Acumen Research and Consulting, recently published report “Dental Practice Management Software Market Size, Share, Growth, Trends and Forecast, 2019 - 2026”.
LOS ANGELES, May 22, 2019 (GLOBE NEWSWIRE) -- The Global Dental Practice Management Software Market is estimated to grow at CAGR above 11.5% over the forecast time frame 2019-2026 and reach the market value around USD 2.8 billion by 2026.
A huge health burden is posed by the increasing prevalency of oral diseases such as dental cavities and periodontals worldwide. This is due to demographic changes, such as an increased pool of elderly patients with such diseases. General Surgeon, about 25 percent of people 65-74 years of age suffer from severe parodontal disease that will increase future dental software demand.
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The global dentistry management market will grow by increasing focus on oral health and increasing awareness among elderly patients. Moreover, the positive government initiatives of various organisations, including the American Dental Association, to raise awareness of the importance of oral health will encourage market growth.
Increasing venture capital investments together with government regulations that encourage the adoption of various IT solutions, such as electronic medical records, patient management and practical management, will fuel the expansion of the industry.
The development and integration of dental imaging software into management software in the cloud is a technological breakthrough that drives software market growth for dental practices. However, the absence of qualified ISPs worldwide to provide software and services will hinder business growth.
The business segment will be in command of the market with sales of more than US$ 240 million for dental practice management software in 2018 and will enjoy strong growth in the next couple of years. Increasing elderly patients with oral conditions will increase dental inspections and visits, driving growth in the segment.
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Based on its advantages such as automatic payment and billing records, facility of payment, reduced paper entry data work, the filing of dental claims and the increased efficiency of processes, the billing/invoicing company is projected to have significant GRACs of over 11.5%. In addition, the development by key players of the industry of innovative software for easy billing and invoicing will stimulate segmental growth.
More than 40 percent of the world's software market was dominated by web-based software in 2018, and then by on-site solutions. Development of a system for on-site management of dental practices by industry actors that will support industry growth, that includes clinical paperless graphing, patient planning and accounting / billing applications. However, due to the economical efficiency and efficiency offered by these advanced solutions, the on-site segment is expected to lose its revenue share of cloud-based delivery.
Regional Stance
The U.S. software market for dental practice management accounts for over 39 percent of the software market and should maintain its dominance throughout the forecast period. The software of dental practical administration should increase at higher adoption rates due to expansion in the field of IT healthcare. In the years ahead, rapid technological innovations and increased public financing are expected to further stimulate market growth.
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Due to the growing geriatric population and the government's support for raise awareness of oral hygiene among the population, the software market of UK dental practice management will grow around 11.5 percent over the forecast timeframe. Moreover, due to the presence of geriatrics with oral problems coupled with increased dental health awareness amongst patients, Japan's dental practice management software market is expected to grow by over 13%.
Key Participants
Henry Schein, Patterson Dental, Carestream Dental, Curve Dental and Quality Systems are some of the major players working on the global market. Other participants in the industry include Epic Systems Corporation, Dovetail Dental Software (dovetail dentistry), and Allscripts Healthcare Solutions. The major strategies adopted are procurement, new product launch and distribution.
In the next few years, fusions and acquisitions for product development and marketing are expected to drive the market. In June 2018, Patterson entered a new joint venture with Cure Partners to establish LLC-NaVetor, a new Club-based Practice Management Software company-Technology Partner Innovations.
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