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Root Canal Market Share Research Report: By Type (Nonsurgical Root Canal, Secondary Root Canal, Apicoectomy, Pulpotomy, Pulpectomy), Drug (Anesthetics, Painkillers, Antibiotics), Device (Crowns, Endodontic Instruments), End User - Global Forecast till 2023
The Global Root Canal Market Share could touch the valuation of USD 21.0 billion by 2023, asserts Market Research Future (MRFR). It is expected to achieve a CAGR of 8.0 % during the forecast period (2019-2023).
Root Canal Market Growth Drivers and Key Barriers
The global root canal market benefits from the rising demand for the treatment owing to the expanding population and the subsequent surge in the number of procedures performed. The boost in number of screenings, greater stress on restorative dental procedures, greater consumption of starch-rich diets and fast foods and rising efficacy, efficiency and success rate of root canal treatment has taken the market to greater heights.
Having said that, the high cost of root canal treatment could act as a barrier for the market in the near future. However, as product development is one of the best strategies for market growth, the market could observe exponential growth in the coming years. This factor stands true on the back of technological advancements in dental instruments procedures. These advancements are giving rise to a vast -spectrum of antibiotics that have superior protection qualities, thereby enhancing market growth. Also, dental drilling technology is believed to be an unmet need on account of the pain that is part of the procedure. Market development is another critical strategy in the market, with the presence of a huge number of unmet needs within the developing economies like India and China. The product cost is expected to be a decisive factor for market growth in the emerging regions like Asia Pacific and Africa.
The American Association of Endodontists (AAE) reveals that over 15 million root canals take pace every year, where more than 41,000 root canals are performed every day. Additionally, 89% of total patients give positive review of the root canal treatment by an endodontist. The American Association of Endodontists (AAE) also says that the estimated number of endodontic procedures has risen close to 10% when compared to the last decade.
Root Canal Market Prominent Vendors
The key contributing players in the worldwide are root canal market are Benco Dental, LM-Instruments Oy, 3M, Ultradent Products Inc., Schütz Dental GmbH, Confident Dental Equipment Ltd., Kerr Corporation, Dentsply Sirona, Pelton & Crane, and others.
Root Canal Market Segmentation
The worldwide market for root canal has been segmented on the basis of types, drugs, devices, and end-user.
With respect to the type, the market has been segmented into nonsurgical root canal, secondary root canal, apicoectomy root canal, pulpotomy root canal, and pulpectomy root canal.
Drug-wise, the market covers anesthetics, pain killers, antibiotics, and others.
Depending on devices, the market can be considered for crowns, endodontic instruments, consumables, and others.
The end-users in the market are dentistry hospitals and clinics, research and academics, and others.
Middle East & Africa, Europe, the Americas, and Asia Pacific are the primary markets for root canal.
The Americas stands as the top market for root canal. High expenditure on healthcare, particularly in the United States (U.S.) and Canada. Moreover, the rising number of dental procedures owing to sharp penetration of dental healthcare in the U.S. and Canada works in favor of the market. High concentration of renowned hospitals, along with favorable reimbursement rates adds to the market strength. The regional market also benefits from the high number of medical devices companies in the U.S. that constantly indulge in production innovation and other marketing hacks.
Europe emerges as the second leading market for root canal. The booming medical devices industry combined with healthcare penetration as landed the region in the top league. Europe is spearheaded by countries like France and Germany. Germany could expect to have the fastest growth in the years to come as it consists of a large medical devices industry.
Asia Pacific’s rapid growth in the worldwide market has been brought on by developing nations like India and China. These countries boast of a quickly expanding healthcare sector as well as large unmet needs that are now being considered by international players to gain footage in the region. Countries in South East Asia like India, China and Malaysia are presumed to make a deep impact on market growth, keeping in mind the increasing penetration of the healthcare industry.
Middle East and Africa could experience steady growth, led by Gulf nations including the United Arab Emirates (UAE) and Saudi Arabia. Some other countries to watch out for include Jordan, Kuwait, Iran, and Egypt. However, market growth in Africa is estimated to be poor on account of the weak economy and volatile political conditions. Sluggish healthcare development and poor social development and tribal identities, especially in sub-Saharan Africa, could hamper the market growth in the near future.
Michael Owens serves as the marketing advisor of Head45 in Cardiff Bay. He is a specialist in customer experience and an expert brand strategist who is keen to take on challenges that will help the business expand. Michael puts his creative energy into penning posts that are both interesting and useful for the most popular blogging sites.