TORONTO, Oct. 21 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, while Canada typically mimics US trends in the North American dental implant market, last year was very different. The struggling American economy led to a shrinking market for dental implants, while the Canadian market achieved moderate growth of 5.6%.
The greatest discrepancy was seen in the North American market for regular-diameter dental implant fixtures. As volumes shrank in the US, prices dropped as manufacturers attempted to maintain volumes through discounting. As a result, the US regular-diameter dental implant fixture market experienced a moderate decline. In Canada, however, the economic downturn had less of an impact on this market, with volumes continuing to grow, albeit at a slower pace. Prices grew as new, more expensive technologies were adopted, such as implants with nanotechnology surface treatments, allowing the market to grow despite the recession.
The final abutment market also declined in the US in 2009. Volumes decreased as a result of fewer regular-diameter dental implants placed that year, but this was slightly offset by a small increase in price. In Canada, however, volumes had slowed but there was still significant growth. Canadian dental practitioners were much more willing to adopt new technologies, such as expensive custom-milled abutments, because their practices were less impacted by the economic crisis. Prices thereby increased, and the result was moderate market growth of 4.7%.
"In 2009, the economy strongly affected the US market for dental implants," says Emily MacIntosh, Analyst at MRG. "This market was characterized by cost cutting, where dental practitioners sought discounts and low-cost components. Meanwhile, patients sought lower-cost solutions, which often excluded regular-diameter dental implants. The Canadian market would normally echo American trends, but this year Canadian consumers and dental professionals were in a better economic position than their neighbors. For the most part, the Canadian market continued 'business as usual,' resulting in moderate growth."
MRG's North American Markets for Dental Implants 2011 report provides critical insight into trends that will fuel and limit market growth for dental implants in the US and Canada. The report includes a breakdown of unit volumes, average selling prices, and market values for regular-diameter fixtures (by shape, by surface treatment, and by type), small-diameter fixtures, final abutments (cement-retained, custom milled, overdenture, and screw-retained), and other tools such as analogs, components, and healing abutments.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.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 behavior tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
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SOURCE Millennium Research Group