South Korea Dental Devices Market Size (2024 - 2029)

The South Korea dental devices market is projected to experience growth over the forecast period, driven by factors such as the increasing prevalence of dental infections, a rising demand for dental care facilities and surgical procedures, and technological advancements. Despite a temporary decline in demand due to the COVID-19 pandemic, the market is expected to recover as the situation stabilizes. Socioeconomic inequalities in dental care access and high health insurance costs may pose challenges to market expansion. However, strategic partnerships and investments in dental technology are anticipated to support market growth.

Market Size of South Korea Dental Devices Industry

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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 1.41 Billion
Market Size (2029) USD 1.76 Billion
CAGR (2024 - 2029) 4.50 %

Major Players

South Korea Dental Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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South Korea Dental Devices Market Analysis

The South Korea Dental Devices Market size is estimated at USD 1.41 billion in 2024, and is expected to reach USD 1.76 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).

The current COVID-19 situation has decreased the number of visits to hospitals and clinics for dental purposes, leading to a dampening of the demand for dental equipment. As per the study published in October 2021, titled 'Dental Infection and Prevention Measures in South Korea in the Absence of Restrictions on Dental Practices During COVID-19 Pandemic', since the South Korean government or the Korean Dental Association (KDA) did not impose any particular restrictions on the types of patient treatment or the number of patients, it is believed that the number of visiting patients decreased rather than the dentists reducing appointments. This indirectly indicates the degree of South Korean people's fear of COVID-19 due to dental treatment over the last year.

Dental care in South Korea is usually of a high standard. As the medical setting and dental services are changing in the country, the significance of educating dentists in response to systemic emergencies is also increasing. The current student-oriented education paradigm is moving toward training students for forming abilities that are essential to address the daily crises that they face, while also providing them with the ability to deliver knowledge. However, this is expected to be a temporary downfall, and the market is expected to resume growth in the near future.

In South Korea, the national dental scaling insurance policy has notably increased socioeconomic inequalities in dental scaling usage. As dental care access usually requires a high individual agency, expanded dental coverage may have had limited effects in reducing inequalities and may inadvertently widen the gap. In order to reduce dental care inequalities, global access with worldwide dental coverage should be considered in the country.

As per the data published in 2021 by Statistics Korea, in 2020, the population aged 65 and over accounted for 15.7% of the total population. As per the same above-mentioned source, South Korea is projected to become a super-aged society by 2025, when the elderly population reaches 20.3% of the total population. moreover, with the increasing burden of the geriatric population in the country, the burden of dental infections and other periodontal diseases in South Korea is also expected to rise, which, in turn, is anticipated to drive the demand for dental devices, boosting the growth of the market.

Moreover, the growing number of investments and agreement in dental devices contributes to the market's growth. In January 2020, Light Instruments Ltd. signed an exclusive distribution agreement with Shinhung Co. Ltd. for the distribution of LiteTouch dental laser in South Korea. In December 2020, Medit and Straumann entered a global distribution partnership for intraoral scanners. This agreement leverages the existing partnership of the two companies for dental lab scanners. In August 2021, the firm had raised USD 20 million in a Series B funding round led by Eight Roads Ventures, Think Investments and the Mankekar Family Office. Before that, in January 2021, toothsi raised USD 5 million in Series A funding. Thus, the increase in partnerships and financing by the key players is expected to boost the growth of the studied market in South Korea.

The growing prevalence of dental infections and other periodontal diseases, increasing demand for dental care facilities and dental surgical procedures, and rising dental care personnel, coupled with technological advancements, are some of the major factors propelling the growth of this market.

However, excessive costs involved in health insurance is expected to hinder the market growth during the forecast period.

South Korea Dental Devices Industry Segmentation

As per the scope of the report, dental instruments are tools that dental professionals use to provide dental treatment. They include tools to examine, manipulate, treat, restore, and remove teeth and surrounding oral structures. Standard instruments are the instruments used to examine, restore, extract teeth and manipulate tissues. The equipment and consumables covered are limited to usage in only hospitals and clinics. The market is segmented by Product (General and Diagnostic Equipment, Dental Consumables), Treatment (Orthodontic, Endodontic, Periodontic, Prosthodontic), and End-User (Hospitals and Clinics). The report offers the value (in USD million) for the above segments.

By Product
General and Diagnostic Equipment
Dental Lasers
Soft Tissue Lasers
All Tissue Lasers
Radiology Equipment
Dental Chair and Equipment
Other General and Diagnostic Equipment
Dental Consumables
Dental Biomaterial
Dental Implants
Crowns and Bridges
Other Dental Consumables
By Treatment
Orthodontic
Endodontic
Periodontic
Prosthodontic
By End User
Hospitals
Clinics
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South Korea Dental Devices Market Size Summary

The South Korea dental devices market is poised for growth, driven by a combination of demographic shifts, technological advancements, and increased investment in dental care infrastructure. The market is expected to expand steadily over the forecast period, with a focus on addressing the rising demand for dental devices due to the aging population and the prevalence of dental infections and periodontal diseases. The country's high standard of dental care, coupled with a growing number of dental professionals, is contributing to the market's expansion. However, the market has faced challenges due to the COVID-19 pandemic, which temporarily reduced patient visits and impacted the demand for dental equipment. Despite these challenges, the market is anticipated to recover and continue its growth trajectory.

Key factors influencing the market include the increasing burden of dental health issues among the elderly, which is expected to drive demand for dental devices. The market is also benefiting from strategic partnerships and investments by major players, such as Light Instruments Ltd. and Medit, which have entered into distribution agreements to enhance their presence in the South Korean market. Additionally, the segment of dental consumables, including implants, prosthetics, and other dental products, is expected to witness significant growth due to rising socioeconomic factors and the increasing affordability of dental procedures. Osstem Implant, along with other global players like 3M Company and Dentsply Sirona, is leading the market by focusing on supply-side strategies and offering training programs for dental professionals.

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South Korea Dental Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Government Initiatives to Simplify the Regulations Governing Manufacture, Import, Export, and Sale

      2. 1.2.2 High Number of Dentists and Growing Cosmetic Dentistry

      3. 1.2.3 Technological Advancements in Dentistry

    3. 1.3 Market Restraints

      1. 1.3.1 Excessive Costs Involved in Health Insurance

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product

      1. 2.1.1 General and Diagnostic Equipment

        1. 2.1.1.1 Dental Lasers

          1. 2.1.1.1.1 Soft Tissue Lasers

          2. 2.1.1.1.2 All Tissue Lasers

        2. 2.1.1.2 Radiology Equipment

        3. 2.1.1.3 Dental Chair and Equipment

        4. 2.1.1.4 Other General and Diagnostic Equipment

      2. 2.1.2 Dental Consumables

        1. 2.1.2.1 Dental Biomaterial

        2. 2.1.2.2 Dental Implants

        3. 2.1.2.3 Crowns and Bridges

        4. 2.1.2.4 Other Dental Consumables

    2. 2.2 By Treatment

      1. 2.2.1 Orthodontic

      2. 2.2.2 Endodontic

      3. 2.2.3 Periodontic

      4. 2.2.4 Prosthodontic

    3. 2.3 By End User

      1. 2.3.1 Hospitals

      2. 2.3.2 Clinics

South Korea Dental Devices Market Size FAQs

The South Korea Dental Devices Market size is expected to reach USD 1.41 billion in 2024 and grow at a CAGR of 4.5% to reach USD 1.76 billion by 2029.

In 2024, the South Korea Dental Devices Market size is expected to reach USD 1.41 billion.

South Korea Dental Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)