Market Reaserch & Feasibility Study Services to Start Dental Healthcare Ventures in India

India’s dental healthcare market is experiencing a promising growth for over a decade. This article delves into the exciting growth potential, challenges, opportunities and the way forward for dentistry business in India. As of 2024, country has a total of ~ 65,000 dental clinics and 318 government-run dental hospitals. The market revenue was estimated to be USD 1.7 Billion for year 2023 and the industry is expected to grow at a CAGR of YY% from 2023 to 2027. 

India is currently producing approximately 25,000 dentists every year although the rising demand hasn’t been met.  With a population of 1.5 billion people, country have almost 3,00,000 dentists out of which 35,000 are specialists practising in various disciplines. This suggests there is one dentist per 5000 people.

Dental implants are ranked among top 5 implants in healthcare industry. Endodontics (root canal treatment) has been the largest revenue generating segment holding around ~XX% of the market share. The demand for cosmetic dentistry has witnessed a major upswing. The total market of dental equipments and products was amounted at USD 90 million for year 2023.  

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GROWTH DRIVERS BOOSTING THE DENTAL CLINIC AND CARE MARKET

1- India is under an effect of major demographic changes, due to which there is a hike in elderly population. Dental issues like gum loss and tooth decays are very common at such age, which can be a remarkable opportunity for dental healthcare Industry. Offering specialised treatment for elderly patients can gain an advantage in segment’s competitive landscape.

2- The rising tobacco consumption in the nation correlated with the increasing awareness regarding oral healthcare can be other significant growth drivers. Also, a deeper penetration of internet in tier II and tier III cities, coupled with media campaigns is boosting awareness towards oral hygiene. 

3- Due to urbanization and lifestyle changes, there’s a growing appeal towards appearance and as a result cosmetic dentistry has a spiking demand specially in tier I cities. Other macroeconomic factors such as rising disposable income, leading to higher expenditure towards healthcare is also fuelling demand. 

4- On the supply side, technological advancements in the industry have successfully increased the consumer satisfaction, with bundle of factors like reduced treatment times, comfort in service and accurate treatment outcomes, etc. AI and machine learning has also been incorporated into the segment. 

5- Dental tourism majorly contributes to medical tourism in India, reason being lower costs as compared to other developed countries. Dental implants, cosmetic dentistry and orthodontics were most demanded treatments among tourists. 

FUTURE MARKET EVOLUTION IN INDIA 

To be successful in this changing market, dental clinics must keep up with the latest trends, invest in technology and focus on patient experience. Here is what the future holds:

1- Development of artificial intelligence will enable quicker and more accurate identification of dental disorders. AI programs can mine through a patient’s records and design a treatment plan that suits his condition. With tele-dentistry, access to care will increase. Robotic-assisted surgeries will improve accuracy and lessen invasiveness.

2- Preventive dentistry will grow stronger; it will now encompass regular check-ups, cleanings, as well as oral hygiene education. Inclusion of individualized preventive care strategies based on genetic information and risk factors.

3- The demand for clear aligners has increased dramatically over the past       few years. Companies such as Toothsi have taken advantage of this trend by providing affordable and accessible clear aligner options. The global clear aligner market is projected to reach USD 4.7 billion by 2028 at a CAGR of 16.5% from 2022 to 2028.

4- Longevity and success rate of dental implantation will be improved due to development of biocompatible durable materials. Integration between orthodontics with cosmetic dentistry plus restorative dentistry would result in complete smile makeovers. Also, there’s a growth in popularity of teeth whitening and veneers.

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ORGANIZED VS UNORGANIZED PLAYERS IN DENTAL CARE INDUSTRY 

India’s dental clinic and healthcare is a blend of organised and unorganised players. Though 80% of the market consists of standalone clinics, organised players are filling up the space with multiple branches across the country and strong brand identity. Both the segments have their own pros and cons. Where organised players have a solid brand recognition, standalone centres have a local presence and strong patient relationships. Flexible pricing is also a major factor which gives an edge to unorganised players. On the other hand, renowned brands have better access to advanced technologies and standardised treatment protocols for patients. Annual revenue of dentists owning a clinic range between 4 to 18 lakhs. Organised players have a broader presence in tier I and tier II cities, whereas unorganised players are more prevalent in tier III cities and rural areas, and widely spread in tier II cities as well. 

Industry leader, clove (owned by GDS) has over 500 clinics across the country and its revenue amounted to be USD 30 million for year 2023. Smile.ai rebranded as Dezy is a prominent competitor of clove, with 300 branches and an annual revenue of USD 22 million for year 2023.  Other major players like sabka dentist, MyDentist, Partha dental, Orthosquare, Dentz dental also have a strong grip on the market. 

Vasan dental hospital is notable brand with a network of 27 dental hospitals across south India. Other hospitals such as Fortis, Medanta, Apollo, Max and Manipal etc. have ventured into the dental healthcare business lured by long term demand. 

THE WAY FORWARD: TAILOR MADE MARKET RESEARCH AND FEASIBILITY SERVICES 

The Indian dental healthcare market is ripe for substantial growth. To tap into this potential, dental clinics and chains should focus on the following:

• They can improve their efficiencies and accuracy by using intra-oral scanners, CAD/CAM systems, and digital X-ray technology among others. Additionally, AI could be used to study patient’s data, planning treatment procedures as well as risk assessment.

• Making affordable dentistry within reach of rural communities is essential. They can consider having mobile dental clinics to serve the population which is under-served in addition to collaborating with government initiatives towards enhancing oral health care in rural area.

• This requires investment in training and development of dentists. It has been observed that in urban areas there is one dentist per 5000 people while there are 1:2,00,000 for people living in rural areas of India. Moreover, expanding dental insurance coverage will make treatments more affordable.

• Awareness can be achieved through various digital platforms to reach broader audiences but also gain new patients from effective SEO, social media marketing and content marketing services provided online.

If you are business venture, individual business owner or an investment house looking to enter the Dental Care Value Chain, we at The India Watch can assist with feasibility studies, market research, and other tailor-made services. Our services include but is not limited to 

•    Market research and surveys for dental healthcare business

•    Feasibility studies & analysis for new dental clinic and healthcare business 

•    Customer behaviour analysis

•    Tailor made research and data services 

•    For any further details, drop us a mail at info@theindiawatch.com or paritosh@theindiawatch.com.

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