The burgeoning elderly population will spur demand, providing a boon to the industry.
New York, NY (PRWEB) August 01, 2014
Over the past five years, the Cosmetic Dentists industry have benefited from innovative technologies that have enabled cosmetic dentists to provide cosmetic treatments that resemble a patient's tooth color. Moreover, the burgeoning elderly population has stimulated demand for cosmetic dentistry due to age-related tooth ailments. Due to long-term use of medications, which may cause tooth decay, many elderly individuals have demanded dental fillings, veneers and implants. As more elderly individuals keep their natural teeth longer as they age due to improved technologies and treatment, more individuals require periodontal care, such as periodontal plastic surgery to correct gum irregularities; this further exacerbates demand for industry services from this demographic.
While rising demand for implants and orthodontics has provided a boon to the industry, many cosmetic dentists still relied on other services, such as crowns, bridgework, bonding, veneers and whitening, to derive revenue over the past five years. During the period, although many dental insurance providers did not include coverage for industry services, many dental insurers included services to restore tooth structure or improve a patient's oral health. During the five years to 2014, industry revenue is anticipated to grow at an annualized rate, including growth in 2014. This is due to strong demand for cosmetic procedures from individuals aged 31 to 50, with this demographic comprising the largest share of industry revenue, which can be partly attributed to their relatively high disposable income. Profit is expected to rise, due to many cosmetic dentists joining larger practices, such as dental practice management companies. Consequently, this will enable cosmetic dentists to share operational costs and expand their product portfolio, thereby keeping more patient referrals in-house.
The Cosmetic Dentists industry is characterized by a low level of market share concentration, which can be partly attributed to the highly fragmented nature of the industry. During the next five years, industry revenue is forecast to grow at an annualized rate. While the aging population will provide opportunities, such as strong demand for teeth whitening and tooth replacement services, the industry will potentially contend with a shortage of dentists. Therefore, the number of dentists that are expected to retire will outpace the number of new practitioners, thus constraining the industry's ability to provide cosmetic procedures, which will hamper industry revenue.
For more information, visit IBISWorld’s Cosmetic Dentists in the US industry report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld.
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189.
IBISWorld industry Report Key Topics
The Cosmetic Dentists industry includes companies that primarily provide elective dental services that improve the appearance of teeth, gums or smiles. It includes cosmetic crown and bridgework, veneers, inlays and outlays, direct bonding and whitening procedures, which are not generally covered by insurance, making them highly discretionary.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.