CLEARWATER, Fla. (PRWEB) November 13, 2017
Across the world, people are taking charge of their oral health by visiting dentists and using dental products that help preserve their teeth. As a result, the global endodontics market is expected to undergo unprecedented growth over the next five years. According to industry leader Boyd Industries, market-savvy dentists should invest in high-quality, long-lasting dental equipment to meet the mounting needs of patients both young and old.
According to a recent forecast, the global endodontics market is projected to grow at a compound annual growth rate (CAGR) of 5.1% over the next five years, from $1.26 billion in 2017 to $1.61 billion in 2022.(1) The data suggests several factors as contributing to this flourishing market, including a global population that’s living longer, a growing number of general and endodontic outpatient clinics providing endodontic services to patients, and the global cosmetic dentistry tourism industry. Furthermore, more people are willing to part with hard-earned dollars for the sake of maintaining the functionality and appearance of their teeth.
Endodontists are dental specialists—they complete two to three extra years of training and specialize in providing treatments for conditions affecting a tooth’s interior, such as root canals.(2) However, even as demand for endodontic services is growing, less than 3% of all dentists in America are endodontists.(2) This provides a wealth of opportunity for dentists looking to specialize, as well as for general dental practitioners who would like to expand their service offerings.
Clinics providing endodontic services are expected to account for the majority of market growth from now until 2022.(1) To properly serve the needs of patients, dentists need to purchase appropriate dental equipment (for example, burs and files) which gives them the ability to perform common endodontic procedures such as root canals. The need for such equipment is the driving factor in global endodontic market growth within a clinical setting.(3)
Adrian LaTrace, CEO of Boyd Industries, says, “Being able to provide these services to patients means having the right dental equipment for the job. Even though this market is going to grow by leaps and bounds, dentists who don’t invest in the right tools for the job will be left behind. Investing in quality equipment now means dental professionals will be able to provide the services people are seeking out, which in turn means more revenue for clinics.”
Also of note, patients are traveling more for access to endodontic care they can’t get or can’t afford at home. People searching for cheaper care has been found to account for as much as 80% of all medical tourism—but this doesn’t mean that patients aren’t willing to spend.(4) In fact, people spend an average of $7,475 to $15,833 for each medical trip they take.(4)
LaTrace says, “Much of the popularity of dental tourism can be attributed to the oral health benefits patients are hoping for. It’s no wonder that people will travel for dental care if they can find less expensive clinics elsewhere. And in many cases, people travel because their hometown dentists simply don’t offer endodontic treatments. But regardless of their location, dentists still need to choose the right equipment that will help their patients achieve the desired results; this makes for happy patients and repeat business for dental practices nationwide.”
About Boyd Industries:
Boyd Industries is a market leader in the design and manufacture of award-winning dental operatory equipment. Its high-quality and reliable equipment has been the choice of specialists for over 60 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. The company is an ISO 13485:2016 certified manufacturer.
Boyd 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 ensure it meets high 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 leads Boyd Industries with over 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.
1. Endodontics Market worth 1.61 Billion USD by 2022. MarketsandMarkets. http://www.marketsandmarkets.com/PressReleases/endodontics.asp
2. Why Choose an Endodontist. American Association of Endodontists. http://www.aae.org/patients/why-choose-an-endodontist.aspx
3. Endodontics Market to Grow by 5.1% Through 2022. Dentistry Today. http://www.dentistrytoday.com/news/industrynews/item/2451-endodontics-market-to-grow-by-5-1-through-2022
4. Medical Tourism Is Booming for One Startling Reason. HealthZette. http://www.lifezette.com/healthzette/medical-tourism-booming-one-startling-reason/