In this article, we will be taking a look at the 12 biggest dental companies in the world. To skip our detailed analysis of these companies and the dental care industry, you can go directly to see the 5 Biggest Dental Companies in the World.
According to the American Dental Association's third quarter 2022 report on the state of the dental economy, through this August, US dental spending had recovered to about 91% of pre-pandemic levels. In August, spending on dental services was estimated to stand at $113.4 billion, representing a 6.4% increase from 12 months prior. With spending on dental care rising and recovering, dentists today are more confident in a full-fledged recovery in the dental sector since its previous lows.
While more renowned companies like The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and Unilever PLC (NYSE:UL) have been playing a role in the dental care sector with their provision of oral care products such as toothpaste, toothbrushes, and more, other companies offering dental implants and clear aligners have been in the spotlight just as much. The main players in the dental products and implants sector today include names like Henry Schein, Inc. (NASDAQ:HSIC), Align Technology, Inc. (NASDAQ:ALGN), and Straumann (SWX:STMN). Henry Schein, Inc. (NASDAQ:HSIC) accounts for about 28.6% of the market share in the dental equipment industry, while Align Technology, Inc. (NASDAQ:ALGN) constitutes 80-85% of the market share for clear aligners, given a rise in the demand for invisible aligners for aesthetic purposes. Straumann (SWX:STMN) also constitutes about 24% of the global dentistry market share.
One new and profitable segment within the broader dental care industry is that of dental implants. According to a report by Grand View Research, the dental implant market size is expected to reach $9.62 billion by 2030, representing a compound annual growth rate of 9.8%. Clear aligners have also become more popular and have seen growing demand in global markets, with growing aesthetic awareness. As more people across the globe believe their smiles to be a vital social asset, more customers are born for dental care companies like Align Technology, Inc. (NASDAQ:ALGN).
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Our Methodology
We have selected the biggest dental companies in the world based on their market capitalization. The companies are ranked on this basis, from the lowest to the highest market capitalization. We have mentioned relevant hedge fund data for most of the companies below, showing their popularity among the hedge funds tracked by Insider Monkey as well. In our selection, we have also considered their market share in the dental industry, their revenue growth in the past, and the growth of their dental business segments.
Biggest Dental Companies in the World
12. The Aspen Group
Number of Hedge Fund Holders: N/A
Market Capitalization as of December 6: $8.3 million
The Aspen Group is a company operating in the healthcare sector, operating brands such as Aspen Dental and ClearChoice in the dental industry. The company has launched over 900 Aspen Dental locations since its creation to facilitate patients looking for dental care. It also operates dental implant centers under the ClearChoice brand.
The Chicago-based dental company aims to make dental care more affordable, transparent, and accessible for patients. The Aspen Group offers clear aligner treatments, dentures, implants, and general dental care at its 900+ locations. In 2021, the company brought in over $3 billion in patient care revenues and supported over 3,800 independent healthcare providers through its franchises.
The Aspen Group, like The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and Unilever PLC (NYSE:UL), is among the largest and most successful dental companies today.
11. Dentalcorp Holdings Ltd. (TSE:DNTL)
Number of Hedge Fund Holders: N/A
Market Capitalization as of December 6: $1.03 billion
Dentalcorp Holdings Ltd. (TSE:DNTL) is a healthcare service provider based in Toronto, Ontario. The company acquires and partners with dental practices to provide dental care in Canada.
On November 23, Daryl Young at TD Securities resumed coverage of Dentalcorp Holdings Ltd. (TSE:DNTL) with a Buy rating.
Dentalcorp Holdings Ltd. (TSE:DNTL) is Canada's largest and one of North America's fastest-growing networks of dental practices. Over the past 12 months, it generated revenues of $1.3 billion. The company also acquired 14 dental practices during the third quarter, which are expected to generate about $12.9 million in adjusted EBITDA.
10. Osstem Implant Co., Ltd. (KOSDAQ:048260)
Number of Hedge Fund Holders: N/A
Market Capitalization as of December 6: $1.4 billion
Osstem Implant Co., Ltd. (KOSDAQ:048260) is a dental equipment and supplies manufacturing company. It is based in Seoul, South Korea.
Osstem Implant Co., Ltd. (KOSDAQ:048260) is the biggest Korean implant company and a global leader in dental implant solutions. The company's earnings are forecasted to grow at a rate of 34.5% per year.
Market Capitalization as of December 6: $2.82 billion
Patterson Companies (NASDAQ:PDCO), based in Saint Paul, Minnesota, is a company engaged in the distribution of dental and animal health products. The company operates in the US, the United Kingdom, and Canada.
An Overweight rating was reiterated on Patterson Companies (NASDAQ:PDCO) shares on October 17 by Piper Sandler's Jason Bednar.
Patterson Companies (NASDAQ:PDCO) is mostly spearheaded by its dental equipment sector, which is the company's main growth driver. The company's management is focusing on organic revenue growth and margin expansion while maintaining a robust balance sheet. Patterson Companies' (NASDAQ:PDCO) guidance for the fiscal year of 2023 shows an adjusted EPS was $2.25-$2.35 per share. The dental equipment segment showed an internal growth of 11% in the second quarter of the fiscal year 2023, while the company's revenue stood at $1.6 billion.
Millennium Management was the largest stakeholder in Patterson Companies (NASDAQ:PDCO) in the third quarter, out of a total of 23 funds long the stock. The fund held 979,974 shares in the company, worth $23.5 million.
Heartland Advisors, an investment management company, mentioned Patterson Companies (NASDAQ:PDCO) in its third-quarter 2022 investor letter. Here's what the firm said:
“Patterson Companies, Inc. (NASDAQ:PDCO), a leading distributor of dental and animal health related products, reported first quarter results that included a sequential decline in dental equipment-related sales and price deflation in consumables. The former is in part a hangover from a strong fourth quarter while price deflation is being driven by inventory build-ups during COVID. With a healthy 4% dividend yield and attractive valuation, only 11X estimated earnings, we continue to hold Patterson. Notably too, a competitor in the dental space, Henry Schein, Inc., trades at a 1.5x+ premium to PDCO on estimated EBITDA while Covetrus, Inc., an animal health player, was acquired for 14.0x EBITDA in May.”
Market Capitalization as of December 6: $5.46 billion
Envista Holdings Corp. (NYSE:NVST) develops, sells, and markets dental products in the US, China, and internationally. The company is based in Brea, California.
Jason Bednar at Piper Sandler reiterated an Overweight rating on Envista Holdings Corp. (NYSE:NVST) shares on November 4.
Envista Holdings Corp. (NYSE:NVST) is the owner of over 30 trusted brands in the dental sector. The company reported this November that 90% of dentists have at least some of its products in their offices. The company operates in over 120 countries as of this year. Envista Holdings Corp. (NYSE:NVST) estimates that by 2024, its net sales would rise by 6.86% to $2.94 million.
Envista Holdings Corp. (NYSE:NVST) was found among the 13F holdings of 32 funds in the third quarter, with a total stake value of $653 million.
Artisan Partners, an investment management company, mentioned Envista Holdings Corp. (NYSE:NVST) in its second-quarter 2022 investor letter. Here's what the firm said:
“Envista Holdings Corporation (NYSE:NVST) is a dental company with strong global brands and customer relationships in implants and orthodontic consumables. The company spun out of Danaher in 2019, and since then management has repositioned it for faster and more profitable growth by divesting its capital equipment business and increasing its focus on specialty dental products. We are particularly interested in several new product cycles: the first of which is the Spark clear aligner, which is the second-largest brand behind Invisalign, in a market that continues to grow rapidly. The company also offers the N1 premium implant system, which reduces drilling noise and vibration and preserves more bone material; and the Carestream intra-oral scanner (through an acquisition expected to close later this year), which is a digital substitute for conventional impression trays. Furthermore, the company has a clean balance sheet with the ability to acquire additional high-growth products.”
Market Capitalization as of December 6: $6.58 billion
Dentsply Sirona (NASDAQ:XRAY) is a manufacturer and seller of various dental products and technologies for professional dental markets across the globe. The company is based in Charlotte, North Carolina.
On November 15, an Outperform rating was reiterated on Dentsply Sirona (NASDAQ:XRAY) shares by Michael Petusky at Barrington.
In the US, Dentsply Sirona (NASDAQ:XRAY) has a notable market share in the dental clinical instrument manufacturing industry, accounting for about 23.8% of total industry revenue. The company is a global leader in the design, manufacture, and marketing of dental equipment.
Out of the 32 hedge funds long Dentsply Sirona (NASDAQ:XRAY) in the third quarter, First Eagle Investment Management was the largest stakeholder, holding 9.4 million shares worth $267.4 million. The total stake value in the company was $364 million.
Market Capitalization as of December 6: $11.04 billion
Henry Schein, Inc. (NASDAQ:HSIC) is a provider of healthcare products and services to dental practitioners and laboratories, physician practices, and government and institutional healthcare clinics, among more. The company is based in Melville, New York.
Henry Schein, Inc. (NASDAQ:HSIC) accounts for about 28.6% of total industry revenue in the Dental Equipment Dealers industry in the US. The company's global dental consumables sales grew by 5.1% year-on-year in the third quarter, while equipment sales grew by 8% year-on-year. It is growing organic sales across all regions and segments, and is set to benefit from growing demand for dental and medical products.
There were 36 hedge funds long Henry Schein, Inc. (NASDAQ:HSIC) in the third quarter. Their total stake value was $1.2 billion.
Henry Schein, Inc. (NASDAQ:HSIC), like The Procter & Gamble Company (NYSE:PG), Colgate-Palmolive Company (NYSE:CL), and Unilever PLC (NYSE:UL), is a major dental company offering dental products to a large sector of the global population today.
