TORONTO, Oct. 14 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, in 2009, approximately 1.6 million dental implants were placed in the BRIC (Brazil, Russia, India, and China) countries, and this number will expand at a double-digit rate over the next five years. Despite the global economic crisis, procedure volumes grew over 10% across the BRIC countries in 2009.
The emerging nature of the BRIC countries' economies has allowed them to largely resist the negative effects on dental implant placement volumes that many of the developed markets experienced; what little effects have been felt will be quickly resolved, with growth rates returning to pre-recession figures over the next five years. In China, the economic recovery has been particularly rapid due to the swift response by the Chinese government, which included cutting interest rates and announcing the largest stimulus package in the country's history at the end of 2008. Brazil was also fairly well insulated from the recession due to its government fiscal policy and recent surges in oil revenues, which led to economic growth, inflation stability, and a stronger job market. In India, the presence of an informal economy for goods and services and the fact that the country is not heavily dependent on exports has allowed the country to prosper during the economic recession. Consequently, all three countries experienced rapid economic recovery in 2009 and are projected to become noticeably stronger, which will allow patients to pay out-of-pocket for elective procedures.
"Russia was the only BRIC country to experience a contraction in dental implant placement volumes in 2009; similar to many other global markets, several Russian patients opted to postpone or cancel dental implant treatments or chose less expensive options while their financial situations were uncertain," says Edward Park, Senior Analyst at MRG. "Nevertheless, going into 2010, the Russian dental implant market experienced positive growth and began its path to resuming pre-recession growth rates similar to the other BRIC countries.
MRG's BRIC Markets for Dental Implants 2010 report provides critical insight into trends that will fuel and limit market growth for dental implants in Brazil, Russia, India, and China. The report includes a breakdown of unit volumes, average selling prices, and market values for dental implants (by type, shape, and surface treatment) and final abutments (by type).
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.
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SOURCE Millennium Research Group