Dental News - OSSTEM IMPLANT seeks to grow Japanese market share significantly

Dental Tribune International

Tue. 25. July 2017

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SEOUL, South Korea: South Korean dental implant manufacturer OSSTEM IMPLANT is aiming to increase its market share in Japan, OSSTEM Japan CEO Kim Hae-gon told the Korean Times in an interview. Among other measures, the company plans to almost double its Japanese offices, from 12 to 22, by 2019.

Currently, the company, which was founded in 1997, holds only 3 per cent of the Japanese implant market. However, building on its success in South Korea, where the implant manufacturer has 50 per cent of the market share in the segment, OSSTEM plans to slowly expand its presence and over time compete with premium competitors from overseas, such as Straumann and Nobel Biocare. “The key behind our success in Korea is our strategy of not taking excessive royalty profits, but instead, investing more in research and development to enhance product quality,” Kim said.

Compared with Europe and America, the demand for implants is not yet as high in Japan. However, it is steadily growing and the company is confident that it will reach its annual sales target of JPY3 billion (US$27 million) by 2023. In 2016, OSSTEM Japan already generated JPY600 million (US$5.48 million) in sales, growing more than 150 per cent compared with its 2012 figures.

One reason for this success is the company’s focus on research and development, Kim said. Consequently, OSSTEM not only produces quality implants and dental equipment, but also puts emphasis on educating dental professionals in the field. For example, the company runs advanced education seminars for dentists wishing to learn surgical procedures for implant placement. “This is part of our efforts to raise the awareness of implants in Japan, which will also improve our brand image in the country,” the branch head remarked.

“It is true it will not be an overnight thing for us to make tons of profits in Japan in the next few years, but we are confident that the implants industry here will definitely take more concrete shape as time goes on. Our price-competitive and quality products will then pose serious threats to market leaders, as we had done with our products in Korea.”

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