Dental Devices - Sri Lanka | Statista Market Forecast

Revenue in the Dental Devices market market in Sri Lanka is anticipated to reach US$1.71m in 2024.
This revenue is projected to exhibit an annual growth rate (CAGR 2024-2029) of 3.23%, culminating in a market volume of US$2.00m by 2029.
In a global context, the majority of revenue is expected to be generated the United States, with a figure of US$7.40bn in 2024.
The dental devices market in Sri Lanka is witnessing a surge in demand, driven by increasing awareness of oral health and advanced dental care technologies.

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 Sri Lanka is witnessing mild growth, influenced by factors such as increasing dental awareness, expanding healthcare access, and the introduction of innovative technologies. However, challenges like cost and limited infrastructure impact overall growth.

Customer preferences: Consumers in Sri Lanka are increasingly prioritizing oral health, leading to a rising demand for advanced dental devices and cosmetic dentistry options. There is a growing interest in aesthetic treatments, influenced by social media and changing beauty standards. Additionally, younger demographics are more inclined to seek preventative care, prompting dental professionals to adopt innovative technologies like teledentistry and digital imaging. This shift reflects a cultural emphasis on self-care and wellness, further driving the dental devices market's evolution.

Trends in the market: In Sri Lanka, the Dental Devices Market is experiencing a surge in demand for advanced dental technologies, driven by an increased focus on oral health and aesthetic treatments. The rise of cosmetic dentistry, heavily influenced by social media, is prompting consumers to seek innovative solutions. Younger demographics are also prioritizing preventative care, leading dental professionals to embrace technologies such as teledentistry and digital imaging. This trend signifies a cultural shift towards self-care and wellness, presenting significant opportunities for industry stakeholders to invest in cutting-edge dental solutions and expand their market presence.

Local special circumstances: In Sri Lanka, the Dental Devices Market is uniquely influenced by a blend of cultural practices and geographical factors. The island's rich heritage emphasizes traditional remedies, yet there is a growing acceptance of modern dental technologies, particularly among urban populations. Access to quality dental care varies significantly between urban and rural areas, prompting a rise in mobile dental clinics to bridge the gap. Furthermore, regulatory initiatives aimed at enhancing dental standards are fostering innovation and investment. This evolving landscape creates a fertile ground for dental professionals to adopt advanced solutions, catering to a diverse clientele.

Underlying macroeconomic factors: The Dental Devices Market in Sri Lanka is significantly influenced by macroeconomic factors such as national economic growth, healthcare investment, and demographic trends. The country's economic stability, reflected in GDP growth, enhances public and private spending on healthcare, leading to increased demand for advanced dental technologies. Additionally, the government's commitment to improving healthcare infrastructure through fiscal policies supports innovation in dental care. Moreover, rising disposable incomes among urban populations further drive the acceptance of modern dental devices. This interplay of economic dynamics fosters a conducive environment for market expansion, addressing diverse patient needs across the island.

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.