TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, markets in Brazil, Russia, India and China will be the fastest growing dental implant markets globally, averaging over 15 percent annual growth through 2016. As a result these markets will more than double by 2016 to nearly $715 million.
A number of factors help these markets’ growth, including improving average incomes, increasing aesthetic standards and a greater amount of physician-related training to improve accessibility. The main limiting factors in these markets are a lack of reimbursement and increasing price competition as the revenue opportunities in these markets attract new entrants.
Seeing the high growth potential, an increasing number of dental implant manufacturers are investing in these countries. While these four countries show significant differences in which competitors are favored, the way international manufacturers tend to approach market entry tends to be similar. The most effective approach of building market share is to begin, not by selling directly, but by selling through a local distributor, partner or acquired company. Locals have an understanding of the local culture and regulations, an established reputation and/or an existing network of relationships and sales channels.
“A recent example of this kind of strategy is Straumann’s acquisition of 49 percent of the Brazilian dental implant manufacturer Neodent,” said MRG Analyst Carmen Chan. “Brazil has historically been dominated by domestic competitors and Neodent leads that market with a 30 percent market share. This will give Straumann a substantially stronger position in the largest dental market among these four countries.”
Manufacturers hoping to enter these markets must also focus on physician preferences. Physicians in these four countries are particularly interested in tapered implant fixtures, internal connection implant fixtures and custom-milled abutments. Manufacturers who lack products in these categories will have difficulty gaining market share. Those with strong and effective tapered internal connection implant fixtures and aesthetically pleasing and easy-to-use custom milled abutments will be positioned for revenue growth.
Millennium Research Group’s BRIC Markets for Dental Implants 2012 report includes, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for dental implant fixtures, final abutments, and other tools sold in Brazil, Russia, India and China.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.