The global Stainless Crowns Market is estimated to be valued at US$ 1.3 billion in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Stainless crowns are dental devices used to restore damaged or decayed teeth. They provide durability and strength, making them suitable for children and individuals with extensive tooth damage. Stainless crowns are cost-effective and easy to place, offering numerous advantages such as resistance to fractures, corrosion, and wear. The need for stainless crowns is driven by the rising prevalence of dental diseases, increasing dental procedures, and the growing demand for cosmetic dentistry.
Market Key Trends:
One key trend in the stainless crowns market is the rising adoption of digital dentistry. Digital dentistry involves the use of advanced technology such as computer-aided design (CAD) and computer-aided manufacturing (CAM) systems to design and fabricate dental restorations. This trend is driven by the advantages it offers, including improved accuracy, reduced chair time, and enhanced patient satisfaction. Digital dentistry enables customization and precision in crown fabrication, leading to better fitting and aesthetics. It also enables efficient workflow management and better communication between dental professionals and dental laboratories. With ongoing advancements in digital dentistry, the adoption of digital techniques in stainless crown fabrication is expected to increase significantly in the coming years.
Threat of new entrants: The threat of new entrants in the stainless crowns market is relatively low. This can be attributed to the high barriers to entry, such as the need for specialized equipment and expertise in dental restoration, as well as the established market presence of key players.
Bargaining power of buyers: The bargaining power of buyers in the stainless crowns market is moderate. While buyers have a relatively high level of price sensitivity and can compare prices among different suppliers, the limited number of key players and the necessity of dental restoration procedures give suppliers some leverage in negotiations.
Bargaining power of suppliers: The bargaining power of suppliers in the stainless crowns market is moderate to high. Key players in the market, such as Dentsply Sirona and Ivoclar Vivadent, have strong brand recognition and established distribution networks. Suppliers also have the ability to differentiate their products based on quality and technology, giving them some power in negotiations.
Threat of new substitutes: The threat of new substitutes in the stainless crowns market is low. Currently, stainless crowns are considered to be a cost-effective and durable option for dental restoration. While there are alternative materials available, such as ceramics and composite resin, stainless crowns are widely accepted by both dentists and patients.
Competitive rivalry: The competitive rivalry in the stainless crowns market is high. Key players in the market are constantly innovating and introducing new products to gain a competitive edge. The market is also characterized by intense competition based on factors such as price, product quality, and distribution channels.
The global stainless crowns market is expected to witness high growth, exhibiting a CAGR of 6.6% over the forecast period of 2023-2030. This growth can be attributed to the increasing prevalence of dental caries and the growing demand for cost-effective dental restoration options. As more people become aware of the benefits of stainless crowns, the market is expected to expand.
In terms of regional analysis, North America is expected to be the fastest growing and dominating region in the stainless crowns market. This can be attributed to the presence of well-established healthcare infrastructure, a high prevalence of dental caries, and increasing adoption of advanced dental restoration technologies. Europe is also anticipated to witness significant growth due to the rising geriatric population and increasing dental care expenditure.
Key players operating in the stainless crowns market include Dentsply Sirona, Ivoclar Vivadent, Modern Dental, 3M, Glidewell, Danaher, Zirkonzahn, Amann Girrbach, Coltene, and Pritidenta. These key players are focusing on product innovation, strategic collaborations, and mergers and acquisitions to strengthen their market position and gain a competitive advantage. They are also investing in research and development activities to develop advanced and technologically superior stainless crown products.
In conclusion, the stainless crowns market is poised for significant growth in the coming years. Factors such as the increasing prevalence of dental caries, growing demand for cost-effective dental restoration options, and advancements in dental restoration technologies are driving market growth. However, intense competition among key players and the presence of alternative materials pose challenges to market growth. Nonetheless, strategic initiatives by key players and the rising awareness about the benefits of stainless crowns offer promising opportunities for market expansion.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it