Growth Drivers
Growing Prevalence of NUG and Other Oral Diseases with Lack of Awareness among People – Most people across the world do not consider dental problems as a major issue owing to a lack of knowledge. The presence of only fluoride water and the use of fluoride toothpaste for a longer time is also estimated to cause oral problems. Also, many low-income countries have less education regarding oral health and low or no spending capacity for healthcare. Additionally, the increasing age also causes many oral issues such as gum swelling, tooth decay, cavities, damaged teeth, and plaque formation which are left untreated.
As per the data from the Centers for Disease Control and Prevention in 2019, 1 in 5 people in the U.S. which is over 25% of the adult population are living with untreated dental cavities.
High Cases of Diabetes and Other Lifestyle Diseases with Poor Eating Habits – The incidence of diabetes increases the risk of worsening wounds and any other injuries as they are immune suppressed. The number of people diagnosed with diabetes in the U.S. was estimated to be over 28 million i.e., 11% population, and more than 37 million people which is 9% population had diabetes in 2019.
Growing Consumption of Tobacco and Other Related Products – More than 80% of people across the world who use tobacco are estimated to be present in low and middle-income countries as of 2022.
Increasing Population with Habits of Drinking Alcohol Across the World – Alcohol contains fermented bacteria that is used for the fermentation of alcohol which gets deposited on the teeth every time you drink. The percentage of people who binge drink alcohol as of 2020 was estimated to be over 20% in the U.S. and more than 6.5% of American people developed alcohol use disorder (AUD).
High Number of People Suffering from Nutritional Deficiencies – Lack of vitamin B12, iron, niacin, and vitamin B13 and low availability of essential nutrients is estimated to lead to gingivitis. The number of people suffering from undernourishment increased to more than 130 million people across the world during 2019-2022.
Challenges
Not everyone is worried about decayed teeth until it bothers with pain, swelling, and bleeding. People neglect oral hygiene as it does not affect them very much and poverty in many countries is also estimated to hinder the growth of the market in the coming years.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
12.1% |
Base Year Market Size (2024) |
USD 1.13 billion |
Forecast Year Market Size (2037) |
USD 4.99 billion |
Regional Scope |
|
Author Credits: Radhika Pawar
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