The dental industry has been highly lucrative for industry players, with average 5.5% annual growth rate. Growth in the dental industry has been on upward trend since last two decades. As a result, industry players have generated high ROI over the last two decades, despite the industry being highly fragmented.
The future, however, is completely different – with disruptive dental technology underway. The companies are investing lump sum amount towards development of biologically engineered tooth regeneration for better dental treatment modalities. Tooth regeneration market outlook seems optimistic with potential to completely transform the dental industry perception.
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Tooth regeneration market revenue is expected to be primarily driven by various macroeconomic factors ranging from increased geriatric population, high per capita spending, and higher fund allocation on stem cell based tooth regeneration by companies and increased dental procedure worldwide. As per the World Bank estimates, geriatric population is growing three times higher than overall population growth in U.S. Same trend is prevalent across Asia Pacific and Europe. According to Europa, over 25% of population in Europe is expected to be aged over 65 years by 2020. As such, there is huge addressable market for players in the market.
Research activities in tooth regeneration market is expected to create favorable market opportunity for industry players in near future. Various studies are conducted by research institutes to understand the tooth regeneration market feasibility. For instance, Nova Southeastern University is conducting research on tooth regeneration from stem cells. Similar initiatives are taken by Tufts School of Dental Medicine and Columbia University (U.S.). Growth in tooth regeneration market scenario is expected to be further supported by increasing number of dental implant procedures performed annually is a significant opportunity for tooth regeneration techniques and products. Around 2.6 million dental procedures are estimated to be carried out in 2017 that would grow at 7.1% during 2016–2024.
There are over 5,000 dental laboratories with around 300 dental institutes and 200,000 dentists in India. Increasing consumer base along with high economic growth is expected to create lucrative market opportunity for industry players. Moreover, the market in the region is expected to grow at the fastest CAGR over the forecast period. By population demography, geriatrics population is expected to be the prime users of tooth regeneration product once it get commercialized. As of now, much of the need for tooth loss in geriatrics population is being met by dental implants.
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Enamel erosion is one of the most prevalent dental issue worldwide, which also results in other dental problems related to dentin and pulp. Researchers at the University of Southern California, are working on developing a technique using matrix metalloproteinase-20 (MMP-20), an enzyme found only in teeth, and an amelogenin-chitosan hydrogel to repair early tooth decay by growing an enamel-like layer
Tooth regeneration market players need to invest in R&D to harness stem cell technology to develop and commercialize tooth regeneration technology.