South Korea Dental Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Product (General and Diagnostic Equipment, Dental Consumables), Treatment (Orthodontic, Endodontic, Periodontic, Prosthodontic), and End-User (Hospitals and Clinics). The report offers the value (in USD million) for the above segments.

Market Snapshot

None
Study Period: 2019-2027
Base Year: 2021
CAGR: 6.1 %

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Market Overview

The South Korean dental devices market is expected to register a CAGR of 6.1% over the forecast period, 2022-2027.

The current COVID-19 situation has decreased the number of visits to hospitals and clinics for dental purposes, leading to a dampening of the demand for dental equipment. As per the study published in October 2021, titled 'Dental Infection and Prevention Measures in South Korea in the Absence of Restrictions on Dental Practices During COVID-19 Pandemic', since the South Korean government or the Korean Dental Association (KDA) did not impose any particular restrictions on the types of patient treatment or the number of patients, it is believed that the number of visiting patients decreased rather than the dentists reducing appointments. This indirectly indicates the degree of South Korean people’s fear of COVID-19 due to dental treatment over the last year.

Dental care in South Korea is usually of a high standard. As the medical setting and dental services are changing in the country, the significance of educating dentists in response to systemic emergencies is also increasing. The current student-oriented education paradigm is moving toward training students for forming abilities that are essential to address the daily crises that they face, while also providing them with the ability to deliver knowledge. However, this is expected to be a temporary downfall, and the market is expected to resume growth in the near future.

In South Korea, the national dental scaling insurance policy has notably increased socioeconomic inequalities in dental scaling usage. As dental care access usually requires a high individual agency, expanded dental coverage may have had limited effects in reducing inequalities and may inadvertently widen the gap. In order to reduce dental care inequalities, global access with worldwide dental coverage should be considered in the country.

As per the data published in 2021 by Statistics Korea, in 2020, the population aged 65 and over accounted for 15.7% of the total population. As per the same above-mentioned source, South Korea is projected to become a super-aged society by 2025, when the elderly population reaches 20.3% of the total population. moreover, with the increasing burden of the geriatric population in the country, the burden of dental infections and other periodontal diseases in South Korea is also expected to rise, which, in turn, is anticipated to drive the demand for dental devices, boosting the growth of the market.

Moreover, the growing number of investments and agreement in dental devices contributes to the market's growth. In January 2020, Light Instruments Ltd. signed an exclusive distribution agreement with Shinhung Co. Ltd. for the distribution of LiteTouch dental laser in South Korea. In December 2020, Medit and Straumann entered a global distribution partnership for intraoral scanners. This agreement leverages the existing partnership of the two companies for dental lab scanners. In August 2021, the firm had raised USD 20 million in a Series B funding round led by Eight Roads Ventures, Think Investments and the Mankekar Family Office. Before that, in January 2021, toothsi raised USD 5 million in Series A funding. Thus, the increase in partnerships and financing by the key players is expected to boost the growth of the studied market in South Korea.

The growing prevalence of dental infections and other periodontal diseases, increasing demand for dental care facilities and dental surgical procedures, and rising dental care personnel, coupled with technological advancements, are some of the major factors propelling the growth of this market.

However, excessive costs involved in health insurance is expected to hinder the market growth during the forecast period.

Scope of the Report

As per the scope of the report, dental instruments are tools that dental professionals use to provide dental treatment. They include tools to examine, manipulate, treat, restore, and remove teeth and surrounding oral structures. Standard instruments are the instruments used to examine, restore, extract teeth and manipulate tissues. The equipment and consumables covered are limited to usage in only hospitals and clinics. The market is segmented by Product (General and Diagnostic Equipment, Dental Consumables), Treatment (Orthodontic, Endodontic, Periodontic, Prosthodontic), and End-User (Hospitals and Clinics). The report offers the value (in USD million) for the above segments.

By Product
General and Diagnostic Equipment
Dental Lasers
Soft Tissue Lasers
All Tissue Lasers
Radiology Equipment
Dental Chair and Equipment
Other General and Diagnostic Equipment
Dental Consumables
Dental Biomaterial
Dental Implants
Crowns and Bridges
Other Dental Consumables
By Treatment
Orthodontic
Endodontic
Periodontic
Prosthodontic
By End User
Hospitals
Clinics

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Key Market Trends

Dental Consumables Segment is Expected to Witness Growth Over the Forecast Period

Dental consumables include products such as implants, prosthetics, braces, crowns, dental impression materials, and others. They are used for the treatment of dental disorders such as tooth restoration, problems associated with gingival tissues, dental impairments, dental caries, and periodontal diseases. Dental consumables are one of the largest segments of the South Korean dental device market. 

Due to growing socioeconomic factors, many people have been able to afford these procedures. Moreover, the number of dentists is also growing in South Korea to meet the increasing demand for dental procedures. As per the Ministry of Health and Welfare of South Korea updates from 2022, there were 64 dentists per 10,000 inhabitants in South Korea. The ratio of dentists to inhabitants has been slowly but steadily increasing over the past years, having increased by around 33% since 2007. Owing to these factors, the market for dental consumables is further expected to increase in the future as well.

Thus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.

South Korea Dental Devices Market - 1

Competitive Landscape

As far as major players are concerned, Osstem Implant is one of the dominant leaders in the market studied. In a market dominated by global players, the company has gradually expanded its market share by focusing on the supply side. The company offers Advanced Dental Implant Research & Education Center (AIC), its own dental care training program for dentists.

Recent Development

  • In August 2021, Medit and Straumann raised USD 20 million in a Series B funding round led by Eight Roads Ventures, Think Investments, and the Mankekar Family Office. Before that, in January 2021, toothsi raised USD 5 million in Series A funding.
  • In December 2020, Medit and Straumann entered a global distribution partnership for intraoral scanners. This agreement leverages the existing partnership of the two companies for dental lab scanners. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Government Initiatives to Simplify the Regulations Governing Manufacture, Import, Export, and Sale

      2. 4.2.2 High Number of Dentists and Growing Cosmetic Dentistry

      3. 4.2.3 Technological Advancements in Dentistry

    3. 4.3 Market Restraints

      1. 4.3.1 Excessive Costs Involved in Health Insurance

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Product

      1. 5.1.1 General and Diagnostic Equipment

        1. 5.1.1.1 Dental Lasers

          1. 5.1.1.1.1 Soft Tissue Lasers

          2. 5.1.1.1.2 All Tissue Lasers

        2. 5.1.1.2 Radiology Equipment

        3. 5.1.1.3 Dental Chair and Equipment

        4. 5.1.1.4 Other General and Diagnostic Equipment

      2. 5.1.2 Dental Consumables

        1. 5.1.2.1 Dental Biomaterial

        2. 5.1.2.2 Dental Implants

        3. 5.1.2.3 Crowns and Bridges

        4. 5.1.2.4 Other Dental Consumables

    2. 5.2 By Treatment

      1. 5.2.1 Orthodontic

      2. 5.2.2 Endodontic

      3. 5.2.3 Periodontic

      4. 5.2.4 Prosthodontic

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Clinics

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 3M Company

      2. 6.1.2 Coltene Group

      3. 6.1.3 Dentium

      4. 6.1.4 Dentsply Sirona

      5. 6.1.5 Geistlich Pharma

      6. 6.1.6 Ivoclar Vivadent AG

      7. 6.1.7 Osstem Implant Co. Ltd

      8. 6.1.8 Shinhung Co. Ltd

      9. 6.1.9 Straumann Group

      10. 6.1.10 Zimmer Biomet

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The South Korea Dental Devices Market market is studied from 2019 - 2027.

The South Korea Dental Devices Market is growing at a CAGR of 6.1% over the next 5 years.

3M Company, Dentsply Sirona, Zimmer Biomet, Osstem Implant Co Ltd, Dentium are the major companies operating in South Korea Dental Devices Market.

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