The Global Market of Dental CAD/CAM Milling Machine market valued USD 1,683.46 Million in 2019 and projected to reach USD 3,012.96 Million, at a CAGR of 9.24% during the forecast period of 2020-2026. The high adoption of CAD/CAM systems in dentistry has led to increased use of CAM milling machines in the processes of dental restoration. The ability to process various dental materials such as zirconia, acrylic, wax, metal and many others with high precision and accuracy has helped the high adoption of CAM milling machines in the last few years, which has boosted the growth of the global market for CAM milling machines. In addition, some of the factors influencing the market growth include increasing dental service organizations, developing new dental restorative materials, patient-customized treatment approach from industry players, and increasing cosmetic dental treatment.
Technological innovation in dentistry contributing significant growth to the global dental CAD/CAM milling machine market during the forecast period
The future of dentistry is expected to be more innovation-driven as increasing adoption of latest dental innovations and technologies is facilitating the growth of the global dental industry. Several new dental technologies such as dental CAD-CAM systems, dental imaging, and dental 3D printing are expected to further boost the global dental industry market growth over the next few years. In addition, various technological advancements in the dental industry will boost efficiency, making the overall treatment less expensive.
Computer-aided design (CAD) and computer-aided manufacturing (CAM) technology is becoming increasingly popular with dentists and dental laboratories. Dental CAD-CAM systems use 3D custom images to draw and design the final restorations, which help dentists to create highly effective designs and restorations in a single appointment, therefore is expected to be one of the major factors that will shape the future of dentistry.
Impact of COVID-19 Outbreak on the Global Dental CAD/CAM Milling Machine Market
Zimmer Biomet is impacted by a significant and sudden global decline in elective procedure volumes. As a result, based on preliminary, unaudited financial results, Zimmer Biomet estimates revenue growth for the first quarter 2020 will be approximately -9.5 to -10.5% on a reported basis and -8.5 to -9.5% on a constant currency basis when compared to the first quarter of 2019. During this time of COVID-19 challenge and disruption, Zimmer Biomet is taking several measures to contain costs and to further support its liquidity profile via. Modulating manufacturing output, proactively reducing certain variable costs and discretionary spending etc.
Rising medical tourism in developing nations creating an emerging opportunity in the global market
In recent years, dentistry has emerged as an increasingly popular type of medical tourism. This treatment involves traveling outside of the local healthcare ecosystem to receive services at a significantly low cost. The treatment typically takes place at the end of a vacation to make the most of the travel expenses. The majority of dental tourism advertisements target Americans for treatment in Mexico or Costa Rico and Australians for treatment in Thailand or India. Dental Tourism is an increasingly growing segment of the medical tourism industry.
The dental implant tourism in India has flourished in recent years due to high-quality of work at low prices as compared to other countries. Government and industrial infrastructure favour the growth of the dental tourism in India. The opportunities, such as good quality care in India at less prices, help the country to make further progress in the field of dental tourism. The increasing influx of patients to the emerging economies for dental implant procedures are likely to offer growth opportunities for the manufacturers as well as healthcare providers and dental implant equipment suppliers in these regions.
Europe dominating the global Dental CAD/CAM milling machine market with considerable rate in upcoming years
Europe is the world’s largest market for Dental CAD/CAM systems and consumables, with Germany contributing a significant portion, followed by other regions. The factors driving the global dental milling machine market are increase in occurrence of dental disorders, the increase in geriatric population that is at high risk for tooth deformation, the increase in trauma that leads to tooth deformation and rise in technological innovations in dentistry. In the near future, however, adverse reimbursement plans for cosmetic dentistry are expected to hinder the development of the demand for dental milling machines. Advancements in medical services also contributed to an increase in the number of geriatrists. These factors are likely to boost the demand in the near future for CAD/CAM milling machines.