The oral care products and dental consumables market is forecast to reach $17.46 billion by 2016, according to a new report by MarketsandMarkets, a global market research and consulting company based in the United States.
The increase in the ageing population worldwide and a concurrent increase in demand for enhanced oral care offers “huge opportunities” for product innovation and differentiation to dental care providers, according to the report. Moreover, increasing awareness in developing nations about oral hygiene and new product developments has also boosted the dental consumables market. Growth is also expected to increase in the coming years due to the rising demand for aesthetic dentistry and growing dental tourism, says the report.
The report goes on to add that while the lack of consumer awareness in developing economies may hinder market growth, growth opportunities for industry are “immense” due to less stringent regulations with respect to the introduction of new and advanced products and also their pricing. The increase in insurance coverage in developing countries and rising income levels in nations like India and China are also expected to contribute to growth in this market.
