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 America
|SOURCE Millennium Research Group|
Copyright©2010 PR Newswire.
All rights reserved