Global Market for Dental Imaging Systems Will Reach Over $2.3 Billion by 2022
Rising Use of Digital Dental Imaging Systems and Widespread Aesthetic Consciousness Will Drive Strong Market Growth, According to Millennium Research Group
TORONTO, Sept. 18, 2013 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the global market for dental imaging systems will see strong revenue expansion in the wake of rising demand for cosmetic dental procedures such as orthodontics, composites, veneers and crowns and bridges. General dentists are increasingly performing these lucrative procedures worldwide, resulting in strong adoption of dental imaging systems.
The global market for dental imaging systems is also being driven by a widespread shift from film-based systems to digital imaging solutions. Digital solutions are attractive to dental practitioners seeking to increase speed and efficiency, improve image quality and integrate imaging into information technology (IT) systems. Because digital dental imaging systems carry a higher price than film-based solutions, the shift will have a strong positive impact on global revenues.
The European market for dental imaging systems continues to be limited by the effects of the eurozone debt crisis and the lack of available financing for dental practitioners seeking to purchase new systems. The debt crisis will have the most significant impact in the next few years, and market growth will increase thereafter in line with gradual economic recovery and as delayed purchases of replacement systems and new incremental sales catch up to typical market growth levels.
The United States market will see strong growth as dental practitioners increasingly adopt high-end systems. Sirona and Planmeca combined accounted for over 40 percent of the US dental imaging system market in 2013, achieved through the companies’ exclusive distribution agreements with Patterson Dental. Patterson Dental’s longstanding relationships with US dental practices will continue to drive success for its distribution partners, presenting significant barriers to new companies trying to enter the US market.
“The Brazilian market is largely underpenetrated and, as a result, it will experience an influx of new competitors through 2022,” said MRG Senior Analyst Mickel Phung. “Increased competition will drive already low prices down even further, but dental imaging system sales will grow rapidly, especially because Brazil’s growing middle class will opt for more cosmetic dental procedures. The prevalence of medical tourism in this country due to low procedure and device costs will further support market growth.”
Millennium Research Group’s Global Markets for Dental Imaging Systems 2014 report includes unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for intraoral X-ray systems, extraoral X-ray systems and dental cone-beam computed tomography systems in the United States, France, Germany, Italy, Spain, the United Kingdom and Brazil.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group