to the country.
In addition to more laboratories, dentists are embracing new technology at a rapid pace.
Aside from technological advances, dental tourism is also gaining in popularity. In this practice, people travel to different sections of the world in order to obtain dental treatment.
For example, some people from the United States have considered traveling to Costa Rica for financial reasons. In other cases, those from areas of the world with limited treatment options travel to the U.S. for better care.
Though COVID-19 continues to hinder travel, the dental tourism practice means dentists around the world need the right dental equipment for the job, no matter what clientele they encounter.
Finally, and perhaps most notably, economists believe a growth in the market is directly linked to an expected rise in oral health diseases.
Even the World Health Organization recognizes the issue, stating that oral health problems will rise along with an aging worldwide population.
If you’ve been waiting for the right moment to upgrade your dental equipment, now is the time.
With the market for dentistry services poised for incredible growth over the next few years, you don’t want to miss your opportunity to grow your practice along with it.
Whether expanding your services to include orthodontic appliances like clear aligners, or investing in new technology like intraoral scanners, capitalizing on these trends can make a big difference for your practice.
About First Choice Dental Lab®
We’re a full-service dental lab with locations in Downers Grove, Il. & Wauwatosa, Wi.
We manufacture & customize quality dental restorations for general dentists. We create smiles based on your needs and budget.
We’re here to help you give your patients a reason to smile!
Complete the form below (or on the right-hand side of your computer) to request a fee schedule today!