The global Dentures Market is expected to rise remarkably on account of the increasing prevalence of dental issues and periodontal diseases world wide. Dentures are customized artificial teeth gums that are replaced with lost or removed teeth. They are shaped accordingly as per the oral structure of the patient. As per a recently published report by Fortune Business Insights™ titled, “Dentures Market Size, Share Industry Analysis, By Type (Complete and Partial), By Usage (Removable and Fixed), By End User (Dental Hospitals Clinics, Dental Laboratories, and Others), and Regional Forecast, 2020-2027,”the market stood at USD 2.33 billion in 2019 and is anticipated to reach USD 3.82 billion by 2027 by exhibiting a CAGR of 6.4% between 2020 and 2027.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
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The report offers a comprehensive overview of the market and emphasizes on growth parameters such as drivers, restraints, challenges, and upcoming opportunities. It alsothrows light on the table of segmentation in detail and lists the names of the leading segments with market figures. The report also lists the names of significant players and the key strategies adopted by them to attain dominance in the market competition. Furthermore, the report discusses the major industry developments, current trends, and other useful facts that will help investors make strategic decisions and accordingly contribute to the market. For more information on the report, log on to the company website.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Europe Emerged Dominant with Highest Number of Edentulous Population
Geographically, Europe earned the largest dentures market share with a revenue of USD 878.4 million in 2019. This is attributed to the increasing prevalence of dental caries and the growing presence of the edentulous population. In addition to this, a rise in the expenditure on dental procedures and the rising number of dentists are also contributing to the growth of the regional market. Besides this, the market in North America will rise significantly owing to the presence of the baby boomer population and a rise in the average life expectancy. Additionally, the increasing adoption of dentures and amplified expenditure on dental procedures with the presence of superior dental services in the region will help it gather remarkable revenue in the forthcoming years.
Rising Cases of Oral Health Issues Will Add Impetus to Market
Various factors are responsible for dentures market growth. These include a rise in geriatric population, increasing number of dental procedures, the presence of baby boomer population, and arise in the prevalence of periodontal and edentulism diseases. Besides this, the rising utilization of dental services, further attributed to the increasing number of dental specialists will also aid in the expansion of the market in the coming years.
On the contrary, there is a decline in the edentulous population in most of the high-income nations on account of the rising awareness about oral health. Additionally, there are limited options available for dental treatment in the middle and low-income nations, which may further hamper the overall market growth in the coming years.
Geographical Expansion – Key Objective of Players
Major players operating in this market are engaging in the adoption of new technology and approaches for attracting their consumers in the forthcoming years. A majority of patients obtain their dentures from local labs that offer dental models for the customization of their dentures. Such initiatives will help these players gaina competitive edge in the market. Additionally, companies are engaging in mergers and acquisitions, contracts and agreements, joint ventures, and other collaborative efforts to maintain their mark in the competition. Furthermore, they are focusing on geographical expansion to exhibit immense growth and revenue generation in the forecast duration.
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