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Everyone wants a whiter, more attractive smile, and according to research, that desire is creating a goldmine for dentists. With the dental restoration market expected to grow more than 5 percent over the next several years, dental health care providers would be wise to tap into it. Read more about the new report outlining growth trends in cosmetic dentistry below.
Cosmetic dentistry adjusts the color, size, shape, alignment and aesthetic quality of a person's teeth.
According to a new report from Research and Markets, the global dental restoration market is expected to grow significantly from 2017 to 2021.
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During this time period, the market is forecast to experience a compound annual growth rate (CAGR), or average year-to-year growth rate over a certain period of time, of 5.16 percent. This analysis is based off information collected from both primary and secondary sources, including data gathered from several industry experts.
A large factor driving the growth of the dental restoration market is the increased demand for advanced cosmetic dental procedures, which are generally used to improve the appearance of the teeth, gums and supporting oral structures. Patients often choose cosmetic dentistry to improve the appearance of their smile since procedures in this field often adjust the color, size, shape, alignment and general appearance of the teeth and other oral structures. As Dentist’s Money Digest previously reported, some reports estimate the global market for cosmetic dentistry alone will reach $27.95 billion by 2024.
The universal increase in rates of dental caries has been identified as a major factor driving the growth of the dental restoration market. Worldwide, 60 to 90 percent of school-aged children have caries, along with almost 100% of adults. While the prevalence of caries varies by geographical location and availability of dentistry services, many of the most common dental problems, including caries, can be linked to an unhealthy diet and tobacco and alcohol use.
Even though growth in the restoration market is anticipated, some factors could still slow the rate of growth that’s actually experienced. Even though more people are seeking out cosmetic dentistry providers, many lack insurance to be able to pay for such services. Cosmetic dentistry typically costs more than other types of dental procedures, and a lack of insurance, or under-insurance, could make many people unable to afford such expenditures.