Growth Drivers and Key Barriers
The global root canal market benefits from the rising demand for the treatment owing to the expanding population and the subsequent surge in the number of procedures performed. The boost in number of screenings, greater stress on restorative dental procedures, greater consumption of starch-rich diets and fast foods and rising efficacy, efficiency and success rate of root canal treatment has taken the market to greater heights.
The American Association of Endodontists (AAE) reveals that over 15 million root canals take pace every year, where more than 41,000 root canals are performed every day. Additionally, 89% of total patients give positive review of the root canal treatment by an endodontist. The American Association of Endodontists (AAE) also says that the estimated number of endodontic procedures has risen close to 10% when compared to the last decade.
The global root canal market could touch the valuation of USD 21.0 billion by 2023, asserts Market Research Future (MRFR). It is expected to achieve a CAGR of 8.0 % during the forecast period (2017-2023).
The worldwide market for root canal has been segmented on the basis of types, drugs, devices, and end-user.
With respect to the type, the market has been segmented into nonsurgical root canal, secondary root canal, apicoectomy root canal, pulpotomy root canal, and pulpectomy root canal.
Drug-wise, the market covers anesthetics, pain killers, antibiotics, and others.
Depending on devices, the market can be considered for crowns, endodontic instruments, consumables, and others.
The end-users in the market are dentistry hospitals and clinics, research and academics, and others.
Middle East Africa, Europe, the Americas, and Asia Pacific are the primary markets for root canal.
The Americas stands as the top market for root canal. High expenditure on healthcare, particularly in the United States (U.S.) and Canada. Moreover, the rising number of dental procedures owing to sharp penetration of dental healthcare in the U.S. and Canada works in favor of the market. High concentration of renowned hospitals, along with favorable reimbursement rates adds to the market strength. The regional market also benefits from the high number of medical devices companies in the U.S. that constantly indulge in production innovation and other marketing hacks.
Europe emerges as the second leading market for root canal. The booming medical devices industry combined with healthcare penetration as landed the region in the top league. Europe is spearheaded by countries like France and Germany. Germany could expect to have the fastest growth in the years to come as it consists of a large medical devices industry.
Asia Pacific’s rapid growth in the worldwide market has been brought on by developing nations like India and China. These countries boast of a quickly expanding healthcare sector as well as large unmet needs that are now being considered by international players to gain footage in the region. Countries in Southeast Asia like India, China and Malaysia are presumed to make a deep impact on market growth, keeping in mind the increasing penetration of the healthcare industry.
Middle East and Africa could experience steady growth, led by Gulf nations including the United Arab Emirates (UAE) and Saudi Arabia. Some other countries to watch out for include Jordan, Kuwait, Iran, and Egypt. However, market growth in Africa is estimated to be poor on account of the weak economy and volatile political conditions. Sluggish healthcare development and poor social development and tribal identities, especially in sub-Saharan Africa, could hamper the market growth in the near future.
The key contributing players in the worldwide are root canal market are Benco Dental, LM-Instruments Oy, 3M, Ultradent Products Inc., Schütz Dental GmbH, Confident Dental Equipment Ltd., Kerr Corporation, Dentsply Sirona, Pelton Crane, and others.
Sonedo has managed to raise USD 17 Million to expand the marketing of the GentleWave system, which makes use of acoustic energies to clear out a tooth’s root canal system. The technology utilizes a mixture of vortical flow, broad-spectrum acoustic energies as well as procedure fluids to disinfect and debride the root canal system.