Oral Care Market Dynamics and Major Market Developments
According to research report oral care market is expected to grow from USD 41.56 billion in 2017 to USD 53.97 billion by 2023, at a CAGR of 4.5% from 2017 to 2022.
(IINews) - According to research report oral care market is expected to grow from USD 41.56 billion in 2017 to USD 53.97 billion by 2023, at a CAGR of 4.5% from 2017 to 2022. Oral care products are used for the diagnosis, treatment, and prevention of dental diseases; maintenance of oral hygiene; or postoperative care. These products include toothbrushes, toothpastes, mouthwashes/rinses, denture products, dental accessories/ancillaries, and dental prosthetic cleaning solutions. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.
Market Dynamics
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Drivers
Growing awareness on oral hygiene
Technological advancements in oral care products
Rising incidence of dental caries and other periodontal diseases
Restraints
Competitive pricing pressure faced by prominent players
Opportunities
Untapped emerging markets
Increasing online purchase of oral care products
Challenges
High dependence on retail stores
Key players considered in the analysis of the oral care market are Colgate-Palmolive Company (US), The Procter & Gamble Company (US), Unilever plc (UK), Koninklijke Philips N.V. (Netherlands), GlaxoSmithKline plc (UK), Johnson & Johnson (US), GC Corporation (Japan), Dr. Fresh, LLC (US), 3M Company (US), Young Innovation Inc. (US), Ultradent Products, Inc. (US), Lion Corporation (Japan), Henkel AG & Company, KGaA (Germany), Sunstar (Japan), and Kao Corporation (Japan).
Major Market Developments
In August 2016, Colgate-Palmolive Company (US) launched the Cibaca Vedshakti toothpaste in India. This product costs INR 50 (USD 0.78) for 175 grams, which is around 30% cheaper than the Dant Kanti toothpaste, a product from Patanjali Ayurved Ltd. (a prominent local player in India).
In 2016, Koninklijke Philips N.V. (Netherlands) introduced Sonicare FlexCare Platinum Connected electric toothbrush. This electric toothbrush is rechargeable and feature inbuilt ultrasonic technology, which aids the safe and effective removal of dental plaque and reduces the chances of gingival inflammation and bleeding.
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Technological innovation in oral care products drives the growth of the oral care market.
Product innovation has enabled the development of technologically advanced and easy-to-use oral care products such as electrical toothbrushes and vibrators. Players such as The Procter & Gamble Company (US) and Koninklijke Philips N.V. (Netherlands) are increasingly focusing on innovation in the market. These players are focusing on the development of application-based toothbrushes and smart electric toothbrushes, which are connected to a smartphone with the Bluetooth technology. Recently, some major players launched interactive toothbrushes equipped with position detection and motion sensor technologies. These toothbrushes screen the oral cavity to provide a real-time guidance for brushing and maintaining oral health. The development of such innovative products enables users to track oral care habits and improve oral health. Owing to these advantages, end users are willing to spend more on advanced products; this, in turn, is expected to drive the growth of the market in the coming years.
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Datum: 26.02.2020 - 14:41 Uhr
Sprache: Deutsch
News-ID 1796133
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