Teledentistry Market Worth $4.80 Billion By 2030 | CAGR 16.13%
Teledentistry Market Growth & Trends
The global teledentistry market size is expected to reach USD 4.80 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 16.13% from 2022 to 2030. The increasing penetration of the internet and smartphones in dental applications is one of the primary factors augmenting the industry growth. Furthermore, the rising geriatric population and the growing adoption of teledentistry solutions among them due to their convenience and cost-effectiveness are the key factors expected to fuel the industry growth during the projected period.
To curb the spread of the COVID-19 pandemic, the government of various countries declared complete lockdowns and travel restrictions, thereby halting the majority of dental procedures. Dentists around the world incorporated several measures to help minimize infection transmission and continue dental practices. One of the major measures was the use of virtual dentistry. These enabled patients to benefit from dental care by remotely consulting with top dentists. In addition, the support from the government in implementing virtual dental practices is enhancing the usage of teledentistry among people. Hence, the COVID-19 pandemic has significantly impacted industry growth.
The prevalence of oral diseases is increasing and this disease is considered to be one of the most common conditions globally. According to a report published by the WHO on May 15, 2022, nearly 2 billion people suffer from caries of permanent teeth and 520 million children have primary teeth caries. Hence, consulting a dentist on a regular basis to maintain oral health is a major factor in boosting the growth of the market. In addition, increasing disposable income in developing economies flourishes cosmetic dentistry adoption, which is further fueling industry growth.
Major players in the market are investing in many strategic initiatives, such as acquisitions, mergers, partnerships, and software launches, to maintain a competitive edge in the market. For instance, in January 2022, Dentulu, Inc. announced its partnership with Independa, a health hub that provides easy-to-use video chat solutions. This was initiated to enhance teledentistry services via LG television for better patient convenience. In addition, the leaders in the market are collaborating with each other to enhance the teledentistry solution portfolio. For instance, in May 2020, Koninklijke Philips N.V. collaborated with Toothpic, a leading dental e-health solution provider to launch a professional teledentistry solution. This collaboration will enable Toothpic to complement Philip’s Sonicare teledentistry solution. Such activities are expected to boost the industry growth over the forecast period.
Request a free sample copy or view report summary:
Teledentistry Market Report
Teledentistry Market Report Highlights
- The software and services component segment accounted for the largest revenue share in 2021 owing to a large number of solutions launched by key players in the market. In addition, the advancing features such as streamlining communication facilities with wireless technologies are boosting the growth
- By delivery mode, the cloud-based segment is expected to register the fastest growth rate during the projected period owing to its wide adoption among digital dentistry due to its safety and widest storage feasibilities
- By application, the teleconsultation segment accounted for the largest revenue share in 2021 as the COVID-19 pandemic has increased the usage of teledentistry for major dental consultation services. In addition, the large number of dentists available for oral health consultation is increasing the opportunity for segment growth
- By end-use, the providers segment held the largest revenue share of over 45.0% in 2021. Dental providers are getting highly accustomed to patients’ personal dental care needs through virtual sessions during pandemics. This enables the providers to prevent long waiting times for patients and reduces hospital-acquired infections
- North America held the largest revenue share of more than 35.0% in 2021. This is owing to the technological advancements in the region to implement virtual dental care and the presence of large market players operating in the region
- The market is relatively competitive owing to the presence of major players. The various strategic initiatives implemented by companies such as collaborations, acquisitions, partnerships, and product launches are significantly contributing to the growth of the market