By Ovunc Kutlu
ANKARA (AA) – Cosmetic dentistry market's revenue is estimated to reach $27.4 billion by 2028, according to a report by US-based business consulting firm Grand View Research on Tuesday.
The market size is estimated to expand at a compound annual growth rate of 5% between 2021 and 2028, due to more people opting for improvement of their dental aesthetics every year.
While the market's value was $6.9 billion in 2020, this amount is forecast to increase by more than 180% to reach $19.5 billion this year, according to the report.
"Developing countries have generated a large amount of disposable income, which is the main reason why cosmetic dentistry is flourishing," the report said.
"Dental tourism has been an important reason that has caused cosmetic dentistry to prosper globally," it added.
North America led the cosmetic dentistry market last year with new developments in technology and increase in number of patients choosing new procedures.
The Asia Pacific region is expected to grow significantly in the next eight years as a larger part of population would have more disposable income.
The consulting firm noted that dental systems, equipment and their related products had the biggest share in dental industry last year.
