The Electric Toothbrush Market Projected to Grow at a CAGR of 5.3% and Garner a Revenue of $4,009.20 Million in the 2021-2028 TimeframeDownload Sample Reports Overview
The global electric toothbrush market was valued at $2,685.8 million in 2020, and is projected to reach $4,009.2 million by 2028, registering a CAGR of 5.3%.
COVID-19 Impact on the Electric Toothbrush Market
During the prevalence of COVID-19 pandemic, the electric toothbrush market observed a positive growth. As the corona virus became prevalent across the world, the prevalence of serious body symptoms and complications increased. Many people developed oral complications in pandemic. Due to this, the demand for advanced oral care technology like electric toothbrushes has increased drastically. Electric toothbrush provides high quality oral hygiene in less time. Such factor is expected to drive the electric toothbrush market size growth in the pandemic time period.
Electric Toothbrush Market Analysis:
Increasing prevalence of oral diseases among millennial, especially young generation, is expected to drive electric toothbrush market share growth in the forecast time period. Oral related disease cases like gum infection, plague, and tooth decay have increased at a rapid rate across the world owing to many factors such as unhealthy lifestyle and unhealthy food eating habits. Also, growing geriatric population across the world and mobility disorders with ageing are further anticipated to increase electric toothbrush market revenue in the coming years. Electric toothbrushes are the latest technology brushing devices which are widely used by the people across the world, to control and maintain oral hygiene. Such factors are likely to flourish the electric toothbrush market share growth in the next few years.
However, high cost of the electric toothbrush units and treatment is likely to restrain electric toothbrush market size growth. Also, lack of awareness among people, especially in developing countries like Bangladesh about importance of oral health and correct way to maintain it is likely to impede the market growth in future.
Due to growing demand for advanced care options for oral care, many companies in the market have got opportunities to launch new electric toothbrush range with advanced technology embedded in it. For instance, according to a news published in Digital Journal, online news portal, on March 17, 2022, Oclean, China based healthcare technology company, launched Oclean X10 smart electric toothbrush. The new product is planned to meet the needs of young tech geeks with more advanced functions, world class experience, and easy handling design concepts. Such factors are likely to accelerate the electric toothbrush market share growth in the coming few years.
Electric Toothbrush Market, Segmentation
The electric toothbrush market is segmented based on technology, head movement, and region.
Based on technology, he global electric toothbrush market is segmented into sonic and ultrasonic electric toothbrushes. The sonic electric toothbrush sub-segment is predicted to have the highest revenue in the global market and register a revenue of $2,441.20 million during the forecast period. The growth is majorly due to the fact that sonic electric toothbrushes are generally cheaper comparatively to other electric toothbrushes. Also, its movement can be easily handled by elderly people. These factors are likely to flourish the market growth in the next few years.
Based on head movement, the global electric toothbrush market is segmented into vibrational and rotational. The rotational sub-segment is predicted to have a dominating market share in the global market and register a revenue of $2,603.40 million during the forecast period. The sub-segment growth is attributed to the fact that rotational movement of electrical toothbrush is more effective in cleaning the hidden spaces in between the teeth. Also, it is very popular among children as children are unable to clean their teeth properly. Such factors are anticipated to generate huge market revenues in future.
The Asia-Pacific electric toothbrush market is expected to observe the fastest growth and register a revenue of $805.9 million in the predicted time span. The regional growth is attributed to the growing market penetration of electric toothbrushes in the developing countries like China, Japan, and India. Also, increasing cases of oral diseases like tooth decay among young population due to improper oral hygiene routine is further anticipated to have a positive impact on the electric toothbrush market share growth in the region.
Key Players in the Electric Toothbrush Market
The companies involved in the Electric Toothbrush market are
- Colgate Palmolive
- Koninklijke Philips N.V
- Procter and Gamble Co
- Water Pik, Inc.
- Shenzhen Risun Technology Co. Ltd
- SONIC Chic
- JSB Healthcare.
Porter’s Five Forces Analysis for the Electric Toothbrush Market
- Bargaining Power of Suppliers: The number of suppliers in the electric toothbrush market is increasing at a rapid pace due to which they have to optimize their product range in order to attract large number of consumers.
Thus, the bargaining power suppliers is moderate.
- Bargaining Power of Buyers: Since, the buyers are growing in number and the product demand has also increased, they have a variety of options available in the market to choose product that best fits their preference.
Thus, the bargaining power of the buyers is high.
- Threat of New Entrants: Since the market is growing rapidly, new companies entering the market have started launching new and advanced electric toothbrush products to attract the consumers and establish their market presence.
Thus, the threat of the new entrants is high.
- Threat of Substitutes: Manual toothbrushes are still the choice of many people, across the world.
Thus, the threat of substitutes is high.
- Competitive Rivalry in the Market: The competitive rivalry is present among the market players as the electric toothbrush market is growing and there is a huge scope for high growth.
Therefore, competitive rivalry in the market is high.