TORONTO--()--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, despite the Japanese tsunami’s negative effect on market revenues, the Asia Pacific dental biomaterials market will grow moderately at an average annual rate of 6.6 percent through 2016, due to the steady increase in dental implant procedures. Penetration of biomaterial use with implant and periodontal procedures is still low in the Asia Pacific region in comparison to other global markets, leaving significant room for growth.
“It takes a large initial investment to develop and offer a dental biomaterial product in the Asia Pacific region”
South Korea is the largest and most active national market in the Asia Pacific region. Its dentists perform the highest number of dental implant procedures in the region, which increases the demand for dental biomaterials. The market for dental biomaterials in South Korea is fiercely competitive, with many local manufacturers developing lower cost dental biomaterial products, as well as large multinationals providing well-known trusted products. Both Japan and Australia lack such a variety of local competitors in terms of price levels and material makeup and have strict restrictions on the imports of dental biomaterials. Prices in those countries are twice what they are in South Korea. As a result, South Korean dentists are more likely to use the products and gain proficiency in them. As of 2012, South Korea represents approximately 70 percent of dental biomaterials revenues in the region.
Despite the restrictions it places on imports, the relatively underpenetrated Australian market is expected to grow faster than both Japan and South Korea through 2016, as international competitors seek areas of expansion. Nevertheless, Australia will remain the smallest of the three Asia Pacific markets.
“It takes a large initial investment to develop and offer a dental biomaterial product in the Asia Pacific region,” said MRG Analyst Carmen Chan. “Regulatory processes are stringent and dentists are hesitant to adopt new products that are unfamiliar to them, which require potential competitors to invest in clinical studies and extensive marketing. As a result, leading competitors are large international companies, particularly Geistlich, which has a strong reputation and trusted relationships with dentists in Australia and South Korea. Geistlich registered in Japan at the end of 2011, and will grow further by entering that underpenetrated market.”
Aside from Geistlich, competitors in the Asia Pacific region include Zimmer Dental, Oscotec, Impladent, Straumann and Riemser Arzneimittel.
Millennium Research Group’s Asia Pacific Markets for Dental Biomaterials 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for bone graft substitutes, dental membranes and tissue regeneration products sold in Australia, Japan and South Korea.
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.
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