Robotic Dentistry Market Projected to Hit $1 Billion by 2028, Driven by Technological Advancements
In a recent report by MarketsandMarkets™, the global robotic dentistry market is on a trajectory to reach a staggering $1.0 billion by 2028, showcasing a remarkable growth rate with a CAGR of 17.3% from 2023 to 2028. This surge is attributed to key factors such as technological advancements in robotic dentistry and a rising prevalence of oral diseases worldwide.
The report highlights that stand alone robots are expected to be the fastest-growing segment from 2023 to 2028. This surge is fueled by the introduction of cutting-edge technologies, providing patients with advantages such as increased accuracy and reduced time consumption. Standalone robots are particularly instrumental in minimally invasive surgeries and the precise placement of implants across various dental applications.
By the end of 2022, the dental hospitals and clinics segment held the largest share in the robotic dentistry market. This dominance is attributed to the widespread adoption of robotic dentistry in these settings, driven by an increase in the prevalence of oral diseases and a surge in dental tourism. The report suggests that this trend is likely to continue during the forecast period.
The forecast also predicts that Asia Pacific is set to be the fastest-growing region in the robotic dentistry market. Factors contributing to this growth include a growing geriatric population, an uptick in dental tourism, an increasing number of dental professionals, a rise in dental diseases, and a surge in implant procedures.
Leading players in the robotic dentistry market, including Planmeca Oy, Align Technology Inc., Intuitive Surgical Inc., DENTSPLY SIRONA Inc., and Envista Holdings Inc., are strategically positioning themselves through partnerships, acquisitions, and investments to solidify their presence in the market.
While technological strides propel market growth, challenges linger, such as the high cost of robotic dentistry and a shortage of trained dental practitioners. However, the untapped potential for growth in emerging countries presents lucrative opportunities for market expansion, hinting at a future where robotic dentistry becomes increasingly accessible and transformative on a global scale.