Chile Dental Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The Chilean dental devices market is expected to witness a CAGR of 4.6% during the forecast period.

The COVID-19 pandemic posed serious challenges to healthcare systems worldwide. It was largely controlled by drastically cutting down in- and outpatient services for dental diseases and implementing prevention and control measures. The pandemic adversely impacted the growth of the dental devices market in the country. However, as per the study published by BioMed Research International in March 2022, in response to the COVID-19 pandemic in Chile, a semi-essential technological platform was created to help urgent and priority dental care for the elderly. This technology, which is integrated into a mobile dental clinic, could aid older people who find it difficult to seek out conventional dental care during the pandemic. It helped the patients to know their conditions and seek dental procedures. With relaxations in COVID-19 restrictions and the resumption of dental services, the demand for dental treatment is expected to increase, which may boost the demand for dental devices in Chile over the forecast period.

Certain factors that are propelling the market's growth are the increasing burden of oral diseases, the aging population, and technological advancements like the use of CAD/CAM for teeth design.

Government initiatives for dental care are also aiding the market's growth. For instance, as per the WHO Oral Health Country Profile, 2022, the highest total population eligible to receive oral health intervention services by the Chiliean government was estimated at 80% of the population in 2021. As per the same source, the interventions comprise routine and preventive oral healthcare, essential curative oral healthcare (non-surgical extraction and drainage of abscesses), advanced curative oral/dental care (resin composite and dental amalgam, including X-rays, complex fillings, and root canal treatment) and rehabilitative oral healthcare (crowns and bridges, dentures, orthodontics, and dental implants). These government initiatives may help people seek dental or oral services, which may boost the market over the forecast period.

However, the lack of proper reimbursement policies and awareness in the country may hinder the market's growth over the forecast period.

Key Market Trends

Prosthodontics Segment May Register a High CAGR in the Market During the Forecast Period

The prosthodontics segment is expected to witness significant growth in the Chilean dental devices market over the forecast period due to the higher adoption of prosthetics and the presence of a well-established healthcare system. As prosthodontic dentistry has a wide range of tools used for dental corrections, there is a huge application of prosthodontic equipment.

In addition, according to the OECD Economic Surveys 2021, Chile has a mixed healthcare system, with health coverage provided either by the state-funded National Health Fund or by FONASA, which covers 78% of the population, and 22% are enrolled with private insurers (ISAPRE). The plans for dental healthcare coverage in the ISAPRE-insured population vary substantially, with private health facilities receiving the majority of the attention. Thus, the health coverage in the region, which includes dental services, is expected to drive the segment in the future.

As per the World Population Dashboard of UNFPA 2022, the population aged 65 years and older in Chile accounted for 13% of the total population. Hence, the significant burden of old age is expected to drive the segment as the old age population is more prone to dental caries and tooth loss.

Dental Implants Under Dental Consumables Segment May Hold a Significant Share in the Market During the Forecast Period

Dental implant surgery involves replacing tooth roots with metal, screw-like posts and missing or damaged teeth with artificial teeth that closely resemble real teeth in appearance and function. The segment is expected to grow due to a surge in the adult population in Chile and the availability of dental insurance schemes. These factors are also increasing the demand for dental implants in the country.

For instance, the surging geriatric population is also contributing to the market's growth. For instance, according to the statistics published by the World Bank Population Prospects 2022, the population aged 65 and above in Chile was estimated at 2,471,958 compared to 2,392,386 in the previous year. Thus, the rising geriatric population in the country is expected to increase the demand for dental implants as this population group is more vulnerable to age-related dental conditions, such as root or coronal caries and periodontitis.

As per the report published by Dentaly.org in March 2022, the annual cap for the Delta Dental Chile plan is USD 2,000. There are no waiting periods for any services under this dental insurance plan, including costly services like implants. Thus, with such dental insurance plans, the demand for dental implants is expected to grow and boost the market in the future.

Competitive Landscape

The Chilean dental devices market is moderately competitive with few market players. New product developments and strategic collaborations are the key strategies adopted by the companies to gain a competitive edge. The key players in the market, with strong financials, product portfolios, and regional presence, are expected to grow exponentially.The presence of a large number of players are accelerating the growth of the Chilean dental devices market. Some of the key players in the market are Planmeca Oy, Danaher Corporation, Carestream Health Inc., Dentsply Sirona, and Straumann Holding AG.

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