Newark, NJ, Sept. 29, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global dental practice management software market is expected to grow from USD 1.82 billion in 2019 to USD 3.98 billion by 2027, at a CAGR of 10.3% during the forecast period 2020-2027.
Dental practice management software is used for dental practice operations in order to improve these operations by streamlining office workflow, expanding clinical efficiencies, and increasing staff productivity. This software presents the tools necessary for dentists & healthcare professionals to oversee their day-to-day operations. It aids in performing many activities such as document storage & sharing, appointment scheduling, reporting, contact databases, treatment plans, and patient notes, among others. Some of the major factors expected to drive the dental practice management software market growth are increasing adoption of healthcare I.T. solutions, rising geriatric population, ongoing technological developments, and increasing private as well as government funding.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets. However, due to the high influx of covid-19 patients, the workload of hospitals has become oversaturated, and the need for dental practice management software is rising to provide some ease to the healthcare personnel. Some factors that are hindering the market growth are high maintenance costs and the dearth of skilled I.T. professionals.
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Key players operating in the global dental practice management software market include NextGen Healthcare Information Systems, LLC, Patterson Companies, Inc., Carestream Dental, DentiMax, LLC, Practice Web, Inc., Henry Schein, Inc., Athenahealth, ACE Dental Software, Curve Dental, Inc, and Datacon Dental Systems, Inc., among others. To gain a significant market share in the global dental practice management software market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. NextGen Healthcare Information Systems, LLC and Henry Schein, Inc. are some of the biggest providers of dental practice management software in the global market.
- For instance, a cloud-based software provider in the U.S., Planet DDS, formed a partnership with Advanced Dental Management (ADM) in December 2017. Through this collaboration, ADM gained a worldwide view of centralized reporting, practice operations, and access to information anytime-anywhere. Denticon, a software by Planet DDS, is a powerful, flexible, cloud-based practice management software widely known throughout the United States.
- Patterson Dental introduced a new cloud management software Fuse-to, in April 2018, in order to help dental professionals collect reports and schedule patients.
Web-based dominated the market and held the largest market share of 40.9% in the year 2019
Based on the deployment mode, the market has been divided into cloud-based, web-based, and on-premise. Web-based dominated the market and held the largest market share of 40.9% in the year 2019. This is due to factors like the development & commercialization of updated versions of dental practice management software, universal access to the patient database, reasonable pricing, higher security, and unlimited storage capacity.
Patient communication software dominated the market and valued at USD 0.47 billion in the year 2019
The application segment comprises of payment processing software, invoice/billing software, patient communication software, insurance management, and others. Patient communication software dominated the market and was valued at USD 0.47 billion in the year 2019. The large share of this segment can be attributed to factors like its growing adoption & advanced features such as family reminders, patient satisfaction surveys, and text messaging for reminders.
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Dental clinic dominated the market and held the largest market share of 37.5% in the year 2019
On the basis of end-use, the global market has been divided into hospitals, dental clinics, and others. Dental clinic dominated the market and held the largest market share of 37.5% in the year 2019. The primary factor responsible for the large market share is the increasing adoption of dental practice management software by various dental clinics worldwide. The dental clinic segment is also projected to grow at the highest CAGR during the projected timeframe.
Regional Segment Analysis of the Dental Practice Management Software Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global dental practice management software market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 42.1% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as favorable government policies, high oral healthcare expenditure, increasing geriatric population, and the presence of major industry players like Henry Schein & Carestream Dental. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2020-2027. This growth is owing to factors like improvement of oral healthcare structure, improving economic conditions, increasing awareness, and rising investments by key players.
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About the report:
The global dental practice management software market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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