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This article shows an overview of the current Dental Market in India.
The global dental market is growing at a rate of CAGR 5% in the last five years with the Asian markets showing highest growth of 10% followed by the US at almost half the rate of 5.5%
With over 5000 dental laboratories, 297 dental institutes, the Indian dental market is vast and it is predicted that India will be the single largest country market for dental products and materials.
The dental market is expected to have a growth rate of 20 to 30 percent, with investment groups building multispecialty hospitals offering general dentistry and specialist treatments. The current dentist to population ratio in urban area is 1:9000 and in rural areas it is 1:200000. The value of dental equipment and laboratories market itself is about US$ 90 million annually.
In the last decade the dental services scenario in India has vastly improved due to:
- Growing Healthcare Awareness
- Better Economic Growth
- Increased Healthcare Expenditure
- Investor friendly Government Policies
- Reduction on Customs Duty
A large portion of dental products are imported into the country. About 85% of India’s annual requirement is supplied by Germany, USA, Italy, Japan and China. Most of the imports are in the implants segment. Foreign companies are investing in the Indian dental equipment market by establishing their production units in India. India is rapidly becoming a manufacturing hub for supplying dental equipment and material to less developed countries such as Pakistan, Africa, Sri Lanka and parts of the Middle East.
Oral Care Infrastructure
99% of the dental market in India is private. Most practices in India are Solo with multi-operations. Several large multi national players such as Apollo Group, Wockhardt, Fortis are setting up a chain of dental clinics to tap into this rapidly growing dental market. Over 90% of the dentists work in and around major cities. As job opportunities in both the public and private sector are relatively less, most dentists set up their own private clinic. Every year approx. 12,000 to 15,000 new practices start in the country.
Dental Laboratory/Dental Technician
There is a greater demand than supply of dental technicians in India. Currently there are about 5000 dental laboratories yet only 32 colleges which offer diploma courses for the post of a dental technician. More colleges are now offering the course to match the growing demand.
Looking at India’s rapidly growing dental market many multinationals like KAVO G C, Ivoclar – Vivadent, Dentsply, 3M, Nobel Biocare, Mecktron, Sirona, Aceton, Ultradent, Coltene, Voco, S S White, Shofu, and others have set up offices in India.
With the increase in number of dental laboratories and private clinics being set up, there is huge scope for the establishment of dental institutes for the training of dentists, super specialists, technicians and research. Workshops, Hands on Courses, Continuing Dental Education, and Dental Practice Accreditation are some of the areas where collaborative ventures offer scope.
Dental Tourism forms 10 percent of the total medical tourism industry and is projected to grow at 30 percent per annum by 2015 to Rs.95000 million (US$ 179,500). Learn more on Medical Tourism: Holiday Healer.
The Road Ahead
There is a huge opportunity in India for any country to maximize the investment potential that exists in India within the healthcare environment. Morulaa will explore all possibilities to promote greater investment in the healthcare sector, particularly in the dental health sub-sector, to sustain the momentum of growth in the country.