Jun 2020 | Report Format: Electronic (PDF)
The global dental practice management software market size is expected to reach USD 3.8 billion by 2027, expanding at a CAGR of 10.2% during the forecast period, based on a new report by Grand View Research, Inc. Market growth can be attributed to the increasing geriatric population along with an expected increase in oral healthcare expenditure and in number of dental practices.
According to the U.S. Census Bureau’s International Data Base, the population of individuals who are 45 years and older is expected to grow by about 12.0% between 2015 and 2025, while the total U.S. population will increase by about 8.0% during the same period. Furthermore, the expected increase in oral health insurance coverage and favorable government initiatives could drive the market during the forecast period.
The usage of various modules increases the productivity and efficiency of dentists. Furthermore, technological advancements in the field and growing investments by companies in emerging economies are expected to propel market growth. Integrated software solutions help in streamlining the dental practices.
Mergers and acquisitions for the development and commercialization of products are likely to drive market growth in the coming years. In 2018, Henry Schein, Inc., formed Henry Schein One, LLC in a joint venture with Internet Brands, a software company. The new company was launched with an intention to provide integrated dental technology to medical practitioners in order to improve patient communication and practice management.
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Further key findings from the report suggest:
By deployment mode, the web-based segment dominated the dental practice management software market in 2019 owing to the reasonable pricing structure. The cloud-based segment may surpass the web-based and on-premise segments over the coming years owing to the additional advantages
The cloud-based dental practice management software segment is projected to grow at the fastest rate during the forecast period. This is due to its flexibility, disaster recovery system, automatic software updates, increased collaboration, ability to work on any internet connected device, security, environment-friendly features, and ability to establish competition
By end use, the dental clinics segment accounted for the largest market share in 2019 and is expected to exhibit the fastest CAGR over the forecast period
In 2019, North America dominated the global market due to favorable government initiatives, local presence of key players, growing geriatric population, and high oral healthcare expenditure
Asia Pacific is expected to grow at the fastest rate over the forecast period owing to increasing investments by industry players and rising awareness about oral healthcare
Some of the market players operating in the industry are Henry Schein, Inc.; Patterson Companies, Inc.; Carestream Dental; Curve Dental, Inc., DentiMax, LLC; Practice Web, Inc.; NextGenHealthcare Information Systems, LLC; and ACE Dental Software.