The global Cosmetic Dentistry Market size is expected to reach USD 27.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2021 to 2028. With an increase in the population opting for the improvement of dental aesthetics, this industry has undergone great advancements. Cognizance among the population about such techniques and procedures has allowed this industry to prosper by leaps and bounds. Developing countries have generated a large amount of disposable income, which is the main reason why cosmetic dentistry is flourishing. The geriatric population, in general, has propagated the growth of this industry with old age-related tooth ailments. Dental tourism has been an important reason that has caused cosmetic dentistry to prosper globally.
The major restraints in this market include the lack of reimbursement options for cosmetic procedures and the expensive cost of dental imaging. Insurance companies and government agencies do not regard cosmetic procedures as essential, and thus not many reimbursement options are available for cosmetic dentistry.
Initially, as a short-term impact of COVID-19, global cosmetic dentistry was hampered. Most of the dental clinics had stopped seeing their patients, with only emergency treatments given a permit. This resulted in a lower volume of patient visits and impacted revenue to a great extent. It was reported that there were 19 million fewer routine check-ups at NHS registered dental practices. However, telemedicine became an effective mode of communication for both patients and doctors. On the flip side, in countries such as Australia, due to the longer time spent on Zoom, interest in cosmetic dentistry has increased highlighting some brighter days ahead for the industry.
Related Press Release @ Cosmetic Dentistry Market Report
Cosmetic Dentistry Market Report Highlights
- North America led the market for cosmetic dentistry in 2020 owing to technological advancements and an increase in patients opting for procedures to improve dental aesthetics
- The Asia Pacific region is expected to grow significantly in the forecast period. This is majorly attributed to a large population base and disposable income being generated in this region
- By product, dental systems and equipment held the largest market share in 2020 owing to their wide range of applications in the dental industry