Chicago, Aug. 19, 2024 (GLOBE NEWSWIRE) -- The "Dental Practice Management Software Market Size, Share & Trends by Deployment Mode (Cloud-based, Web-based), Application (Patient Communication, Insurance Management, Billing/Invoice), End User (Dental Clinics, Hospitals, DSO, Academic Institutes) & Region - Global Forecast to 2028" report highlights substantial growth projections. It anticipates the market to escalate from $1.5 billion in 2023 to $2.3 billion in 2028, at a notable CAGR of 8.6%. The Dental Practice Management Software (PMS) market is driven by increasing awareness of oral hygiene, a growing demand for advanced dental procedures, and the rise of dental tourism in developing countries. However, data privacy and security concerns pose significant challenges. The market is segmented by deployment mode, application, region, type, and end user. Key drivers include the rising demand for cosmetic dental procedures and the consolidation of dental practices into Dental Service Organizations (DSOs), which are expanding rapidly due to private equity funding and supportive legislation. Nonetheless, resistance to adopting new technologies and limited resources in developing countries hinder market growth. In 2022, North America led the market, fueled by a high geriatric population, increased awareness, and substantial private equity investment. Prominent market players include Henry Schein Inc., Patterson Companies Inc., CareStack Inc., Open Dental Software Inc., and Carestream Dental LLC, which employ strategies like partnerships and acquisitions to strengthen their market position.
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Henry Schein, Inc. (US): Leading Provider in Dental Practice Management
Henry Schein, Inc. stands out as a prominent player in the dental practice management software market, offering a comprehensive range of products and services to dental and medical practitioners. The company operates or has affiliates in over 34 countries, including major markets such as the US, Australia, China, France, Germany, Japan, and the UK. With a customer base exceeding 1 million globally, Henry Schein is recognized for its extensive reach and robust service network.
Patterson Companies, Inc. (US): Key Player in Dental Practice Management
Patterson Companies, Inc. is a significant player in the dental practice management software market, delivering solutions through its Patterson Dental subsidiary. Serving the US and Canadian markets, Patterson Dental achieved a nearly 6% internal sales growth in FY 2022. The company supports over 100,000 dental practices, laboratories, educational institutions, and community health centers with a diverse range of products, including consumables, dental technology, and innovative practice optimization solutions. These solutions encompass practice management software, e-commerce, revenue cycle management, patient engagement, and clinical education.
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Deployment Mode Insights in the Dental Practice Management Software Market
The dental practice management software market is segmented by deployment mode into cloud-based, web-based, and on-premise solutions. In 2023, the web-based segment dominated the market, primarily because it allows users to access data and software remotely via the internet, eliminating the need for local software installation or downloads.
End User Growth Trends in Dental Practice Management
By end user, the "other end users" segment is anticipated to grow at the highest CAGR. This growth is driven by the increasing number of Dental Service Organizations (DSOs), particularly in developed countries, and the surge in private equity investments in DSOs in the US. Additionally, the rise in dental tourism in developing countries due to cost benefits and enhanced convenience contributes to this segment's expansion.
Regional Growth Forecast for Dental Practice Management Software
The market is expected to see the fastest growth in the Asia Pacific region during the forecast period. This is attributed to rising government healthcare expenditures in major countries like India and China, alongside the growing adoption of new technologies.
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