India Dentistry Market Analysis
The relevance of research
Most people experience dental problems on a regular basis, and many simply want to have a routine checkup to avoid further problems, which makes dental services relevant.
Purpose of the study
Analysis of the state of the dentistry market, assessment of the market size, analysis of competitors, as well as identification of factors affecting the dentistry market
Content
Part 1. Overview of the Indian Dental Market
1.1. Definition and Characteristics of the Indian Dentistry Market
1.2. Dynamics of Indian Dentistry Market Volume, 2017-2021
1.3. Market structure by type of service provided in India
1.4. Dentistry market structure by Union Territories
1.5. Assessment of current trends and development prospects of the studied market
1.6. Assessment of factors affecting the market
1.7. Analysis of sectoral indicators of financial and economic activity
Part 2. Competitive Analysis in the Dentistry Market in India
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Dentistry consumption analysis
3.1. Estimated volume of consumption of dentistry per capita
3.2. Market Saturation and Estimated Market Potential in India
3.3. Description of consumer preferences
3.4. Price analysis
Part 4. Assessment of factors of investment attractiveness of the market
Part 5. Forecast for the development of the dental market until 2026
Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators
Research excerpt
1.1. Definition and Characteristics of the Indian Dentistry Market
Consider the characteristics and features of the dentistry market in India.
...
A medical service is a product not only of the producer (doctor), but also of the consumer (patient). The quality of a medical service is formed as a result of the coordinated actions of the doctor and the desire of the patient to benefit. The result of treatment will depend on many factors: how accurately the patient follows the recommendations and prescriptions of the doctor, the timeliness of seeking medical help, lifestyle, the accuracy of the information provided to the patient about the onset of the disease and its symptoms, as well as the level of qualification of medical personnel and the nature of their actions. Based on this, a medical service in dentistry can be defined as the provision of preventive, therapeutic, diagnostic, medicinal, prosthetic, orthopedic and other types of assistance in the field of commodity-money relations. Dental services can be simple or complex. A simple service is an indivisible service, for example, diagnostic manipulation, medical examination, etc.
...
Conventionally, dental services can be divided into areas:
- therapeutic dentistry;
- surgical dentistry;
- ...
- ...
- ...
The Indian dental services market can be divided into two segments: public dental clinics and offices and private dental clinics and offices. Also, the market of dental services includes X-ray and computed tomography rooms, both private and public, since such studies can not always be carried out in a clinic.
...
1.2. Dynamics of Indian Dentistry Market Volume, 2017-2021
Consider the dynamics of the volume of the dentistry market in 2017-2021.
Diagram 1. Dynamics of the volume of the dentistry market, 2017-2021
...
In general, in the study period, the dynamics of the volume of the dentistry market in India had a multidirectional character: a decrease in the growth rate to negative values was observed in 2017 and in 2020, in 2018-2019. and in 2021, the growth rate of the market volume was quite high. The average annual growth for the study period, including 2020-2021, amounted to …%.
1.3. Market structure by type of service provided in India
Conventionally, the structure of the dentistry market can be represented as follows (diagram 2), while there are much more types of dental services.
...
1.4. Dentistry market structure by Union Territories
...
1.5. Assessment of current trends and development prospects of the studied market
Experts and market analysts note general trends for the paid medicine market, which directly relate to the commercial segment, and in some cases also affect the state segment of the Indian dentistry market:
- Expansion of the range of services provided by private clinics. In the dental sector, many clinics and dental offices, both private and public, are expanding the range of services due to the possibility of performing X-rays and / or CT scans, hygiene procedures, prosthetics - it is much more convenient for the patient to receive comprehensive services in one clinic, in turn, for private clinics and offices, this is additional profit and reaching a certain level.
- ...
- ...
- ...
- ...
- ...
1.6. Assessment of factors affecting the market
Let's consider the main factors influencing the market and, accordingly, the demand in the Indian dentistry market.
- Gross domestic product (GDP) is one of the most important macroeconomic indicators.
...
GDP is expressed in national currency, or (if necessary) converted into foreign currency at the exchange rate, and can also be presented at purchasing power parity.
...
The depreciation of the national currency against the US dollar has a negative impact on the market.
...
Growth in the cost of equipment, components, drugs and materials - the dentistry market and organizations that are operators of this market are quite dependent on import supplies, with an unstable exchange rate of the rupee against the dollar, prices for imported materials, drugs and equipment are growing, which entails an increase in cost and, as a consequence, increased prices for patients. It is also worth noting that the introduction of restrictions on the supply of drugs and materials also entail market instability.
...
Table 1. STEP analysis of factors affecting the dentistry market
...
1.7. Analysis of sectoral indicators of financial and economic activity
Let's consider industry indicators of financial and economic activity of the dentistry industry to determine the sustainability of the industry and organizations working in it.
...
Part 2. Competitive Analysis in the Dentistry Market in India
2.1. Major players in the market
Table 4. Main companies participating in the dentistry market in 2021
Operators of the Indian dentistry market, constantly operating in the market and having a stable revenue, are more than twenty thousand enterprises. The largest can be called 7 of them in terms of revenue and the list of services provided. The main activity for all the companies represented is the activity in the field of dental practice, which includes the entire range of dental services. Some clinics also have other medical services, such as cosmetology, massage and others.
2.2. Market shares of the largest competitors
...
The share of other operators of the dental market in India accounts for … % of the market volume, their shares are insignificant – less than … % for each, while it is worth noting that the number of such enterprises is quite large – more than twenty thousand.
2.3. Profiles of major players
...
Diagram 13. Dynamics of the total revenue of the largest operators in the dental market (TOP-5) in India, 2017-2021
...
In 2021, the revenue of the Indian dentistry market operators increased by … % and reached a maximum in the study period, which is associated with the revival of the dentistry market after the lifting of restrictions related to the coronavirus infection.
Part 3. Dentistry consumption analysis
3.1. Estimated volume of consumption of dentistry per capita
Diagram 14. The volume of consumption of dentistry per capita, 2017-2021, Rs./person
...
3.2. Market Saturation and Estimated Market Potential in India
...
Dental morbidity depends on many factors, primarily on the nature of nutrition, the observance of oral hygiene by the population, and the regularity of visits to the dentist. In India, dental services are provided not only by public, but also by private clinics, and the latter's commitment to preventive measures is often not observed.
...
3.3. Description of consumer preferences
All citizens of India use the services of dentists, the reasons for going to dental clinics are different for everyone: emergency pain, the need for treatment, preventive examinations, aesthetic dentistry, etc.
Since the market is currently saturated with offers of dental services from both private and public clinics, potential patients have a wide choice, which, as a rule, depends on several main factors presented in Figure 15.
...
3.4. Price analysis
The consumer price index (inflation index) is one of the types of price indices created to measure the average level of price changes for goods and services over a certain period in the economy.
...
Part 5. Forecast for the development of the dental market until 2026
...
Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators
The Indian dentistry market has a favorable investment climate, the market is at the stage of growth, the number of consumers is possible to grow due to the increase in requests from patients of the middle and older age segments - potential dentistry patients should understand the need for periodic visits to the dental office for both treatment and prevention.
...
Diagrams
Diagram 1. Dynamics of the volume of the dentistry market, 2017-2021
Diagram 2. Structure of the dentistry market by type, %
Diagram 3. The structure of the provision of dentistry in India by Union Territories,%
Diagram 4. Dynamics of India's GDP, 2014-2021, % to the previous year
Chart 5. Monthly dynamics of the US dollar against the rupee, 2017-2021, Rs. for 1 US dollar
Diagram 6. Population dynamics in India, as of 01 Jan. 2014-2022
Chart 7. Dynamics of real incomes of the population of India, 2014-2021
Chart 8. Profitability before tax (profit of the reporting period) in the field of dentistry in comparison with all sectors of the Indian economy, 2017-2021, %
Diagram 9. Current liquidity (total coverage) in the field of dentistry for 2017-2021, times
Diagram 10. Business activity (average receivables turnover period) in the field of dentistry, for 2017-2021, days days
Diagram 11. Financial stability (security of own working capital) in the field of dentistry, in comparison with all sectors of the Indian economy, 2017-2021, %
Diagram 12. Shares of the largest competitors in the dentistry market in 2021
Diagram 13. Dynamics of the total revenue of the largest operators in the dental market (TOP-5) in India, 2017-2021
Diagram 14. The volume of consumption of dentistry per capita, 2017-2021, Rs./person
Diagram 15. Importance of factors influencing decision making
Diagram 16. Forecast of the market size of dentistry in 2022-2026
Tables
Table 1. STEP analysis of factors affecting the dentistry market
Table 2. Gross Margin of the Dental Industry Compared to All Industries in India, 2017-2021, %
Table 3. Absolute liquidity in the field of dentistry in comparison with all sectors of the Indian economy, 2017-2021, times
Table 4. Main companies participating in the dentistry market in 2021
Table 5. Basic information about the participant No. 1 of the dentistry market
Table 6. Basic information about the participant No. 2 of the dentistry market
Table 7. Basic information about the participant No. 3 of the dentistry market
Table 8. Basic information about the participant No. 4 of the dentistry market
Table 9. Basic information about the participant No. 5 of the dentistry market
Table 10. Consumer price indices in the dental market in India in 2017-2022 (available period), %
Table 11. Average prices in the dentistry market by Union Territories
Table 12. Assessment of factors of investment attractiveness of the dentistry market
All reports