Wednesday, February 28, 2024

Robotic Dentistry Market worth $1.0 billion in 2028

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Robotic Dentistry Market in terms of revenue was estimated to be worth $0.4 billion in 2023 and is poised to reach $1.0 billion by 2028, growing at a CAGR of 17.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. Developing countries such as ChinaIndia, the Middle East, and other APAC and Latin American countries present a lucrative opportunity for players in the market. This is mostly due to their expanding middle-class population, increasing disposable incomes, and the rising demand for dental tourism.

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Browse in-depth TOC on “Robotic Dentistry Market”

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Robotic Dentistry Market Scope:

Report Coverage

Details

Market Revenue in 2023

$0.4 billion

Estimated Value by 2028

$1.0 billion

Growth Rate

Poised to grow at a CAGR of 17.3%

Market Size Available for

2023-2028

Forecast Period

2023-2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Robotic Dentistry –End User, Application, type, and Region

Geographies Covered

Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Potential for growth in emerging countries

Key Market Drivers

Technological advancements in robotic dentistry

“During the forecast period, the standalone robot is expected to be the fastest growing segment of the robotic dentistry market.”

Under type, the standalone robot is forecasted to grow at the highest CAGR from 2023 to 2028. The primary drivers of this market are the introduction of new technologies, which provide advantages for patients in terms of more accuracy and less time consumption. The standalone robot is used for minimally invasive surgeries and can be used for the precise placement of implants. In various dental applications, standalone robots can be used.

“In 2022, by the end user, dental hospitals clinics segment held the largest share of robotic dentistry market.”

By end user, the robotic dentistry market can be segmented into dental hospitals and clinics segment, dental research and academic institutes, and other end users. Due to the large adoption of the robotic dentistry market at dental hospitals and clinics, this segment occupied the largest share of the market in 2022. Additionally, there has been an increase in rise in prevalence of oral diseases and dental tourism, which has contributed to the growth of the market.

“During the forecast period, Asia Pacific is expected to be the fastest growing region in the robotic dentistry market. “

The robotic dentistry is segmented into five major regions, namely, North AmericaEuropeAsia Pacific (APAC), Latin America, and the Middle East and AfricaAsia Pacific is expected to be the fastest-growing region in the robotic dentistry market during the forecast period. Growth in Asia Pacific in the robotic dentistry market is driven by the growing geriatric population, growing dental tourism, and factors such as the increasing number of dental professionals, the rising incidence of dental diseases, and the growing number of implant procedures.

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Robotic Dentistry Market Dynamics:

Drivers:

  1. Technological advancements in robotic dentistry

Restraints:

  1. High cost of robotic dentistry and dental procedures

Opportunities:

  1. Potential for growth in emerging countries

Challenges:

  1. Dearth of trained dental practitioners

Key Market Players:

The key players in the robotic dentistry market include Planmeca Oy (Finland), Align Technology Inc. (US), Intuitive Surgical Inc (US), DENTSPLY SIRONA Inc. (US), and Envista Holdings Inc. (US). These companies adopted strategies such as partnerships, acquisitions, and investments to strengthen their presence in the robotic dentistry market.

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