Boyd: Global Cosmetic Dentistry Expected to Reach $27.95 Billion by 2024

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The cosmetic dentistry market is growing quickly as consumers pursue the perfect smile. Providers must keep up with the demands of these patients by making investments in new dental equipment and products.

Adrian LaTrace, CEO of Boyd Industries, advises dental practitioners to keep up with the cosmetic dentistry demand

Millennials want to project an image of success, and part of that image includes whiter, straighter, more perfect teeth.

The growing focus on cosmetic dentistry is not isolated to the United States. In fact, one report forecasts that the global cosmetic dentistry market is expected to reach $27.95 billion by the year 2024. The demand for cosmetic dentistry across the nation—and even worldwide—represents the newest growth sector in dentistry. As many dental practitioners have already noticed, increasing numbers of millennial patients are requesting cosmetic services and dental products to enhance their smiles and celebrate their individuality.

Cosmetic dentistry comprises dental procedures or products that change and improve the look of a person’s teeth, gums or bite. The focus of cosmetic dentistry is typically improvement of tooth position, color, alignment, shape and size, working towards a better-looking smile overall.1

Last year, cosmetic dentistry in the United States generated an estimated $16 billion in revenue.2 Much of this profit increase has been driven by millennial patients, and many dentists report millennials coming to them for cosmetic treatments such as teeth whitening, Invisalign and porcelain veneer application. Some dentists are also fielding requests for “dental bling”—crystal and gold jewelry that is applied to teeth.

Adrian LaTrace, CEO of Boyd Industries, explains why millennial patients are seeking more cosmetic procedures: “Almost all millennials take selfies—generally on a regular basis—to post to social media sites. They want to project an image of success, and part of that image includes whiter, straighter, more perfect teeth. Sometimes, they want to take it a step further with unique dental jewelry that really shows off their individual personality and style. They’re not afraid to invest a lot of money into getting the perfect smile—they want to look good for the world.”

It’s not just millennial consumers who are looking for cosmetic upgrades. Aging baby boomers who have more financial resources are expanding the market for more dental products.4 The American Association of Oral and Maxillofacial Surgeons has estimated that 69% of adults between the ages of 35 and 44 have lost at least one permanent tooth. The increased focus on aesthetics has led to a growing number of adults seeking tooth replacement options such as dentures, crowns, bridges, and implants. They want to keep their smiles aesthetically pleasing, and are willing to use more of their discretionary income on cosmetic treatments and procedures.

The growing cosmetic dentistry trend comes as more dental practices seek to upgrade or replace their existing dental equipment. With the evolution of computers and dental equipment since the early 2000s, dentists have come to rely on such technology in their practices as ways of better educating and connecting with patients. With new advances in dental design technology systems, dentists report spending more time on the computer than they do actually working on patients.3 These design systems can be used for a variety of cosmetic purposes, such as mapping a patient’s teeth using 3D graphics to better visualize where implants or other dental products might be used. The technology is only expected to get better, and forward-thinking dentists are already looking for ways to integrate the newest and best cosmetic dental equipment into their practice.

However, the high cost to purchase some of these systems is preventing some practices from keeping up with current trends. Additionally, many cosmetic procedures are not currently reimbursed by insurance, which could limit the market’s growth if some providers choose not to take advantage of this growing consumer base.

LaTrace points out that, “It’s true that some of these cosmetic equipment systems require a substantial up-front investment. Insurance might not pay for the cosmetic procedures you’re performing once you purchase the equipment. But to be modern—to keep up with the demands of your patients and set yourself apart from your competition—you have to be willing to update your old dental equipment and position your practice to be able to provide cosmetic dentistry services.” He explains that this is the way the market is trending, and if one is not prepared to move with it, one’s practice could be left behind.

About Boyd Industries:

Boyd Industries is a market leader in the design and manufacture of specialty dental and medical operatory equipment. Its high-quality and reliable equipment has been the choice of orthodontists, pediatric dentist, oral surgeons and other healthcare professionals for over 55 years. Boyd’s products include a full line of dental exam, treatment and surgical chairs, dental delivery systems, LED exam and surgical lighting, custom sterilization and storage cabinetry, doctor or assistant seating, and video game consoles.

Boyd’s equipment is specifically designed to provide maximum practice productivity while incorporating ergonomic characteristics for the doctor, staff and patient. As an original equipment manufacturer, Boyd uses a vertically integrated manufacturing approach to assure it meets the highest quality standards. This approach allows Boyd to control each step of component fabrication and product assembly. To learn more about Boyd products, please visit http://www.boydindustries.com/home.

About Adrian LaTrace:

Adrian E. LaTrace comes to Boyd Industries with more than 25 years of leadership in companies ranging from start-ups to large public corporations in the healthcare, renewable energy and aerospace industries. His experience in developing high-performance organizations is helping Boyd to provide leadership for the dental equipment needs of the future.

Sources:
1. Cosmetic Dentistry Market: Evolving market trends and dynamics. MedGadget. October 21, 2016.
2. Cosmetic Dentistry Market Forecast to 2024—Segmented by Product & Region—Research and Markets. Business Wire. September 9, 2016.
3. Millennials look for “dental bling”. MY9NJ.com. May 11, 2016.
4. Dental Products Industry Perspective. Brocair Partners. November, 2014.

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