Demographic Shift Influences Implant Market
The global dental implants and prosthetics market is projected to grow at a compounded annual rate of 4.7%, reaching $9.8 billion by 2021.
The global dental implants and prosthetics market is projected to grow at a compounded annual rate of 4.7%, reaching $9.8 billion by 2021.1 One of the key factors behind rising demand is an aging population. For the first time since population trends have been tracked, the number of people age 65 and older is expected to eclipse the number of children in the world.2
Because dental implants are costly and require access to surgically trained dentists, implants will not take off at the same rate in every nation. South Korea is the leader among developed nations in the number of dental implants for every 10,000 members of the population.3 In 2014, South Korea expanded its universal health care coverage to include implant treatment for citizens 75 and older. Furthermore, it has a thriving dental implant medical tourism industry.
In the United States, dental training is good, interest in cosmetic dentistry is strong, and there is a growing older adult population. According to the U.S. Census Bureau, the number of people age 65 and older will double by 2060.4 However, unlike South Korea and many European countries, there is no government dental coverage for seniors. Still, the U.S. dental implant market is poised for strong growth. In 2016, it was valued at nearly $1.5 billion, and was expected to grow at a compounded annual rate of 5.6%, surpassing $2.1 billion by 2023.1 Not surprisingly, the most popular time to seek implant treatment is the first quarter of the year, when private dental benefits reset. Looking at historical figures gathered by Dental Market IQ, during the first quarter, volume for implant treatments is around 25% higher than during the last quarter of the year.5 For savvy practitioners, this means now may be the best time to market this service to patients.
- Research and Markets. Growth Opportunities in the Global Dental Implant and Prosthetic Market. Available at: researchandmarkets.com/research/b24c5f/growth. Accessed December 19, 2017.
- He W, Goodkind D, Kowal P. U.S. Census Bureau. An Aging World : 2015. Available at: census.gov/library/publications/2016/demo/P95-16-1.html. Accessed December 19, 2017.
- Straumann Group. 2016 Annual Report: Markets. Available at: straumann.com/content/dam/media-center/group/en/documents/annualreport/2016/Markets.pdf. Accessed December 19, 2017.
- U.S. Census Bureau. An Aging Nation. Available at: census.gov/library/visualizations/2017/comm/cb17-ff08_older_americans.html. Accessed December 19, 2017.
- Dental Market IQ. State of the Dental Implant Market. Available at: dentalmarketiq.com. Accessed December 19, 2017.
From Decisions in Dentistry. January 2018;4(1):56.