PUBLISHER: The Business Research Company | PRODUCT CODE: 1392607
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392607
“Dental Practice Management Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dental practice management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dental practice management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The dental practice management market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The dental practice management refer to software solutions and tools used to operate dental, medical, and healthcare practices in an efficient and organized method. The purpose of the software is to help in improving communication between dentists, their staff, and patients by increasing the legibility of clinical notes and documents and reducing clinical mistakes in the process.
The main deployment modes of dental practice management include web, cloud, and on-premises based. Web-based dental practice management refers to web-based dental software that provides clinical operation support, dental EHR, and administrative support to independent and DSO practices over the internet with a web browser. Patient communication software, invoice/billing software, payment processing software, and insurance management are the applications of dental practice management. This software is used by dental clinics, hospitals, and others.
The dental practice management market research report is one of a series of new reports from The Business Research Company that provides dental practice management market statistics, including dental practice management industry global market size, regional shares, competitors with a dental practice management market share, detailed dental practice management market segments, market trends and opportunities, and any further data you may need to thrive in the dental practice management industry. This dental practice management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The dental practice management market size has grown rapidly in recent years. It will grow from $1. 74 billion in 2023 to $1. 94 billion in 2024 at a compound annual growth rate (CAGR) of 11. 4%. The growth in the historic period can be attributed to integration with accounting systems, interoperability with diagnostic devices, patient portal development, mobile accessibility, customization for specialty practices, enhanced data security measures. .
The dental practice management market size is expected to see rapid growth in the next few years. It will grow to $2. 91 billion in 2028 at a compound annual growth rate (CAGR) of 10. 6%. The growth in the forecast period can be attributed to digital transformation in healthcare, increased adoption of cloud-based solutions, focus on patient-centric care, cybersecurity and data privacy measures, mobile accessibility and remote work support. . Major trends in the forecast period include patient retention and loyalty programs, customization and scalability, educational and training tools, appointment optimization and resource management, patient portal development. .
Growing oral diseases are significantly driving the growth of the dental practice management market. Oral diseases are health conditions that affect the mouth, teeth, gums, tongue, and other structures, leading to issues such as cavities, gum disease, and oral infections. The rise in oral diseases leads to surge in demand for dental services and necessitates more efficient and technologically advanced practice management solutions to streamline operations, improve patient care, and enhance the overall dental practice experience. For instance, in 2022, according to the World Health Organization, a specialized agency of the United Nations responsible for international public health, oral disorders impact 3. 5 billion people worldwide, or about half of the world's population. Three out of every four affected individuals reside in low- and middle-income nations. Therefore, increasing oral diseases are expected to boost demand for dental practice management market.
The growth in aging population is significantly driving the growth of the dental practice management market. An aging population refers to a demographic shift characterized by a higher proportion of elderly individuals (typically aged 65 and older) relative to younger age groups within a given population. The prevalence of oral health issues, such as dental decay, gum disease, and tooth loss, increases with age. Dental practitioners are increasingly embracing these technologies to provide comprehensive and personalized care, addressing the unique challenges associated with an aging patient demographic, and contributing to the overall growth of the dental practice management market. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, globally, 1 in 6 individuals would be 60 or older by 2030 and is expected to reach 2. 1 billion elderly people by 2050. Therefore, grow growth in aging population is expected to boost demand for dental practice management.
Major companies are strategically entering partnerships and collaborations with start-ups and mid-sized companies in the dental practice management market to broaden the products and services offered by the company. Strategic collaborations and partnership agreements help companies expand their existing product portfolio and geographical reach. For instance, in June 2021, Curve Dental, a US-based provider of cloud-based dental management software, announced a collaboration with LocalMed, a US-based dental intelligence company, to obtain access to Dental Intelligence's online scheduling system. This agreement aims to make it easier for clinics to include the company's practice management software, which enables patients to schedule virtual appointments.
Major companies operating in the dental practice management are focused on introducing new innovative products to sustain their position in the market. Innovative products in dental practice management encompass advanced software and technologies designed to optimize patient care, streamline administrative tasks, improve workflow efficiency, and enhance the overall dental practice experience through cutting-edge solutions and features. For instance, in June 2021, Planet DDS, a US-based software company launched the Internal and External Referral Management Tool within Denticon, its flagship practice management solution. This robust and fully integrated referral management system is the first of its kind for dental practice management solutions. It will allow practices to seamlessly track and manage referrals within a group or with external providers.
In August 2022, Planet DDS, a US-based provider of cloud-based dental software, acquired QSIDental from NextGen Healthcare, Inc., for an undisclosed amount. This QSIDental acquisition will include QSIDental Web®, reinforcing Planet DDS's commitment to cloud-based solutions for dental practices to navigate and discover new opportunities during unusual times in the industry. QSI Dental is a US-based practice management and EMR system for dentists.
Major companies operating in the in the dental practice management market report are Henry Schein Inc., Patterson Companies Inc., NextGen Healthcare Information Systems LLC, ACE Dental, Carestream Dental LLC, Planet DDS Inc., CD Newco LLC (Curve Dental), Open Dental Software, Datacon Dental Systems Inc., DentiMax LLC, Dentrix Ascend, Easy Dental, Fuse, Gaidge, Lighthouse 360, MacPractice Inc., MOGO Inc., Ortho2, Practice-Web Inc., ProSites Inc., RevenueWell Systems LLC, Solutionreach Inc., Tab32 LLC, The Digital Dentist, Total Dental Administrators, Umbie DentalCare, Weave Communications Inc., YAPI Inc., ZenSupplies Inc., Patterson EagleSoft
North America was the largest region in the dental practice management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dental practice management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the dental practice management market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The dental practice management market includes revenues earned by entities by providing services such as scheduling appointments with patients, maintain clinical documentation, handling patient charts and compile notes, billing patients and insurance companies, staff time scheduling and tracking, process insurance claims. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.