The Australian dental care services market size stood at around USD 10.0 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
The rise in awareness amongst people regarding cosmetic dental treatment aids in improving aesthetics and maintaining the fresh breath, which is also one of the key factors positively impacting the demand for oral care products. The elderly population is one of the most common target populations in the market. This group of population is at high risk of developing various oral diseases. The Dental Services industry in Australia is the 11th ranked Health Care and Social Assistance industry by market size and the 121st largest in Australia.
Oral health affects overall wellbeing and enables people to participate in their chosen roles without discomfort or embarrassment. The Child Dental Benefits Schedule (CDBS) has been introduced by the federal government to help parents look after their children’s dental health. Dental Health Week is a community awareness program that aims to educate Australians about the significance of maintaining good oral health habits. Oral health is a basic expectation of all Australians. Whilst important, oral health is an integral part of general health.
With the development of technology, cosmetic dentistry has become even more affordable and efficient. And as consumers become more aware of their options, many are choosing cosmetic dentistry to treat their oral health. Several factors driving the rise in the cosmetic dentistry market in Australia, including:
- Rising purchasing power
- Rising demand
- More acceptance among consumers for modern technology in the dental field
The proportion of the population with private health insurance extras cover influences demand dental services, as Medicare does not cover most dental services. Consequently, increased demand from Australians with private health insurance cover for dental work provides an opportunity for revenue growth.