KARACHI: A report published recently analyses global market trends as per the dollar soar in 2023 and categorically predicts the future costs of dental equipment used in public and private practice, distinguished between Therapeutic Dental Equipment, General Dental Devices, Dental Surgical Equipment and Dental Diagnostic Devices.
The dental equipment and supplies market research report, as published by the Business Research Company, explores the dental equipment and market statistics in 2023 as compared to the previous year. This report, claimed that the global dental equipment and supplies market rose from $22.36 billion in 2022 to $24.99 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%.
According to the report, the chances of global economic recovery post the Covid pandemic came to a halt as a result of the Russia- Ukraine war. The war between these countries resulted in the placement of economic sanctions on multiple countries, there was a sharp rise in the prices of commodities and increasing issues in the supply chain. Global inflation, therefore, ensued, affecting several markets including the dental equipment industry.
The report claims that by analysing these trends, it can be predicted that the dental equipment and supplies market is expected to rise to $38.41 billion by 2027 at a CAGR of 11.3%.
