China’s dental industry is thriving as it emerges as a key player in many global markets. Improving living standards, greater awareness of oral health, and increased demand for dental services all are driving this growth, according to analysts at Research and Markets.
For example, there were 54 dental equipment enterprises with a total annual revenue of 4.61 billion RMB in China by the end of 2016. Research and Markets expects these figures to reach 75 firms and 6.55 billion RMB in 2021.
Also, the number of stomatological hospitals and dentists in China grew at a 10.2% compound annual growth rate from 2010 to 2016. In 2016, there were about 542 stomatological hospitals in the nation, including 373 private ones, and 48,053 medical staff, including 16,348 medical practitioners.
Many key major private dental institutions, meanwhile, have adopted a model based on chain operation and have seen positive results. Research and Markets expects a high and full chain operation to be the main pattern that dental institutions adopt to grow bigger and stronger.
And due to its high growth and high gross margin, the oral medical industry in China has attracted a large amount of money. Research and Markets reports that 12 dental enterprises obtained financing in 2016 alone. This inflow of capital, the analysts note, is helping to fuel the industry’s rapid development.