The European market for dental implants will contract in 2012, then slowly resume growth through 2016, according to a new report from Millennium Research Group (MRG).
Since reimbursement for dental implants is limited and most expenses are out-of-pocket, the market has been strongly affected by the economic downturn, particularly in Italy and Spain, MRG noted in a press release.
Many dentists have switched to lower-priced products, allowing them to provide more affordable implants and continue to perform procedures and maintain profit margins, according to MRG. Opportunities at this lower-priced end of the market have attracted smaller low-cost players from outside of Europe, including MIS Implants Technologies of Israel and Osstem Implant and MegaGen of South Korea.
The overall European dental implant market remains dominated by Straumann, Nobel Biocare, and Dentsply Friadent, but increasing market fragmentation has reduced their combined market share to just over 40%, MRG noted. Many European dental professionals run their own practices and make their own purchasing decisions, making direct sales strategies important in acquiring and maintaining market share, and value-priced manufacturers are gaining share.
Premium-priced devices will still support the revenues of the big players, predicted MRG manager Deanna Vankessel. Custom-milled abutment revenues will grow at nearly 7% per year through 2016, making them the fastest-growing products in the final abutment segment.
