Effects Of The Economic Recession Continue To Limit The European Market For Dental Implants, But Widespread Growth Will Resume By 2017 Market Trends Will Vary By Country, With Eastern Europe Representing the Strongest Potential for Market Growth, According to Millennium Research Group
TORONTO, July 25, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the economic crisis in Europe will continue to define the market landscape for dental implants in the region.
Despite actions taken by individual governments as well as the implementation of austerity measures, the European economy continues to struggle and, as a result, consumers remain hesitant or unable to pay for elective procedures such as dental implants. Economic recovery varies by country and some markets are seeing growth while others remain in decline. For instance, economic recovery has been slow in Italy and Spain and the dental implant markets in these countries will not see positive growth until 2016 and 2017, respectively, while other countries such as Germany have already begun to see renewed market expansion. By 2017, however, all European countries will see positive market growth.
Dental implant markets in Eastern European countries are already experiencing accelerating growth. In particular, the Czech and Polish markets will see rapid expansion, with market growth reaching double digits by 2021. The Czech market is currently underpenetrated, presenting a significant opportunity for growth, while economic conditions in Poland will be particularly favorable.
"In addition, Eastern Europe will see strong market expansion because dental tourism is increasingly prevalent in this region," said MRG Senior Analyst Carmen Chan. "Countries such as Hungary, Poland and the Czech Republic offer lower-cost procedures, which are attractive to patients in neighboring European countries. Dental tourism is often promoted by these countries' respective governments, which sometimes combine dental tourism with vacation packages for patients in countries such as Germany and the UK, where procedures can be expensive."
Reimbursement uncertainty has also had a significant impact on a number of markets. Proposed changes to government reimbursement in countries such as Sweden and the Netherlands have recently led to substantial market declines because patients and physicians were unsure of whether procedures would be reimbursed, and therefore many procedures have been postponed, temporarily limiting revenues.
Millennium Research Group's European Markets for Dental Implants 2013 report includes unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for dental implant fixtures and final abutments in France, Germany, Italy, Spain, Sweden, Switzerland and the UK. Supplemental country coverage is also available for Austria, Belgium, the Czech Republic, Denmark, Finland, Greece, Hungary, the Netherlands, Norway, Poland, Portugal, Romania and Ukraine, as well as in aggregate for the rest of the European countries.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group