Stainless Crowns Market Is Estimated To Witness High Growth Owing To Opportunity To Cater The Rising Need For Aesthetics In Dentistry
Stainless Crowns Market |
Stainless
steel crowns are custom-made caps that are placed over the tooth to restore its
shape and size. They are commonly used in children's dentistry to cover and
protect weak, damaged, or decayed teeth. Stainless steel crowns are durable and
resistant to wear and damage from chewing. They also preserve the natural shape
and alignment of teeth better than other options like dental fillings or
extractions. The need for strong and long-lasting restorative solutions in
pediatric dentistry is rising with increasing consumption of cariogenic foods
and drinks among children.
The global Stainless Crowns Market is estimated to be valued at US$ 1.3 Bn in 2023 and is expected to
exhibit a CAGR of 12% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Opportunity:
With growing awareness about oral hygiene and aesthetics of smile, demand
for cosmetic and restorative dentistry is increasing. Stainless crowns blended
perfectly with the color of natural tooth can restore tooth structure and
protect remaining tooth structure as well as improve smile appearance. This
increasing focus on dental aesthetics presents a major opportunity for
manufacturers to offer customized aesthetic stainless crowns with variety of
shades and shapes. Catering to the rising need for improved aesthetics in
dentistry can help stainless crowns market gain wider acceptance going forward.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is medium as initial
capital requirement and strong branding are required to gain customer
acceptance in this matured market.
Bargaining power of buyers: The bargaining
power of buyers is medium as customers have various product and supplier
options available in the market.
Bargaining power of suppliers: The
bargaining power of suppliers is medium as raw material availability from
various suppliers helps balance out the supplier power.
Threat of new substitutes: The
threat of new substitutes is low as stainless crowns are the widely accepted
solution for restoration of decayed or badly shaped teeth.
Competitive rivalry: The rivalry in
the established players is high.
SWOT Analysis
Strength: Stainless crowns have high
durability and biocompatibility. They are corrosion resistant and offer better
aesthetic look than amalgam fillings.
Weakness: Initial cost of stainless
crowns is higher than other restorative options. Some patients may find the
metal appearance less attractive.
Opportunity: Rising awareness about
dental care and disposable income in emerging economies will drive the future
growth. Technological advancements are helping improve cosmetic look and application
techniques.
Threats: Alternatives like dental veneers and implants pose threat to certain extent. Economic slowdowns can impact discretionary spending on dental healthcare.
Key Takeaways
The Global
Stainless Crowns Market Trend is expected to witness high growth during
the forecast period of 2023 to 2030 supported by increasing demand for
long-lasting and biocompatible dental restorative solutions.
Regionally,
North America dominates the market currently owing to well-established
healthcare infrastructure and rising dental expenditures. The Asia Pacific
region is expected to grow at the fastest pace during the forecast period with
increasing accessibility of dental services and rapidly growing middle-class
population in countries like India and China.
Key players operating in the stainless crowns market are Nasco, Simulaids Inc.,
Simulab Corporation, Mentice AB, Limbs & Things, Kyoto Kagaku Co. Ltd.,
Laerdal, Canadian Aviation Electronics, 3D Systems, Gaumard Scientific Company
Inc., among others. The market leaders are focusing on new product development,
partnerships, and geographic expansion strategies to strengthen their market
presence.
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