Dental implants in the Brazilian, Russian, Indian, and Chinese (BRIC) markets will see rapid growth to reach $1.3 billion in 2021, according to a new report from Millennium Research Group (MRG).
The growth is driven by rising numbers of dentists being trained to perform implant procedures, as well as increased marketing efforts from manufacturers, MRG explained.
Brazil currently represents the largest of the BRIC markets; dental implants have been available for a longer period of time there, and the market is comparatively mature. There is a high level of aesthetic consciousness in Brazil, and individuals are more likely to seek out elective aesthetic treatments.
Brazil will continue to generate the highest proportion of revenues through 2021, but market expansion will be stronger in the less mature Russian, Indian, and Chinese markets. In particular, the dental implant market in China will experience the strongest growth.
Price competition will be less prevalent in China than Russia, India, or Brazil, MRG analyst Jeremy Seath noted, since Chinese dentists place a greater emphasis on brand names and premium products because this improves the appearance of their practices to patients. The majority of patients undergoing dental implant treatments in China continue to be part of a wealthy social class, and they are more likely to request higher-priced brands. Consequently, the aggregate selling price in China was more than double that of the other BRIC countries in 2012.
Overall, however, price competition is intensifying worldwide, and it is becoming increasingly important for competitors to offer low-cost products to remain competitive, MRG stated. Local companies in Brazil offer dental implants at a very low price point, driving down aggregate selling prices and restricting market expansion to some extent. Although the increasing availability of low-cost products will make dental implant procedures more accessible to patients, this trend will ultimately impede revenues.
