With the rapid aging of the population, the demand for dental implants is also on the rise. The global dental implant market is expected to grow from $6.86 billion in 2023 to $9.85 billion by 2027, with an average annual growth rate of 9.4%.
Last year, South Korea ranked second in export volume, following Switzerland, solidifying the reputation of 'K-Implant'.
According to the Korea Customs Service's report on the export status of implants in major countries, Korea jumped from sixth place in 2014 to second place last year, and it is expected to become the world's number one implant exporter within three years, backed by a fivefold increase in export volume.
Notable domestic companies excelling in the global implant market include Osstem Implant and Dio. Osstem Implant operates 36 overseas subsidiaries in 32 countries and has recorded the highest global sales. In May, it acquired 'Implasil de Bortoli', the third-largest player in the Brazilian implant market, which is expected to accelerate its penetration into the Latin American market. The company aims to secure 50 overseas subsidiaries in 46 countries by 2026, solidifying its global sales network and increasing its overseas revenue share to 70%, aspiring to become the 'world's number one dental company'.
Osstem Implant is also focusing on the development and dissemination of software that enhances the efficiency of dental operations, in addition to hardware elements such as oral scanners, computed tomography (CT), milling machines, and 3D printers, which signify the digitalization of dental treatment and care known as 'Digital Dentistry'.
Osstem Implant was a pioneer in dental software. Established in 1997, D&D Systems, which grew its business with the dental insurance claim program 'Dubeon' and the dental electronic chart program 'Hanaro', is the predecessor of Osstem Implant.
Dio, which commercialized the world's first digital implant system 'Dio Navi' in 2014, is building a full lineup of digital dentistry solutions, from implants to prosthetics and orthodontics, including digital orthodontics and digital support systems. As of last year, Dio's revenue share from the Americas and Europe was 17.5% and 12.1%, respectively, indicating a higher proportion of sales in developed countries compared to domestic implant competitors.
To aggressively target the U.S. market based on its digital solutions, Dio acquired Whitecap in 2019. They are expanding the adoption of 'Dio Navi' in the U.S. market through training and clinical support for American dentists and dental hygienists, which is crucial for digital implant procedures. Additionally, in 2022, they expanded their product sales network in the U.S. through sales contracts with dental equipment dealers such as Patterson, the second-largest dental equipment dealer in the U.S. They also signed a contract with Heartland, the number one group dental practice in the U.S., last year.
Dio is pursuing a strategy of focusing on general implants and expanding in the rapidly growing Chinese implant market. They have secured strong regional distributors and established a Shanghai center in January 2020 to enhance services related to implant training and procedures.
[Nam Yeon-hee, Maeil Business Newspaper Health Reporter]
