Stiff Competition Leads to High Dental Implant Use in South Korea

November 23, 2005—According to the US Commercial Service, the South Korean dental device market was the second-largest in the Asia Pacific region in 2003, after Japan. A new report by Millennium Research Group (MRG) shows that the country’s dental implant market is no exception.

This market is characterized by the presence of numerous competitors both international and domestic, which has resulted in a high level of awareness regarding the financial and clinical benefits of dental implants among dentists and patients. Resultantly, South Korea had the highest penetration rate per 10,000 inhabitants in 2004 among the three countries—Australia, Japan, and South Korea—included in MRG’s new report. Over the next 5 years demand for dental implants in the country will rise as the number of dentists placing and restoring implants grows and patient awareness improves. By 2009, increasing unit sales will generate almost $200 million in revenues for competitors in the South Korean dental implant market.

The domestic and international manufacturers in the South Korean dental implant market compete largely on price. To differentiate themselves further, they also offer a variety of education programs providing training in basic or advanced implant placement and restoration skills. Recognizing the financial opportunities provided by dental implants, a growing number of South Korean dentists are taking part in these education programs in an effort to remain competitive.

Their participation in these programs will lead to an increase in both dental implant awareness among dentists and patients and the number of dentists placing implants. There is also a growing trend among South Korean dentists to form large-scale clinics and partnership clinics that promote cosmetic dentistry, including dental implants, to patients. As a result, an increasing number of patients are now becoming conscious of the benefits of preserving neighboring teeth and the aesthetic benefits of these devices, driving demand for dental implants.

MRG’s Asia Pacific Markets for Dental Implants and Final Abutments 2005 includes analyses of the regular-diameter dental implant and final abutment markets. The report covers over 20 competitors including Astra Tech (STH.PA), Japan Medical Materials, Nobel Biocare (NBCHF.PK), Osstem, Straumann (SAUHF.PK), 3i (BMET), and Zimmer Dental (ZMH).

Contact Information:
Tim Guram
Millennium Research Group Inc.
(416) 364-7776 ext. 112
tguram@mrg.net
www.mrg.net