Singapore Dental Services Market Trends, Growth, Industry Share, Challenges, Future Opportunities and Forecast Analysis 2033: SPER Market Research
The need for dental services is greater than it was in the past since dental operations offer a wide range of therapies that help many people improve their oral health and cleanliness. People are also becoming more aware of the long-lasting popularity of smile makeover procedures, which have proven to be the most profitable industry for the majority of service providers in the field. Growing recommendations from dentists to choose more specialized treatment modalities in order to achieve better outcomes has contributed to the need for a wide range of dental treatment services. As additional discoveries and innovations become accessible to the general public, it is projected that an increasing number of patients will make use of these services in the years to come.
According to SPER market research, ‘Singapore dental services Market Size- By Type of Services, By End User, By Dental Clinics, By Revenue Division- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Singapore Dental Services Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.
The percentage of the population 65 years of age and above is expected to quadruple in Singapore over the next 17 years, making it one of the fastest aging societies in the world. Although Singapore’s targeted subsidy approach has reduced the cost of primary care in public polyclinics and inpatient care in public hospitals, especially for low-income residents, it has unintentionally created out-of-pocket payment gradients that favour patients who choose to receive care in polyclinics. More Singaporeans are able to pay for dental care, including pricey procedures like orthodontics and cosmetic dentistry, as income levels grow. Due to their increased discretionary incomes, expats (foreign nationals living in Singapore) may contribute to a rise in the country’s dental care usage.
There are several other factors that limit the market, such as the high cost of dental services in Singapore, particularly for orthodontics and implant dentistry. Some people may find this challenging, particularly those from low-income households. Some people might not have easy access to dental care, especially those who live in rural or isolated places. This might be because there aren’t any dentist offices nearby or there isn’t enough transportation to get to the clinics that are farther away. Fear of dental procedures prevents some people from visiting the dentist. This can be a major obstacle, especially for those who have had bad dental care experiences in the past. In Singapore, dental insurance coverage can be limited, making it unaffordable for some people.
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The Singapore dental services market was severely impacted by the COVID-19 pandemic. Lower patient volumes and revenue were the outcome of many dental clinics taking a break or limiting their services due to the epidemic. In addition, travel limitations have made it harder for foreign dentists to practice in the nation, which has made the already acute shortage of dental professionals worse. Dental clinics have created more safety measures in an effort to adapt, but doing so has raised operating costs and hurt their capacity to remain financially viable.
According to geographic analysis, North America held a dominant revenue share in the worldwide dental services market in 2020 and is expected to continue to do so during the forecast period. Asia Pacific and Europe trailed North America. The dental services market in North America has grown dramatically as a result of rising dental caries instances, high disposable income, increasing awareness of oral health issues, and quicker acceptance of new technologies. Some of the market key players are advanced Dental Company, Family Dental Centre, Greenlife Dental, Healthway Singapore, and others.
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Singapore Dental Services Market Outlook
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