Market Insights Health Medical Technology Medical Devices

Dental Devices - NAFTA

NAFTA

Revenue in the Dental Devices market market in the North American Free Trade Agreement (in North American Free Trade Agreement (NAFTA)) is projected to reach US$8.46bn in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.88%, which will lead to a market volume of US$12.36bn by 2029.
In a global context, the majority of revenue will be generated the United States, amounting to US$7,403.00m in 2024.
The United States is experiencing a surge in demand for innovative dental devices, driven by increasing awareness of oral health and advancements in technology.

Key regions: Germany, Europe, Japan, Spain, Netherlands

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Analyst Opinion

The Dental Devices Market within the Medical Devices sector in NAFTA is experiencing moderate growth, influenced by factors such as technological advancements, an aging population, and increasing awareness of oral health, which drive demand for innovative dental solutions.

Customer preferences: Consumers in the Dental Devices Market are increasingly prioritizing preventive care and aesthetic enhancements, resulting in a growing demand for innovative solutions such as clear aligners and digital imaging technologies. The rise in health-consciousness among younger demographics, coupled with the aging population's desire for improved oral health, is steering preferences towards minimally invasive treatments. Additionally, the integration of tele-dentistry services reflects a shift towards convenience, enabling patients to access dental care from the comfort of their homes.

Trends in the market: In North America, the Dental Devices Market is experiencing a surge in demand for preventive care solutions, driven by consumers' increasing focus on oral health and aesthetics. In Latin America, there is a notable shift towards advanced dental technologies, such as clear aligners and 3D imaging, enhancing treatment precision and patient satisfaction. In Europe, tele-dentistry is gaining momentum, enabling patients to receive consultations and follow-up care remotely. These trends signify a transformative shift in dental care, urging industry stakeholders to innovate and adapt to evolving consumer preferences while exploring new market opportunities.

Local special circumstances: In Canada, the Dental Devices Market is thriving due to a strong emphasis on preventive dental care, influenced by public health campaigns promoting oral hygiene. The aging population is also driving demand for restorative solutions, while regulatory frameworks facilitate the swift approval of innovative dental technologies. In Mexico, cultural attitudes toward oral aesthetics are changing, leading to increased acceptance of cosmetic procedures and advanced treatments like clear aligners. These regional nuances shape market dynamics, compelling companies to tailor their strategies to meet local needs and preferences.

Underlying macroeconomic factors: The Dental Devices Market within the Medical Technology Market is significantly impacted by macroeconomic factors such as economic stability, healthcare spending, and demographic trends. In Canada, robust national healthcare policies and increased public investment in dental care are fostering market growth, while the aging population enhances demand for advanced restorative products. Conversely, in Mexico, economic growth and rising disposable incomes are driving consumer willingness to invest in dental aesthetics, including cosmetic procedures. Additionally, favorable trade agreements and regulatory frameworks in both countries facilitate the import of innovative dental technologies, further stimulating market dynamics.

Methodology

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.