The international research body called ResearchandMarket.com has released a global report on the oral care market, which says by 2027, its growth will reach $58.56 billion at a compound annual growth rate (CAGR) of 7.1%.
According to the report, the global oral care market has experienced substantial growth, with a compound annual growth rate (CAGR) of 7.7%, leading to an impressive rise from $41.33 billion in 2022 to $44.51 billion in 2023.
The growth is attributed to the ongoing Russia-Ukraine war, which has introduced complexities to global economic recovery efforts from the COVID-19 pandemic. The war’s impact has resulted in economic sanctions, commodity price fluctuations, and supply chain disruptions, contributing to inflation across sectors and affecting global markets.
The report read: “The oral care market encompasses revenues derived from tooth-whitening products and denture care materials. It represents not only the value of goods but also services offered by providers or included within service packages. The market’s growth trajectory is expected to continue, with forecasts indicating a projected value of $58.56 billion by 2027, maintaining a compound annual growth rate (CAGR) of 7.1%.
“Recognizing the importance of oral care for maintaining overall health, the market offers a range of products, including toothpaste, mouthwash, teeth whitening agents, dental floss, toothbrushes, and orthodontic wax. These products cater to various aspects of oral hygiene and contribute to preventing infections and maintaining optimal oral health.”
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In 2022, the Asia-Pacific region held the position of the largest oral care market. The market’s scope spans across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa. As awareness about dental health’s impact on overall well-being grows, the market gains momentum. Factors such as sugar consumption, tobacco and alcohol use, and inadequate oral hygiene are recognized as contributors to oral diseases.
Technological advancements, particularly in Computer-Assisted Design/Computer-Assisted Manufacture (CAD/CAM) technology, have reshaped the oral care landscape. This technology aids in design processes using computer-based software, and Computer-Assisted Manufacture (CAM) automates production via computer-controlled equipment. CAD/CAM technology in oral care streamlines processes like tooth preparation, imaging, and in-house crown manufacturing, enhancing both efficiency and patient experiences.
Amid the challenges posed by global dynamics, including the Russia-Ukraine conflict and post-pandemic recovery, understanding the nuances of the oral care market becomes paramount. Detailed reports encompassing various geographies provide a comprehensive global perspective and form the basis for effective regional strategies, growth opportunity identification, and competitive advantage.
As the oral care market continues to evolve in response to changing conditions, its significance in maintaining overall health and well-being remains steadfast. Stay tuned for further developments in this dynamic market.
