Zirconia Based Dental Materials Market is Estimated To Witness High Growth Owing To Rising Esthetic Dentistry Procedures For Dental Crowns And Bridges
The Zirconia Based Dental Materials Market is estimated to be valued at US$ 313.77 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Zirconia based dental materials are primarily used in dental procedures such as crowns, bridges, dental implants, and orthodontics. Zirconia dental materials have high biocompatibility, outstanding mechanical strength, and esthetics. Their hardness and durability make them ideal for fabricating dental prostheses.
Market key trends:
Zirconia based dental materials market is driven by the rising number of esthetic dentistry procedures for dental crowns and bridges. Zirconia provides superior esthetics as it closely mimics the appearance of natural teeth. They offer improved strength, longevity, and shade matching compared to other ceramic materials. Increase in disposable income and growing baby boomer population seeking dental prosthesis are further fueling the demand for zirconia crowns and bridges. Moreover, advancements in computer-aided design/computer-aided manufacturing (CAD/CAM) technology for zirconia material processing have made dental restoration procedures affordable and efficient.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up new manufacturing plants requires massive capital investments. However, technological advancements have lowered entry barriers to an extent.
Bargaining power of buyers: The bargaining power of buyers is moderate as zirconia based dental materials have applications ranging from crowns and bridges to dentures. However, established brands dominate the market.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials required for zirconia based dental materials such as zirconium dioxide are available from multiple global suppliers.
Threat of new substitutes: The threat of new substitutes is low as zirconia based dental materials have excellent properties like biocompatibility, strength and aesthetics that are not easily substitutable.
Competitive rivalry: The competitive rivalry is high due to presence of numerous global and regional players competing on the basis of product quality, price and innovation.
SWOT Analysis
Strength: Zirconia based dental materials offer benefits like high strength, biocompatibility and aesthetics. They have high demand from dentists and patients.
Weakness: High manufacturing costs and need for specialized equipment/machinery increase product prices. significant research is required for new product development.
Opportunity: Rapidly growing geriatric population suffering from oral health issues offers scope for market expansion. Technological advancements may reduce production costs.
Threats: stringent regulations around new product approvals can delay launches. Economic slowdowns impact discretionary healthcare spending.
Key Takeaways
The global Zirconia Based Dental Materials Market Share is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing frequency of dental diseases and rising awareness on dental aesthetics. The North America region currently dominates the market due to supportive reimbursement policies and presence of major players. Europe and Asia Pacific markets are fastest growing regions driven by rising medical tourism and focus on preventive dental care.
Key players operating in the zirconia based dental materials market include Pritidenta GmbH, Aidite technology co., LTD, Ivoclar Vivadent., 3M, Glidewell Laboratories, Besmile Biotechnology Co., Ltd., GC America, SAGEMAX, Dental Direkt, Huge Dental, Alien Milling Technologies, Zirkonzahn, Kuraray Noritake Dental INC., Aurident, and Dentsply Sirona. Ivoclar Vivadent and Dentsply Sirona capture around 30% of the global market share owing to their widespread product portfolio and geographic presence.
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