An Incisive, In-depth Analysis on the Dental Imaging Equipment Market
This study offers a comprehensive, 360 degree analysis on the Dental Imaging Equipment market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Dental Imaging Equipment market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The global dental imaging equipment market is estimated at US$ 2,088.2 Mn in 2015 and will expand at a moderate CAGR during the forecast period 2016-2024.
CBCT Imaging To Fuel Growth of Global Dental Imaging Equipment Market
Adoption of cone-beam computed tomography (CBCT) will continue to influence global dental imaging equipment market revenues. Dental professionals and radiologists are preferring CBCT over traditional dental imaging techniques as it helps reconstruct a 3-D image of oral and maxillofacial region.
As a product type segment, cone-based computed tomography currently accounts for over 18% revenue share of the global dental imaging equipment market. This segment is anticipated to increase at a year-over-year growth rate of 5.3% in 2016 over 2015 and reach US$ 396 Mn in revenues. In terms of market volume, 1,193 units of CBCT systems are expected to be sold in 2016.
Cone-beam Computed Tomography in Dental Imaging - Market Dynamics
Cone-beam computed tomography is one of the latest advancements in the global dental imaging systems and is considered as a prominent product-type segment in the global market for dental imaging equipment. The use of CBCT imaging equipment has increased in various aspects of dentistry and periodontal surgery. Implant dentistry and interventional radiology are some of the key clinical verticals that extensively use the CBCT imaging equipment. As a result, cone-beam computed tomography is emerging as an important and the most enhanced dental imaging system in private dental clinics, hospitals and ambulatory surgical centres. Moreover, the demand for CBCT scanners has increased in oral surgery, endodontics as well as orthodontics. Additionally, the rising number of cosmetic dental surgeries and complex dental procedures will continue to drive the growth in the demand for CBCT imaging equipment in the global market. The use of CBCT as an integrated surgical component in image-guided radiation therapy is also observed as the key factor fuelling the demand for cone-beam computed tomography in the global dental imaging equipment market.
The risks of using CBCT technology are perceived as the main restraints challenging the growth of the segment in the global dental imaging equipment market. Unlike the conventional extraoral X-ray imaging, the radiation delivered by CBCT systems is higher, causing unanticipated damages on the health of the patient. Owing to this, several dental practitioners are reluctant to use these systems extensively, thereby lowering the adoption of cone-beam computed tomography.
The risk of radiation exposure through CBCT is higher among children and teens – a key demographic undergoing dental surgeries. Also, the higher threat towards cancer incidence has drastically plunged the demand for CBCT equipment in hospitals. The technical disadvantages of CBCT systems such as lack of standardised scaling system for reconstructed dental values and the absence of bone density assessment are also expected to limit the growth of cone-beam computed technology in the global dental imaging equipment market.
CBCT Imaging Equipment - Market Outlook
The effective surgical outcomes from the use of CBCT imaging equipment in dentistry have boosted the prominence of the technology in the global market. CBCT imaging products and devices are observed as the fastest growing product-type segment in the global market. The cone-beam computed tomography has gained prominence in North America, which is one of the leading region in the global dental imaging equipment market.
The upsurge in the installation of CBCT imaging systems in the US is expected to register a CAGR of over 8% during the forecast period. As a result, the CBCT segment in North America is expected to account for US$ 297.3 Mn by the end of 2024. In Europe, the growth in demand for cone-beam computed technology is expected to expand at a CAGR of over 7% and reach US$ 174.2 Mn over the period of next 8 years. At a similar CAGR, the CBCT equipment market in the Asia Pacific region is expected to attain over US$ 134 Mn by the end of the forecast period.
Key Players in the CBCT Imaging Equipment Market
Danaher Corporation, one of the leading companies in the global market for dental imaging equipment, is dominating the global market share, owing to the company’s flagship products that include enhanced CBCT equipment. The other major players in the CBCT imaging equipment market include, Planmeca Oy, Carestream Health, and Dentsply Sirona.
In the year 2015, the intraoral x-ray systems type held the majority market share of the global market, followed by extraoral x-ray systems and cone-beam computed tomography. At an estimated CAGR of 7.5 % during 2016-2024, the CBCT segment is estimated to continue its upsurge in terms of market share throughout the forecast period and attain the third most prominent product-type sub-segment in the global dental imaging equipment market.
Future Market Insights (FMI) offers an eight-year forecast on the global dental imaging equipment market. In terms of revenues, the global dental imaging equipment market is anticipated to increase at a CAGR of 6.8% during the forecast period 2016-2024. The primary objective of this report is to offer insights on the market dynamics that can influence the growth of the dental imaging equipment market. Actionable insights on key trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global dental imaging equipment market are presented in the report.
Global demand for dental imaging equipment is expected to increase due to the increase in the number of cosmetic dental surgeries and dental procedures such as endodontics and prosthodontics. Markets in Europe and Asia Pacific are expected to expand at significant CAGRs during the forecast period attributed to increasing disposable income and increasing awareness on dental hygiene. To understand and assess opportunities in this market, the report offers market forecast by product type, end user, and region. The report provides analysis of the global dental imaging equipment market in terms of market value (US$ Mn).
The global dental imaging equipment market has been segmented on the basis of:
- Product Type
- End User
The report begins with the market definition, followed by the definitions of the different product types. This is followed by an overview on evolution of dental imaging equipment-based products. The market dynamics section includes FMI’s analysis on key trends, drivers, restraints, opportunities, and macro-economic factors influencing the global dental imaging equipment market.
The next section of the report analyses the market on the basis of end user and presents the forecast in terms of value for the next eight years. On the basis of end users, the global dental imaging equipment market has been segment into:
- Ambulatory Surgical Centers
- Independent Dental Clinics
- Forensic Laboratories
Furthermore, the report analyses the market on the basis of regions and presents the forecast in terms of value for the next eight years. On the basis of regions, the global dental imaging equipment market has been segment into:
- Rest of Latin America
- Rest of Europe
- Australia and New Zealand
- Rest Of APAC
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
In addition, we have taken into consideration the Year-on-Year (Y-o-Y) growth to understand the predictability of the market and identify growth opportunities for the players in the global dental imaging equipment market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is usually overlooked, while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the dental imaging equipment market. To understand key segments in terms of their growth and performance in the global dental imaging equipment market, Future Market Insights has developed a market attractiveness index. The resulting index would help providers identify existing market opportunities.
In the final section of the report, the ‘competitive landscape’ is included to provide a dashboard view of dental imaging equipment manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the dental imaging equipment value chain and the potential players. However, this section also includes market strategies and SWOT analysis of the main players in the global dental imaging equipment market.
Detailed profiles of medical devices companies are also included in the scope of the report to evaluate their long- and short-term strategies. Key players included in this report are Danaher Corporation, Planmeca Oy, Carestream Health, Dentsply Sirona, VAtech Co. Ltd., Acteon Group and others.