Selbyville, Delaware, Nov. 14, 2022 (GLOBE NEWSWIRE) --
The dental practice management software market value is projected to reach USD 6 billion by 2032, according to a new research report by Global Market Insights Inc.
Supportive government initiatives, along with a substantial rise in venture capital funding have augmented the deployment of novel dental practice management solutions. Over the past decade, the healthcare IT industry has acquired close to USD 13.4 billion in venture capital funds across 2,050 deals. The sector has also received USD 7 billion in public market and debt funding, including IPOs, bringing the total funding to over USD 20.4 billion. Venture capital firms invested USD 4.6 billion in 574 deals in healthcare IT firms. Therefore, rising venture capital funding and favorable government initiatives will bolster the adoption of practice management software in dental institutions over the forthcoming years.
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Dental practice management software market from the invoice/billing component segment is expected to surpass USD 1 billion by 2032. Billing or invoice software enables easy bill collection and payment. This practice management software component offers benefits such as the automatic generation of bill payments and billing records. Billing and invoice software is also utilized to file dental claims and increases process efficiency, reducing offline data entry work. These advantages are expected to fuel the adoption of billing/invoice software for dental practice management.
Browse key industry insights spread across 179 pages with 183 market data tables & 15 figures & charts from the report, “Dental Practice Management Software Market Analysis By Component (Scheduling, Patient Communication, Invoice/Billing, Payment Processing, Insurance Management, Dental Charting), By Delivery Mode (On-premise, Web-based, Cloud-based), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/dental-practice-management-software-market
Cloud-based delivery mode segment is projected to record more than 15.5% CAGR between 2023 to 2032. This can be credited to the novel features provided by cloud-based systems such as the ability to collaborate with current mechanisms, flexibility, and security measures. Prominent shifts in clinical data sharing and storage, in addition to the growing usage of digital technologies in healthcare organizations such as laboratories and dental clinics, have enabled the usage of cloud-based software. Moreover, data revolution and digitization have transformed countries such as Canada and the U.S. into data hubs with access to advanced cloud and data-based services. This, in turn, is likely to facilitate the use of novel practice management software solutions in dental care institutions in these regions.
Europe dental practice management software market is expected to depict over 12% CAGR from 2023 to 2032. This is attributed to the growing occurrence of dental disorders in the region. According to a report titled the State of Oral Health in Europe, more than 50% of the European population may be affected by some type of periodontitis. The growing burden of dental disease has necessitated the use of accurate dental practice management software, creating lucrative opportunities for regional market growth over the forecast period.
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Companies involved in the dental practice management software market include Henry Schein, Inc. Patterson Dental (Patterson Companies, Inc.), Carestream Dental, Curve Dental, and Quality Systems Inc., among others. Many of these companies are focusing on launching novel products to expand their business operations and maintain their stronghold in the global market.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
