Synex Korea Medical Device Market Report - Dental Implants 2023

In 2022, the total market size of dental implants in Korea is estimated to be approxiamately USD ***million at manufacturers/importers' initial selling prices (about *** units, including fixtures and upper parts) and USD *** million at medical institutions' purchase prices.
The dental implants market is expected to grow at a CAGR of ***% for five years after 2022, reaching a market size of approximately USD *** million in terms of production/import value and USD *** million in terms of purchase value by end-user medical institutions in 2027.
This is expected to be driven by the steady increase in the number of reimbursement procedures due to the expansion of NHIS coverage (from 70+ years old to 65+ years old), which took effect in July 2018.
Unlike other therapeutic materials, the market size by production/import prices is smaller than the market size by end-user purchase prices, which is estimated to be due to the large inventory held by manufacturers/importers and the large amount of inventory held by medical institutions (not yet sold).
Of the estimated USD *** million (USD ***million, or ***%) in the domestic market based on the purchase price for medical institutions in 2022, approximately USD ***million (***%) is estimated to be paid for by health insurance benefits and the remainder by out-of-pocket payments from non-reimbursement patients.
This is due to the limited benefit standard of health insurance, which only allows up to two lifetime treatments for partially edentulous patients over the age of 65 (See Section 5.5.1 for more information on the benefit standard).
The amount of health insurance benefits paid for dental implants in 2022 was approximately USD *** million (approx. *** million, including fixtures and abutments), representing a compound annual growth rate of ***% from USD *** million (approx. *** million) in 2018.
The main growth driver for this period was the expansion of health insurance coverage from July 2018 to those aged 70 and over to those aged 65 and over, which attracted more people to dental implant procedures by reducing out-of-pocket expenses.
Dental implants are categorized into (1) dental implant fixtures and (2) dental implant abutments. Although they are marketed as separate products, the fixture and abutment are used as a set.
Dental implant fixtures are chemically treated on the surface of the implant to promote osseointegration and osteogenesis, and depending on the surface treatment method, the product is classified and the amount of the health insurance treatment material limit varies.
Of the total amount of claims for fixtures in 2022, about USD ***million (about ***units), products with the SANDBLASTED LARGE GRIT ACID ETCHING (SLA) treatment method were claimed the most, with about USD *** million (about *** units) in claims in 2022.
Dental implant abutments are categorized according to their connection method and shape. Mainly, they are categorized into (1) integral type and (2) detachable type according to the method of connecting the abutment and the abutment screw.
In 2022, out of the total amount of claims for abutments, about USD *** million (about *** units), the amount of claims for detachable products was about USD ***million (about *** units), and the amount of claims for integrated products was about USD *** million (about *** units), showing that the amount of claims for detachable products was about ***times higher.
The main material for dental implants is titanium. Although zirconium and zirconia have been developed and introduced, they are not as widespread as titanium.
More than ***% of dental implants are performed in clinics. When looking at the reimbursement volume of the dental implant market by type of medical institution in 2022, out of a total of about USD *** million in health insurance claims, about USD *** million (***%) came from dental clinics, USD *** million (***%) from dental hospitals, and USD *** million (***%) from general hospitals, with a compound annual growth rate of ***% during 2018-2022.
Out of a total of *** million health insurance claims, about ***million (***%) were made by dental clinics, *** (***%) by dental hospitals, and *** (***%) by general hospitals.
As of January 2023, a total of *** products from a total of 94 manufacturers/importers are listed as covered or noncovered under health insurance in Korea (Based on product codes listed in the National Health Insurance Service Reimbursement Therapeutic Materials & Maximums Formulary).
Major suppliers of the dental implant market include Osstem Implant, Diio, Dentium, Straumann, Dentsply Sirona, Dentis, ShinHung, MegaGen Implant, NeoBiotech, and ZimVie Inc.
The market share of the major companies in the dental implant market is estimated to be***% for Osstem Implants, ***% for Dentium, and ***% for Straumann. It is estimated that the combined market share of the top two suppliers (Osstem Implant and Dentium) accounts for about ***% of the total market, with other suppliers splitting the remaining market.
Dental implants were introduced into Korea in the 1980s, and until the early 2000s, the market was dominated by imported products such as Straumann and Brenemark.
In 2014, the National Health Insurance Service began to recognize dental implants as a benefit for people aged 75 and older, but as the upper limit for treatment materials was set at a significantly lower price than the selling price of imported products before the benefit, the market share of imported products began to gradually decrease, and the market share of domestic manufactured products increased relatively, and a market centered on domestic manufacturers such as Osstem Implant and Dentium was formed.
As such, the dental implant market has been growing thanks to the policy of expanding health insurance coverage, and this direction is expected to continue in the future.
The domestic dental implant market is expected to continue to grow at a CAGR of ***% over the next five years, driven by an aging population, the number of periodontists, the prevalence of periodontal disease, and the expansion of denture coverage for the elderly (See Chapter 5.3 for more details).
On the other hand, new technologies for dental implants are hardly expected in terms of materials and designs. However, the introduction of digital solutions such as (1) oral scanners that accurately record the shape of teeth, (2) software for creating prosthetic designs, and (3) implant planning software are changing the practice behavior of dental clinics by introducing equipment to improve the accuracy and safety of procedures, and the impact on the competitive landscape of the dental implant market is expected.