Demand for dental healthcare seems to be picking up from the slump in visits to clinics and hospitals last year due to the outbreak of COVID-19. This is a major positive for the dental supplies market. Notably, per a
report by Grand View Research, the global dental equipment market was valued at $5.4 billion in 2020 and is estimated to witness a CAGR of 12.1% from 2021 to 2028. The report mentioned that some of the factors that can contribute to the market’s growth include an expanding geriatric population that is suffering from oral diseases as well as government initiatives to boost public oral health care.
Moreover, the report stated that the introduction of more efficient and advanced equipment is expected to provide a further boost to the market. Meanwhile, dental disorders like “periodontal disease, oral cancer, and environmental injuries resulting from Oro-dental trauma” are also expected to help the market grow.
Notably, the COVID-19 pandemic proved to be a hindrance for the market last year. The report mentioned that routine dental care was largely unavailable as many dental procedures had to be closed on grounds of being elective procedures. Even though the cost of availing dental care might rise, the report stated that the market is estimated to see positive changes in offering safe care.
Notably, the report mentioned that North America is estimated to emerge as the most promising market during the forecast period. Some of the factors which might contribute to this growth include a growing geriatric population as well as a strong medical infrastructure along with well-established reimbursement policies.
In fact, the report stated that North America dominated the dental equipment market in 2020 and accounted for the highest revenue share of 38.2%. Notably, a
survey conducted by the American Dental Association last year found that 99.7% of the respondent dentists had implemented “enhanced infection prevention and control procedures.” This included measures like disinfecting equipment and surfaces, checking the temperature of patients and staff, screening of patients for COVID-19, and so on. Moreover, 99.6% of dentists reported the use of personal protective equipment while treating patients. 4 Stocks to Watch Out For
The dental equipment market seems poised to witness growth going forward as dental healthcare continues to recover from the slump brought about by the COVID-19 pandemic. Hence, this seems to be a prudent time to look at names focused on dental supplies that stand to benefit. We have picked four such stocks that carry a Zacks Rank #1 (Strong Buy) or 3 (Hold). You can see
the complete list of today’s Zacks #1 Rank stocks here. Align Technology, Inc. ( ALGN Quick Quote ALGN - Free Report) is a medical device company that designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. The company currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has climbed 12.3% over the past 60 days. The company’s expected earnings growth rate for the current year is 71.8%. Henry Schein, Inc. ( HSIC Quick Quote HSIC - Free Report) provides health care products and services to office-based dental practitioners and laboratories, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide. The company’s Health Care Distribution segment offers dental products, including infection-control products, handpieces, preventatives, impression materials and so on. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has risen 1.4% over the past 90 days. The company’s expected earnings growth rate for the next five years is 9.1%. McKesson Corporation ( MCK Quick Quote MCK - Free Report) provides pharmaceuticals and medical supplies in the United States and internationally. Notably, the company offers its range of premier dental products. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved 5.1% north over the past 60 days. The company’s expected earnings growth rate for the current year is 13.7%. Becton, Dickinson and Company ( BDX Quick Quote BDX - Free Report) develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products worldwide. Notably, the company offers various dental supplies like syringes and needles, surface cleaners and disinfectants, patient monitoring products, endodontic products and so on. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved up 2.3% over the past 60 days. The company’s expected earnings growth rate for the current year is 25.4%. Zacks Names “Single Best Pick to Double”
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