BURLINGTON, Mass., Dec. 19, 2014 /PRNewswire/ -- Decision Resources Group finds that the Latin American dental biomaterial market will grow at a 12 percent compound annual growth rate through 2023. This is primarily as a result of the aging population and the increasing adoption of dental implants. Growing aesthetic consciousness in Latin America will also spur demand for dental biomaterials because they can improve the aesthetic results of dental implant and periodontal treatments.
Other key findings from Decision Resources Group's coverage of the Latin American dental biomaterial market:
- Country differences: Because of the high acceptance of dental implants in Brazil, there is accordingly strong demand for dental biomaterials, and Brazil therefore represents by far the largest market in Latin America. By contrast, the Colombian market is the smallest but will experience strong growth going forward due to the entry of new competitors.
- Limited reimbursement: Reimbursement is lacking for dental biomaterial procedures in the Latin American region, which continues to hinder market growth. Furthermore, the incorporation of dental biomaterials generally adds to the cost of the procedures, limiting their affordability. This is a particular problem in Argentina due to unstable economic conditions.
- Restricted availability of dental biomaterials: There is a stringent approval process in Latin America for human- and animal-derived tissue, which has severely restricted the availability of allografts and xenografts in the region. In fact, in Brazil it is illegal to import allografts. This lack of availability will slow the shift from autografts to bone graft substitutes (BGS) in the region.
Comments from Decision Resources Group Analyst Kaylee Won:
- "There is an influx of domestic competitors in Latin America, particularly in Brazil and Argentina, where import taxes have created an unfavorable environment for new international companies to enter. The high price sensitivity of Brazilian dentists has also led to local competitors, such as Baumer, developing relatively inexpensive BGS to meet the needs of local dentists."
- "There are, however, a number of international companies in the market, such as Geistlich and Straumann. These companies have leveraged their existing product lines, such as dental implants, to gain share in the dental biomaterial market. International companies are also in the best position to offer bundles of BGS and dental membrane products, which can be advantageous because these products are often used together."
- Kaylee Won has written a Medtech 360 report on this subject entitled Latin American Markets for Dental Biomaterials 2015.
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