Dental Devices - Iceland | Statista Market Forecast

In Iceland, revenue in the Dental Devices market market is projected to reach US$10.26m in 2024.
This revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 10.51%, leading to a market volume of US$16.91m by 2029.
In a global context, the majority of revenue will be generated the United States, amounting to US$7.40bn in 2024.
Iceland's dental device market is increasingly embracing digital technologies, reflecting a growing demand for advanced dental solutions among its health-conscious populace.

Definition:
The Dental Devices market, a medical technology market, covers a wide range of products used in the diagnosis, treatment, and prevention of diseases and conditions affecting oral health. This includes dental equipment such as dental lasers, laboratory equipment, hygiene maintenance devices, and other dental devices.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include 3M, Dentsply Sirona, and Align Technology. Further information on the key players can be found in the Market Shares boxes.

Dental surgical devices
Implants such as dental prosthetics

Dental drugs
Dental supplements

The Dental Devices Market in Iceland is witnessing considerable growth, fueled by factors such as advancements in dental technology, increasing awareness of oral health, and the rising demand for cosmetic dental procedures among the population.

Customer preferences: Consumers in Iceland are increasingly prioritizing oral aesthetics and preventative care, driving a notable shift towards advanced dental devices such as digital scanners and 3D printing technologies. The rising trend of cosmetic dentistry, influenced by social media portrayals of ideal smiles, has elevated demand for orthodontic solutions like clear aligners. Furthermore, a growing emphasis on holistic health and wellness is prompting individuals to invest in minimally invasive dental procedures, reflecting a cultural shift towards proactive health management and enhanced quality of life.

Trends in the market: In Iceland, the Dental Devices Market is experiencing a surge in demand for advanced technologies, particularly digital scanners and 3D printing solutions, as consumers increasingly seek enhanced oral aesthetics and preventative care. This trend is further fueled by the popularity of cosmetic dentistry, largely driven by social media influences, which has heightened interest in orthodontic options like clear aligners. Additionally, the focus on holistic health is leading to a preference for minimally invasive procedures, significantly impacting industry stakeholders by pushing them to innovate and adapt their offerings to meet evolving consumer preferences.

Local special circumstances: In Iceland, the Dental Devices Market is shaped by its unique geographical landscape and a strong emphasis on health and wellness. The country’s remote location fosters a close-knit community that values personalized healthcare, influencing the demand for advanced dental solutions tailored to individual needs. Additionally, stringent regulatory standards ensure high-quality products, pushing manufacturers to innovate continuously. The cultural appreciation for natural beauty and wellness further drives interest in aesthetic dental treatments, making minimally invasive options increasingly popular among consumers.

Underlying macroeconomic factors: The Dental Devices Market in Iceland is significantly influenced by macroeconomic factors, including national economic stability, healthcare funding, and global economic trends. The country's robust healthcare system, supported by government investment and favorable fiscal policies, promotes access to advanced dental technologies. Additionally, the global shift towards preventive care and aesthetic enhancements drives demand for innovative dental solutions. Economic indicators such as disposable income and consumer spending also impact market performance, as higher income levels correlate with increased investment in dental care, particularly aesthetic treatments. Overall, these factors create a conducive environment for growth in the Dental Devices Market.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.