Report Description of the US Dental Care Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Australia Dental Care Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Australia Dental Care Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
Australia Dental Care Market Analysis Executive Summary
The Dental Services industry's performance is forecast to improve over the next five years, supported by a growing and ageing population and rising disposable incomes. The need for improved oral care over the longer term is also projected to increase demand for industry services over the period. The Australian healthcare industry is dependent on imported equipment and demand is high for high quality, innovative dental products.
Market Size and Key Findings
The Australia Dental Care Market Analysis size stood at around USD xx% billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Market Dynamics
Market Growth Drivers Analysis
Due to the increasing aging population in Australia, there has been an increase in the number of dental implants and oral surgeries being performed. In addition, there is a decrease in manual dexterity and an increase in comorbidity and medications affecting the oral cavity. Hence, the dental care in aged care facilities is found to be poor and access to dental professionals is difficult. There are several other risk factors, such as smoking, poor oral hygiene, diabetes, medication, and hereditary conditions, which are also connected to the increase in dental diseases. There are few population-based surveys in the Australia that demonstrate a high dental caries experience among elderly population. Thus, it is being found that the number of elder people is growing fast in all industrialized countries including Australia, and thus, contributing to the increase in dental device market. The other factors, such as increasing incidence of dental diseases and innovation in dental products is expected to drive the market in the forecast period.
Market Restraints
Increasing Cost of Surgeries, Expanding Demand for Refurbished Dental Devices are a major restraining factor. The increased cost of services due to high cost of dental equipment is a significant factor that may hamper the market growth during the forecast period. Hospitals may also be under more pressure to raise prices to compensate for lower volume. There are major opposing influences, though.
Covid-19 Market Impact Analysis
Industry operators are expected to face several challenges related to COVID-19. The implementation of level three guidelines and restrictions in March 2020 limited the number of dental services able to be offered. Under these restrictions, dentists may only perform dental treatments that do not generate aerosols or where treatment generating aerosols is limited. While most dental practices have since reopened following the move to level one restrictions in May 2020, the implementation of level two restrictions in regional Victoria and level three restrictions in metropolitan Melbourne in July and August 2020 are expected to dampen demand in 2020-21 as are subsequent regional lockdown restrictions.
Competitive Landscape
Key Players
The market for dental devices in Australia is moderately competitive and there are several international companies that are having a strong presence in this country. The global players into the Australia dental devices market are 3M Company, A-Dec Inc., Biolase Inc., Carestream Health Inc., Dentsply Sirona, Envista Holdings Corporation, GC Corporation and Planmeca.
Products in Pipeline
- An ongoing trend within the dental prosthetic market is the increasing movement towards digitization, resulting in high growth of the CAD/CAM prosthetics market. Through the use of CAD/CAM technology, dentists and laboratory technicians are able to increase productivity levels. Prices for CAD/CAM systems and blocks are expected to gradually decrease throughout the forecast period. As scanning and milling units becomes increasingly affordable, more laboratories and dental clinics will be able to invest in the technology.
Notable Recent Deals
- Graduates of programs accredited by the Australian Dental Council (ADC) and approved by the Dental Board of Australia (DBA) are eligible to apply for registration with the DBA. Please see the DBAs website for further details regarding the registration process.
- The Australian Health Practitioner Regulation Agency (Ahpra) welcomes the announcement by Health Ministers to review the use of the title surgeon.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
Australia has a government-funded healthcare scheme, Medicare. However, in contrast with other health services, the Dental Services industry is predominantly privately funded. Most patients pay for dental care, check-ups and procedures out of their own pocket, and some use private health insurance to subsidize the cost. Patients with private health insurance are more likely to regularly go to the dentist and undergo expensive procedures. Approximately 50% of Australians have some level of private health insurance cover for dental expenses.
In 2019, the Australian Government paid benefits averaging $60 per service provided under the Child Dental Benefits Schedule. Around one-fifth of dentate adults aged 15 years and over avoided or delayed dental care due to cost in 201920. Adults aged 15 years and over had an average of 11.2 decayed, missing and filled teeth in 201718. In 201718, about 72,000 hospitalisations for dental conditions may have been prevented with earlier treatment.
The Therapeutic Goods Administration (TGA) regulates medical devices. Australias regulatory framework is based on IMDRF guidelines which means that EU and Australian requirements are similar. Most medical equipment in Australia are supplied under CE certification, however, under the Medical Device Single Audit Program (MDSAP), the TGA recognizes US FDA regulatory clearance information if presented with a MDSAP certificate.