Dental implants market in China to grow at a CAGR of 28.26 per cent
LONDON, UK: The dental implants market in China is likely to exceed USD 696 million by 2020, growing at a CAGR of over 28%.The dental implants market in China has experienced rapid growth in the past few years and has the potential to grow further during the forecast period. Advances in dental healthcare, growing aging population, and rise in oral health awareness are some of the factors leading to an increased demand for dental restoration, in turn resulting in an increased demand for dental implants.
According to Barath Palada, a lead analyst at Technavio for orthopedics and general medical devices, “The dental care market in China is still at an early stage hence it is easy for global and regional vendors to penetrate the market. Government policies and increased investment by foreign players in China will encourage the use of dental implants.”
The top four emerging trends in China’s dental implants market according to Technavio’s healthcare and life sciences research analysts are:
Technological advances in dental implants
The field of dental implant surgery has undergone many innovations and advances in technology such as mini implants, bone augmentation, and 3D imaging which are propelling market growth.
Mini implants are used to stabilize a lower denture and firmly secure it from slippage. These implants are less invasive, less expensive, and enable faster recovery. Bone augmentation involves restoring or regenerating the bone in tooth sockets through use of bone additives and growth factors. Bone augmentation has a significant impact on the long-term success of dental implant treatment. 3D imaging enables dentists to analyze the anatomy of a patient’s jaw without surgery, making the implant procedure faster, accurate, and ensure long-term success.
Growing use of locally manufactured dental implants
Dental implants manufactured by global companies are expensive. This factor has led to the development of cost-effective products by regional firms. The narrowing gap of quality differences between imported and local products has allowed medical professionals in China to use cost-effective products manufactured by local enterprises.
“Strong emphasis from the government to use locally manufactured products along with economical pricing will lead to further increase in the demand for these products during the forecast period,” says Barath.
Popularity of medical tourism
China is one of the fastest developing countries in Asia because of the boom in the medical tourism industry. Though dental clinics in developed countries offer quality medical care, high costs and lack of reimbursements compel people to opt for cost-effective alternatives.
China’s private medical facilities provide low-cost dental care with high-quality standards to attract patients from all over the world. In 2014, the cost of dental implants in China was less than half of the cost in developed countries such as the US, Spain and the UK.
Rise in awareness regarding oral health
China has formulated a national program for chronic disease control and prevention (2012-2015). This program also includes objectives related to oral health, which are focused on conducting interventions during early childhood to prevent dental caries and oral disorders.
According to this program, an oral examination is carried out and is actively promoted by government agencies, enterprises, and institutions. China is also strengthening personnel training to prevent the incidence of oral diseases.
Some of the top vendors for the dental implants market in China, as researched by Technavio analysts are:
- OSSTEM IMPLANT
- Zimmer Biomet
- DENTSPLY Implants
Sources and links to the full report: http://www.businesswire.com/news/home/20160215005584/en/Dental-Implants-Market-China-2016-2020---86.1 and http://www.businesswire.com/news/home/20160209005164/en/Technavio-Announces-Top-Emerging-Trends-Impacting-Dental