With more than half of the population in the United States having been at least partly vaccinated for COVID-19 (and almost half fully vaccinated), there has been a substantial uptick in the number of people visiting clinics and hospitals for dental checkups. Furthermore, the increasing use of more efficient and advanced dental equipment, coupled with current government initiatives to boost the healthcare sector, has fostered favorable investor sentiment about the industry's growth potential. So, we think dental stocks Align Technologies (NASDAQ:ALGN), Dentsply Sirona (XRAY), and Henry Schein (HSIC) could be solid bets now. Let’s take a close look at these names.The COVID-19 pandemic had a huge, negative impact on the dental care and services market last year. But the industry is now recovering at a fast pace as solid progress on the vaccination front has been driving a gradual return to in-office dental checkups, which were deferred for an extended period. In addition, increasing consumer spending and extensive government spending to strengthen healthcare infrastructure are expected to create a conducive environment for further industry growth.
Growing demand for cosmetic dental surgeries, technological advancements, and an aging population are projected to boost the growth of the dental care and services market. The global dental equipment market is expected to reach $5.4 billion by 2028, registering a 12.1% CAGR.
Considering the rapid advancement in dental procedures and substantial rise in dental hygiene appointments, we believe dental companies Align Technologies (ALGN), Dentsply Sirona Inc. (XRAY), and Henry Schein Inc. (NASDAQ:HSIC) are well-positioned to witness robust demand for their products and services. Thus, these stocks could be ideal bets now.