The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Sept. 20, 2023 /PRNewswire/ -- As per The Business Research Company's Teledentistry Global Market Report 2023, the global teledentistry market is poised for substantial growth, with expectations to expand from $1.51 billion in 2022 to an estimated $1.78 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 17.6%. This upward trajectory is set to continue, culminating in a market size of $3.35 billion in 2027, with a projected CAGR of 17.1%. The driving force behind this remarkable teledentistry market growth is the escalating burden of oral diseases globally.
Oral Disease Burden
Oral diseases, including dental caries, periodontal disease, and oral cancer, impose a significant health and economic burden worldwide. The World Health Organization (WHO) estimated that nearly 2.5 billion people globally suffer from various forms of oral diseases. This burden translates into annual direct costs of approximately US$ 387 billion and indirect costs of another US$ 323 billion. Notably, dental caries remains the most prevalent untreated condition worldwide, impacting 1 billion people.
Teledentistry emerges as a vital solution to combat this oral disease burden, enhancing oral health outcomes. Teledentistry facilitates remote consultation, monitoring, education, and training, providing accessible and cost-effective dental care.
Learn More On The Teledentistry Market Report – https://www.thebusinessresearchcompany.com/report/teledentistry-global-market-report
Competitive Landscape
The teledentistry market exhibits concentration, with key players dominating the landscape. In 2022, the top ten competitors collectively accounted for 47.92% of the teledentistry market. Leading the pack was SmileDirectClub, commanding a 17.32% teledentistry market share, closely followed by Koninklijke Philips N.V. with 14.14%. Other prominent players in the teledentistry market include Align Technology, Inc., Patterson Companies Inc., The TeleDentists, Dentulu Inc., Toothpic, Medvivo, Sesame Inc., and Virtudent, Inc.
AI-Powered Solutions
Innovative teledentistry companies are integrating artificial intelligence (AI) to assist dentists in crafting personalized treatment plans for patients. For instance, in November 2021, SmileDirectClub introduced SmileOS™, a telehealth platform powered by AI. This next-generation system leverages data from over 1.5 million clear aligner treatment plans, optimizing precise tooth movements to achieve a straighter smile.
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Market Segmentation
The global teledentistry market is segmented along several dimensions:
- Component: Hardware, Software, and Services.
- Delivery Mode: On-Premise, Cloud-Based.
- Application: Tele-consultation, Remote Patient Monitoring, Education, and Training.
- End-Use: Providers, Patients, and Other End-Users.
Within the market segments, the software and services category stands out, poised to generate $1,359.2 million in global annual sales by 2027.
Regional Dynamics
In 2022, North America emerged as the largest region in the teledentistry market, accounting for 39.1% of the total market share. Asia-Pacific followed closely, with other regions in tow. Looking ahead, the Middle East and Asia-Pacific are projected to experience the fastest growth, with CAGRs of 21.5% and 19.7%, respectively.
The Teledentistry Global Market Report 2023 by The Business Research Company (TBRC), offers a strategic compass for industry players and stakeholders. It provides invaluable insights into teledentistry market trends, competitive landscapes, and emerging opportunities. As teledentistry companies focus on innovative solutions like AI-powered treatment planning, the TBRC report equips industry leaders with the knowledge needed to make informed decisions and navigate the evolving market landscape effectively. It serves as a roadmap for harnessing the immense growth potential within the teledentistry market, ultimately contributing to improved oral health outcomes globally.
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