12 Biggest Dental Companies in the World

In this article, we will be taking a look at the 12 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.

9. Patterson Companies (NASDAQ:PDCO)

Number of Hedge Fund Holders: 23

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.”

8. Envista Holdings Corp. (NYSE:NVST)

Number of Hedge Fund Holders: 32

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.”

7. Dentsply Sirona (NASDAQ:XRAY)

Number of Hedge Fund Holders: 32

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.

6. Henry Schein, Inc. (NASDAQ:HSIC)

Number of Hedge Fund Holders: 36

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.

5. Align Technology, Inc. (NASDAQ:ALGN)

Number of Hedge Fund Holders: 38

Market Capitalization as of December 6: $14.68 billion

Align Technology, Inc. (NASDAQ:ALGN) is a medical device company based in Tempe, Arizona. The company designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists.

A Buy rating was reiterated on Align Technology, Inc. (NASDAQ:ALGN) shares on October 27 by analyst Jonathan Block at Stifel.

Align Technology, Inc. (NASDAQ:ALGN) accounts for about 80-85% of the global clear aligners market. Growing demand for aesthetics and clear braces in orthodontic treatment fueled the growth in the company’s global revenues in 2020. Total revenues then grew to $2.47 billion from $2.41 billion in 2019, representing a 3% increase.

Bares Capital Management was the largest stakeholder in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, holding 913,324 shares worth $189.2 million. In total, 38 funds were long the stock, with a total stake value of $756 million.

Polen Capital, an investment management firm, mentioned Align Technology, Inc. (NASDAQ:ALGN) in its second-quarter 2022 investor letter. Here’s what the firm said:

“Align Technology shares declined significantly during the second quarter when management reported a meaningful deceleration in growth. Management cited a host of challenges, including COVID19 impacts, especially in China with restrictions and lockdowns under their zero-COVID policy, a weaker economic environment, inflationary pressures, supply chain disruptions, and the war in
Ukraine, to name a few. Tough comparisons were also a reality— Invisalign case starts in 1Q22 were roughly flat, having lapped the 66% growth from the prior year. It’s not completely surprising that growth is slowing on such tough comparisons, but the company’s shares declined on the news.

By looking at Align’s three-year compound average growth rate (CAGR) to smooth out the ups and downs through COVID, key metrics like Invisalign case shipment, clear aligner revenue, and earnings per share have all grown ~20% during the trailing three years. We think this is quite respectable given the challenges during this period, but the lack of near-term momentum or visibility has not been well received in the current environment. According to our research, Align is the clear market leader, has global scale, a superior product, and still very modest market penetration. While growth may be challenged near term, we remain confident in the long-term growth opportunity.”

4. Straumann (SWX:STMN)

Number of Hedge Fund Holders: N/A

Market Capitalization as of December 6: $19.4 billion

Straumann (SWX:STMN) is a Switzerland-based company providing tooth replacement and orthodontic solutions worldwide. The company researches and develops dental implants, instruments, aligners, and more.

Straumann (SWX:STMN) has established itself as a global leader in the implant industry, which accounts for about 15% of the general dentistry market. The company leads this market, holding a market share of about 24% through its expansion and outperformance. Between 2015 and 2020, the company has a five-year average organic growth rate of 13%.

3. Zimmer Biomet (NYSE:ZBH)

Number of Hedge Fund Holders: 37

Market Capitalization as of December 6: $25.66 billion

Zimmer Biomet (NYSE:ZBH) is a healthcare company offering a range of products, including dental reconstructive implants, prosthetic and regenerative products, and robotic, surgical, and bone cement products. It is based in Warsaw, Indiana.

Zimmer Biomet (NYSE:ZBH) is one of the top American players in the dental implant market. It offers a range of 12 bone-level implants with tapered, straight, and tapered apex shapes. The company’s net sales in the third quarter stood at $1.67 billion.

There were 37 hedge funds long Zimmer Biomet (NYSE:ZBH) in the third quarter, with a total stake value of $1.2 billion.

Ariel Investments, an investment management firm, mentioned Zimmer Biomet (NYSE:ZBH) in its fourth-quarter 2021 investor letter. Here’s what the firm said:

“A reopening of the global economy with a reduction in the severity of the pandemic has led us to invest in companies that would perform well with an end to Covid restrictions such as canceled sports and entertainment events or companies that would benefit from pent-up demand for consumer products. Healthcare holdings such as Zimmer Biomet Holdings Inc. (ZBH) saw demand for their “elective” healthcare services decline sharply as hospitals lost capacity for non-essential surgeries or orthotics. We believed those companies should see a rebound in their business as cases decline. Unfortunately, two new Covid variants turned this theme from a tailwind to a headwind in the second half of the year. First, Delta then Omicron sent Covid cases higher and both companies saw their businesses slow again. Zimmer’s stock lost -13.04% in the fourth quarter. As we write, we believe Omicron cases could be nearing a peak which would allow our thesis to better play out this year.”

2. Colgate-Palmolive Company (NYSE:CL)

Number of Hedge Fund Holders: 57

Market Capitalization as of December 6: $64.41 billion

Colgate-Palmolive Company (NYSE:CL) is a consumer staples company based in New York. The company is best known for its oral and personal product brands for toothpaste, toothbrushes, mouthwash, and more, such as the Colgate brand.

A Buy rating was reiterated on Colgate-Palmolive Company (NYSE:CL) shares on December 6 by analyst Steve Powers at Deutsche Bank.

In the first six months of 2022, Colgate-Palmolive Company (NYSE:CL) demonstrated continued leadership in toothpaste manufacturing, with its global market share at 39.6% year-to-date. Sales for the company’s Oral, Personal, and Home Care segment grew by 2.9% year-over-year to $958 million in North America. This growth represented strong demand for the toothpaste category in Oral Care.

Colgate-Palmolive Company (NYSE:CL) was found among the 13F holdings of 57 hedge funds in the third quarter. Their total stake value was $4.1 billion.

Third Point, a New York-based investment advisor, mentioned Colgate-Palmolive Company (NYSE:CL) in its third-quarter 2022 investor letter. Here’s what the firm said:

“Third Point recently acquired a significant position in Colgate-Palmolive Company (NYSE:CL). The investment fits several important criteria in the current investment environment. First, the business is defensive and has significant pricing power in inflationary conditions. Second, there is meaningful hidden value in the company’s Hill’s Pet Nutrition business, which we believe would command a premium multiple if separated from Colgate’s consumer assets. Third, there is a favorable industry backdrop in consumer health, with new entrants via spin-offs and potential for consolidation. Finally, the current valuation is attractive both because earnings growth is poised to inflect higher, and because shareholders are paying very little for the optionality around Hill’s or Colgate’s ability to participate in further consolidation in the consumer health sector.

Colgate has a strong portfolio of brands and operates across four categories that should perform well across most economic conditions: oral care, home care, personal care, and pet nutrition. Although Colgate has delivered organic sales growth of 5-6% over the past few years, earnings growth has been disappointing, and the stock has become a perennial underperformer. Foreign exchange headwinds have pressured reported results. Business reinvestment, supply chain disruption, and inflationary pressures have weighed heavily on margins; those headwinds are now reversing. Stepped up investments in demand generation, product innovation, and digital capabilities are starting to pay off. Global supply chain bottlenecks are easing and product availability on the shelf is improving. And, most importantly, raw material, transportation, and wage pressures are stabilizing, and even reversing in some areas, at the same time additional pricing takes effect. Taken together, the stage is set for Colgate to deliver several years of outsized earnings growth, as sales continue to increase, foreign exchange movements are annualized, and margins finally recover…” (Click here to view the full text)

1. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 69

Market Capitalization as of December 6: $353.3 billion

The Procter & Gamble Company (NYSE:PG) is another consumer staples company on our list, based in Cincinnati, Ohio. The company’s Health Care segment offers toothbrushes, toothpastes, and other oral care products under the Crest and Oral-B brands.

Deutsche Bank’s Steve Powers holds a Buy rating on The Procter & Gamble Company (NYSE:PG) as of December 6.

The Procter & Gamble Company (NYSE:PG) is a leading company in the oral care industry. The company’s overall net sales stood at $80.19 billion in 2022. Its global net sales in the healthcare segment stood at $10.8 billion in 2022.

Our hedge fund data shows 69 funds long The Procter & Gamble Company (NYSE:PG) in the third quarter, with a total stake value of $4.1 billion.

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Disclosure: None. 12 Biggest Dental Companies in the World is originally published on Insider Monkey.