Osstem Implant announced on the 11th that it won the bid for 491,090 sets, the largest amount among the participating companies, in the Chinese government's first bid for volume-based procurement (VBP) for dental implants.
The company explains that this is 2.3 times the amount that Straumann, the world's No. 1 implant company, won the bid.
VBP is a policy in which the government lowers prices by directly making large-scale purchases according to the results of a pre-demand survey to increase patient access to medicines and medical devices. China introduced the VBP policy for dental implants for the first time this year. They said that if implants were included in the VBP list, supply prices would fall, which would hurt domestic companies operating in China, but the results were the opposite.
In a demand survey of local dental clinics conducted by the Chinese government earlier, 47 percent, nearly half of those surveyed, said they would purchase Osstem implant products, the company explained. Osstem Implant plans to strengthen its promotion and operations in China, believing that if the price of implant procedures falls due to the implementation of VBP, demand will increase.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
