Endodontic Files Market Is Expected To Grow At A CAGR Of 4.8% Over The Forecast Period From 2021 To 2028
Endodontic Files Industry Overview
The global endodontic files market size is expected to reach USD 50.5 million by 2028, recording a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. Higher disposal income levels and rising awareness concerning dental care are expected to drive the market growth. In addition, the rising technological advancement in the field of alloy files and the increasing number of root canal procedures are fueling the market growth.
The government initiatives to provide dental care at subsidized rates or free of cost through the public sector for the low-income groups and dependent groups further encourages more dental visits and dental care awareness. Moreover, the regional associations dedicatedly working towards endodontic, such as the American Association of Endodontists, The Asian Pacific Endodontic Confederation, and The Australian Society of Endodontology, help in creating awareness and support and develop the members associated.
The business strategies adopted in terms of mergers and acquisitions by the key players are propelling the research and development activities resulting in the development of technologically advanced products, which are more efficient and facilitates faster treatment. In addition, it is encouraging geographical expansion, making the files available to dental hospitals, clinics, and academic hospitals worldwide.
The Covid-19 pandemic has further given a boost to the online distribution channel. However, during the initial phase of the pandemic, dental care was affected largely as the dental practices were at high risk of spreading the virus. The dental clinics had to stop the operations and later a complete structural change was needed to prevent the dentist from getting infected.
Endodontic Files Market Segmentation
Grand View Research has segmented the global endodontic files market on the basis of type, material, distribution channel, end-use, and region:
Based on the Type Insights, the market is segmented into Manual, and Rotary.
- The manual files segment accounted for the largest revenue share of over 53% of the global market in 2020. The segment is estimated to retain its leading position throughout the forecast period growing at the fastest CAGR from 2021 to 2028.
- The manual files are conventional, yet essential for initial canal negotiation, creation, maintenance of patency and glide path creation, and apical gauging and are less expensive. In addition, a combination of manual and hand files is recommended for complete root canal treatment, which, in turn, supports the segment growth.
Based on the Material Insights, the market is segmented into Stainless Steel, and Nickel-titanium.
- The stainless steeltype segment led the global market in 2020 accounting for the highest revenue share of more than 61%. The segment is estimated to remain dominant throughout the forecast period due to the high demand for stainless steel material as a result of its easier availability and cost-effectiveness.
- The NiTi material segment is expected to witness the fastest CAGR from 2021 to 2028 on account of the rising demand for technologically developed and processed files enhancing mechanical properties, further resulting in the increased flexibility, reduced procedural errors, and less instrumentation time.
Based on the Distribution Channel Insights, the market is segmented into Offline, and Online.
- The offline distribution channel segment dominated the global market in 2020, in terms of revenue, and accounted for the maximum share of more than 89%. The segment is expected to grow further at a steady CAGR from 2021 to 2028 retaining the leading position.
- The global market has been bifurcated into offline and online distribution channels. The online distribution channel segment is likely to witness the fastest growth rate over the forecast period. This growth can be attributed to the rapid advancements in online commerce networks that demand cost-effective solutions to manage the supply chain and address the changing requirements of consumers.
Based on the End-use Insights, the market is segmented into Hospitals & OPDs, Dental Clinics, and Others.
- The hospitals & OPDs segment accounted for the largest revenue share of over 52% in 2020 owing to technological advancements and an increase in scientific & clinical research activities. On the basis of end use, the global market is segmented into hospitals & Outpatient Departments (OPDs), dental clinics, and others.
- The dental clinics segment is expected to witness the fastest growth rate from 2021 to 2028. Driven by cost efficiency, rising competition for patients, and changes in practice, the trend of independent dental clinics is expected to continue to increase in the coming years. This will support the growth of the dental clinics segment.
Endodontic Files Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The advent of technologically advanced files and the growing reach of the products worldwide are some of the factors propelling the growth and competition in the market. The intense market competition has resulted in the rise in R&D activities for the development of new products to provide efficient and faster treatment.
In addition, key players are undertaking other business strategies, such as mergers & acquisitions and geographic expansions, to strengthen their market presence. For instance, the recent joint venture by Henry Schein with Casa Schmidt to expand the business in Spain and Portugal. Another example includes the strategic acquisition of MicroMega by Coltene aiming at market penetration and product portfolio expansion in endodontics. Some of the key companies in the global endodontic files market are:
- Dentsply Sirona
- Henry Schein
- Ultradent Products
- FKG Dentaire
- Ivoclar Vivadent
- Coltene
- Micro-Mega
- Brasseler Holdings, LLC.
Order a free sample PDF of the Endodontic Files Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment