The Dental Practice Management Software Market has been continually witnessing healthy growth over the past few years. Recent developments in oral healthcare technologies have increased the adoption of software across the world. Moreover, rising awareness about oral care and rising per-capita dental healthcare expenditures are accelerating the market growth on a global level.
Market Research Future (MRFR) asserts that the global dental practice management software market is expected to register substantial growth by 2023. MRFR, in its recently published report, also confirms that during the period 2017 – 2023, the market would post an impressive CAGR. The rising geriatric population is providing various growth opportunities for service providers in the oral healthcare industry.
Increasing technological advancements in the dental field are enhancing the efficiency of practices. This, in turn, is prognosticated to accelerate the adoption of dental practice management software in the industry. Changing lifestyle and food habits is another key driving force complementing the growth of the global dental practice management software market.
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Growing prevalence of dental disorders is a dominant factor likely to accelerate the revenue generation for the market participants. On the flip side, lack of skilled professionals is a major factor obstructing the growth of the market. Nevertheless, substantial investments would support the global dental practice management software market over the assessment period. The market scenario looks attractive at present and is forecasted to remain highly lucrative in the coming years.
Key Players for Global Dental Practice Management Software Market
Some of the eminent leaders of the market include Henry Schein, Curve Dental, Practice Web, NextGen Healthcare Information Systems, LLC., DentiMax, Patterson Dental, Carestream Dental, Dovetail Dental Software, and Allscripts Healthcare Solutions, among others.
Industry Related News:
October 02, 2019 – CareStack (India), a cloud-based technology platform for the dental industry, announced that it has raised USD 28 MN in a Series B round driven by hedge fund Steadview Capital and the California arm of Delta Dental, the largest dental plan system in the US. CareStack’s leading solution is a complete clinical and business management platform on the cloud to manage all major functions of a dental practice.
CareStack’s service offerings can revolutionize the US dental industry, which has been traditionally slow in technology adoption in the industry. India serves as the engineering center for the firm and is involved in product research, development, and support. CareStack plans to adhere to its core competence in the dental space, within which it is building integrated tools that connect consumers, dentists, insurance companies, and employers.
Fiercely competitive, the dental practice management software market appears to be fragmented owing to the presence of several well-established players. To churn the competition in the market, these players adopt strategic trends such as collaboration, M&A activities, and innovations. For business expansion in the emerging markets, matured players are focusing on optimized situational awareness for customers.
They increasingly invest in R&D activities to develop a cost-effective product portfolio. These players develop state of the art facilities for software development and strong sales & distribution network, which help them to gain a leadership position in the market.
Segments – Dental Practice Management Software Market
The report is segmented into four dynamics to widen the scope of understanding,
By Deployment: On-cloud and On-premise.
By Application: Patient Management, Charting, Insurance Management, Invoicing/Billing, and others.
By End-user: Dental Clinics, Hospitals, and others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Regional Analysis – Dental Practice Management Software Market
North America and Europe are leading in the global dental practice management software market. Healthy growth in dentistry and high concentration of developed economies in these regions drive the dental practice management software market. The presence of well-established healthcare sectors boosts the growth of the market in these regions.
Besides, the increasing focus on oral health and growing importance on providing patients with quality healthcare while working toward increasing operational efficiency, propel the regional market growth.
The dental practice management software market in the Asia Pacific region is rapidly emerging as a promising market. Spreading awareness for dental care and rising per-capita expenses on oral care along with the increasing usages of IT for dental practice management drive the regional market growth. Besides, the burgeoning healthcare sector and rapidly improving economic conditions, alongside the market penetration of healthcare technology in the region, define the market landscape.
The APAC dental practice management software market with some of its untapped regions offers high growth opportunities. Furthermore, the presence of a large patient population and the rapidly changing healthcare sector in the region provide impetus to the market growth. Investments in oral health care in countries such as India, China. South Korea and Indonesia are creating a huge demand in the DPMS market, providing more advanced healthcare options.
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