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2024 U.S. Industry Statistics & Market Forecast - Dental Laboratories
Market Size & Industry Statistics
The total U.S. industry market size for Dental Laboratories:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The dental laboratories industry is experiencing several significant trends that are shaping this sector. One trend is the increasing demand for dental cosmetic procedures, such as teeth whitening, Invisalign, and porcelain veneers. This demand is driven by consumers' desire for a perfect smile, which has encouraged dental labs to invest in state-of-the-art technology to offer these services.Another trend that is impacting the industry is the increasing use of digital dentistry. Digital dentistry enables dental labs to utilize digital workflows in designing and fabricating dental prostheses, making the process more efficient, accurate, and streamlined. This trend is fueled by an expanding number of dental software solutions and innovative technologies that offer high-quality dental restorations to patients.
The aging population of baby boomers is also driving growth in the dental laboratories industry. This demographic has a higher incidence of missing teeth, periodontal disease, and tooth decay, leading to an increase in demand for dental implants, crowns, and bridges. As a result, dental labs are expanding their offerings to meet the demographic needs and expectations for high-quality dental prostheses.
Finally, the increasing concerns over patient safety and regulatory compliance are shaping the industry. This trend has caused dental labs to invest in advanced technologies and best practices to ensure the safety and accuracy of dental prostheses. In conclusion, the dental laboratories industry is experiencing several key trends that are impacting growth, expansion, and innovation.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Dental Laboratories company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Dental Laboratories industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Dental Laboratories measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
|
| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
|
| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 8% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 6% | |||
| Architecture and Engineering Occupations | 9% | |||
| Engineers | 7% | |||
| Office and Administrative Support Occupations | 10% | |||
| Production Occupations | 50% | |||
| Assemblers and Fabricators | 13% | |||
| Miscellaneous Assemblers and Fabricators | 12% | |||
| Metal Workers and Plastic Workers | 8% | |||
| Other Production Occupations | 24% | |||
| Dental and Ophthalmic Laboratory Technicians and Medical Appliance Technicians | 13% | |||
| Dental Laboratory Technicians | 9% | |||
Dental Laboratories Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Dental Laboratories industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Dental Laboratories industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Dental Laboratories industry. |
Source:
Innovation News
- Jan 24, 2024: Universal Orthodontic Lab trademarks "PERIOMAX" - Oral irrigators for use in dentistry
- Oct 12, 2023: Dentca patents Clip For Coupling To Scan Body For Accurate Intraoral Scanning
- Oct 12, 2023: Dentca patents Clip For Coupling To Scan Body For Accurate Intraoral Scanning
- Aug 12, 2023: Cayster trademarks "" - Software for use in the field of dentistry
- Jul 20, 2023: National Dentex patents Bone Foundation Guide System And Method
- Jun 24, 2023: Integrity Dental Services trademarks "INTEGRITY DENTAL SERVICES" - Dental laboratory services
- Jun 20, 2023: XinVivo raises $10 million in funding.
- Aug 29, 2019: XinVivo raises $25 million in funding.
- Apr 08, 2019: XinVivo raises $20 million in funding.
Recent Federal Contracts for Dental Laboratories- Apr 02, 2024: BURBANK DENTAL LABORATORY, INC. (Burbank, CA) awarded $10,774
- Apr 02, 2024: KEATING DENTAL ARTS INC (Irvine, CA) awarded $171,902
- Mar 28, 2024: SOMER INC (Zionsville, IN) awarded $329,000
- Mar 27, 2024: HARRIS-WILLIAMS DENTAL LABORATORY (Richmond, VA) awarded $456,705
- Mar 25, 2024: GKY DENTAL ARTS, INC. (Torrance, CA) awarded $766,144
- Mar 21, 2024: IDOC DENTAL LAB, INC. (Orange, CA) awarded $227,091
- Apr 02, 2024: BURBANK DENTAL LABORATORY, INC. (Burbank, CA) awarded $10,774
- Apr 02, 2024: KEATING DENTAL ARTS INC (Irvine, CA) awarded $171,902
- Mar 28, 2024: SOMER INC (Zionsville, IN) awarded $329,000
- Mar 27, 2024: HARRIS-WILLIAMS DENTAL LABORATORY (Richmond, VA) awarded $456,705
- Mar 25, 2024: GKY DENTAL ARTS, INC. (Torrance, CA) awarded $766,144
- Mar 21, 2024: IDOC DENTAL LAB, INC. (Orange, CA) awarded $227,091
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