Dental Implants On the Rise in South Korea
Source: inewswire.com
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 to this study.
The dental implant market is characterized by the presence of numerous competitors both international and domestic, which has resulted in a high level of awareness regarding the clinical benefits of dental implants among dentists and patients. Moreover, 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 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 cost. To differentiate themselves further, they also offer education programs providing training in basic or advanced implant placement and restoration skills. This is said to be a huge factor according to the report.
Recognizing the financial limitations provided by dental implants, a growing number of South Korean dentists are taking part in these education programs in an effort to remain highly-competitive. Their active participation in these programs will lead to an increase in both dental implant procedures among dentists and patients and the number of dentists placing implants.
There is also a growing trend among South Korean dentists that promote cosmetic dentistry, including dental implants, to patients. As a result, an growing number of patients are now becoming conscious of the benefits of preserving neighboring teeth and the aesthetic benefits of these devices, driving up the demand for dental implants.
