Middle Eastern Markets For Dental Implants Will Expand Rapidly To Reach Over $175 Million In 2021 Falling Implant Fixture Prices Will Drive Strong Procedure Adoption in All Countries, According to Millennium Research Group
TORONTO, Aug. 19, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, Middle Eastern markets for dental implants will see strong growth through 2021 as implant prices fall and as more dentists become comfortable with these procedures.
Dental implant procedure volumes will increase rapidly in all geographies as the population ages, given that the risk of missing teeth rises with age. Moreover, dental implant procedures are lucrative, and so a growing number of dentists will undergo training and begin performing these procedures in the upcoming years, creating greater accessibility for patients.
"Dental implant prices vary dramatically from one country to another, resulting in widely different markets," said MRG Analyst Jeremy Seath. "One thing they will all have in common is falling implant fixture prices, which will make implant procedures increasingly accessible across the entire region."
Implant selling prices are already very low in Israel as a result of significant price competition and the presence of a large number of successful local manufacturers, such as MIS Implants Technologies, Alpha-Bio Tec, Adin Dental Implant Systems, and A.B. Dental Devices. The low cost of implants has in turn led to high procedure volumes and significant market saturation. Low prices have, however, limited revenues in this space.
In contrast, implant prices are higher in Turkey and Egypt, and these markets are currently underpenetrated. Turkey has already begun to see rapid procedure increases as a result of strong economic growth, and this market is set to expand at a double-digit compound annual growth rate through 2021. Egypt will also see strong unit sales and market expansion, but procedure volumes will remain low in this country compared to Israel and Turkey, despite Egypt's large population. This is largely due to political and economic instability, the low gross domestic product per capita and high unemployment rates. Because of these factors, most individuals who require dental implants will either opt for less expensive treatments or not seek treatment at all.
Millennium Research Group's Middle Eastern Markets for Dental Implants 2013 report includes unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for dental implant fixtures and final abutments in Egypt, Israel and Turkey. Supplemental coverage is also available for Iran, Iraq, Saudi Arabia, Syria, the United Arab Emirates and Yemen, as well as in aggregate for the rest of the Middle Eastern 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