LONDON--(BUSINESS WIRE)--The global endodontics devices market is expected to grow at a CAGR of more than 5% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global endodontics devices market by product (consumables and instruments and equipment) and by end-user (dental hospitals and dental clinics and dental academic and research institutes). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increase in online product sales
The manufacturers involved in the development, marketing, and sales of various endodontics devices use the online platform to boost their sales and brand equity. The companies are concentrating on their online marketing and promotional activities that provide wide access to various endodontic products. A large pool of end-users, particularly dentists from small clinics, prefer online purchases through various online platforms such as e-commerce, retails, and directly from the online websites of the manufacturers. Online sales have become a part of life for businesses and customers due to the development of technology and increasing capabilities of the internet.
According to a senior analyst at Technavio for orthopedics and medical devices research, “The websites can be accessed using smartphones with inbuilt search features that provide expanded product information and an easy-to-navigate interface to satisfy the needs of the dental professionals. The complete details about a product and its related information will be available on the websites with images. This will make searching simple and help to choose the right product.”
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Market trend: product bundling
The global endodontics devices market is witnessing a rapid growth rate because of the increasing adoption of product bundling strategies by market players. Several companies are implementing product bundling strategy and are providing a combination of two or more products or services. Product bundling encourages the end-users to buy more products instead of a single product. The end-users consider using such bundled product offerings because they can be more cost-effective. In addition, it helps dentists to receive all the related products in one box. This marketing strategy has helped several vendors in the market, which is promoting market growth.
Market challenge: high cost of endodontics devices and procedures
Dentists assess the tooth condition for treatment that differs from one dental clinic to another. The cost of endodontic treatment includes consultation, treatment, and additional cost for diagnostic imaging, and revisit due to the fault in the treatment. The endodontic procedure involves two appointments, one for cleaning and shaping the tooth's root canal system, another for filling and sealing the tooth. Dentists charge a higher fee for these procedures compared with other services.
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