Dental Practice Management Software Market Overview:
The software market for dental practice leadership is anticipated to be 10.5% CAGR over the forecast period. The growing geriatric population, the increased awareness of oral health in the United States and Europe as well as the acceleration of technological developments in advanced areas are the factors responsible for this industry. The growing geriatric population will mainly drive the market. The 2017 World Population Prospects review estimates that the proportion of the elderly of 60 years and older is projected to expand more than double by 2050 and more than three times more by 2100, i.e. from 962 million in 2017 to 2,1 billion in 2050 and further to 3,1 billion worldwide in 2100. In 2017 there were around 962 million individuals globally aged sixty or older, which makeup 13% of the world s population and currently grow at a pace of about 3% per year.
The growing aging population anticipates that the likelihood of individuals living with dental problems will grow, leading to a growing need for dental software in both developing and developed countries. Factors such as the lack of qualified IT experts can, however, reduce market growth.
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Market Scope
Dental practice management software offers dentists and related health professionals with the instruments they need to oversee their daily activities. The capabilities of these products include scheduling appointments, storage and sharing of documents, contact and reporting bases as well as charts of dental history, patient notes and therapy plans. They may also include communication platforms for dentistry staff and help with insurance claims and monitoring. Receptionists and dentists use these instruments to guarantee that their companies function smoothly and that critical data is stored securely and easily accessible.
Market Trends
Web-based dental practice management is fully accessible via a web browser and no software is installed or necessary on the user s device. All information and software are remotely hosted and accessed via the internet. This is one of the major benefits of dental practice management software based on the Internet. And in the current market scenario, the most used software is the web-based one, but the cloud-based software is expected to increase in the coming years. The use of personal instances of the application in the web-based model is one of the major differences between the web-based portal model and the cloud-based model, while in the cloud-based model, the model provided is standardized for all clients. In fact, unlike cloud-based, the primary factor which hinders the development of the web-based model section is that it operates on the web servers of the provider only.
The market for dental practice management software is dominating in North America at the moment and is anticipated to continue for a few more years. The United States maintains the biggest market share in the North American region. Since the Health Information Technology for Economic and Clinical Health Act HITECH was introduced in 2009, the use of dentistry management software in the United States has increasingly increased. Until a decade ago, nine out of ten doctors in the US manually updated and stored the patient s records in color-coded files.
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Competitive Landscape
The software market for dental practice management is moderately competitive and consists of several key players. Some of the main players presently dominate the industry in terms of market share. With the growing amount of elderly and mobile health needs, several other smaller players are also entering the market and are anticipated to have a significant share. Carestream Dental, Patterson Companies Inc., Henry Schein Inc., Curve Dental, Inc. and ACE Dental are among the main players on the market.
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