Market Overview:
The global market for dental software is projected to expand at 8.0% CAGR during the forecast period (2016-2027), forecasts Market Research Future (MRFR). The dental software increases the productivity and efficiency of dentists. Also, features such as appointment scheduling, reminder service, tooth charting, payment, and electronic health records drive the demand for dental practice management software. Also, growing geriatric population and increase in oral healthcare expenditure augment the market growth.
The market growth can also be attributed to technological development and government initiatives for oral healthcare industry. For instance, the Health Information Technology for Economic and Clinical Health Act (HITEC) practiced under title XIII of the American Recovery, and Reinvestment Act of 2009 promotes and accelerates the adoption of health information technology in the United States. Apart from this, the need to cater to the large patient pool efficiently calls for advanced technological adoptions by the dentists which buoy the market growth globally.
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On the flip side, high initial set up cost undermines the progress of the market. However, despite the threats, the market is deemed to soar high in the coming years on the back of rising investments by venture capital firms to conduct research and development activities for product development. For instance, a software called Auxpanel has been developed recently that provides practice management tools to dentists, tracks collection progress and completed procedures and filters by practice and provider.
The recent market trends include adoption of cloud-based dental software by healthcare industry. Cloud-based software increases efficiency reduces redundancy and saves crucial time. On account of these pros, this type of software has been able to enrich patient experience and propelled the market growth considerably in the past few years.
Market Players:
Abeldent
Dentimax LLC
Carestream Health
Ace Dental Software
Sirona Dental Systems
Consult-Pro
And Patterson Dental and many others.
Market Segmentation:
The Global Dental Software Market is segmented on the basis of type, application, development, and end-users.
The types of dental software market are practice management software, patient communication software and treatment planning software. Patient communication software is convenient for large practices with a substantial patient volume. It also prevents no-show appointments, saves the front desk staff a significant amount of time and saves money for the establishment. These factors have led to tremendous growth of patient communication software around the world.
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The type of application mentioned in the report is clinical and administrative. The clinical uses of dental software are appointment scheduling, entry of payment, managing claims, and print patient statements. Many such benefits of the software for clinical purposes result in expansion of the market.
By deployment, the market is segmented on the basis of on-premise and web-based. The web-based dental software offers a plethora of benefits including lower computer costs, unlimited storage capacity, easy access to patient database, and instant software updates for enhanced productivity.
The various end-users extensively utilizing dental software are hospitals and clinics, and academics & research institutes. Hospitals and clinics occupy the largest share of the global market as dental software is used in various applications from data management to treatment planning. Also, growth of arrival rate of dental patients in clinics and hospitals boosts the overall segment progress.
Regional Analysis:
The global dental software market is geographically split into Americas, Asia Pacific, Europe and the Rest of the World (RoW).
Globally the Americas region accounts for the maximum revenue share owing to increasing digital advancement in medical technology and massive investment for research and development of dental software by market players as well as the government. Moreover, high economic growth and strong healthcare industry growth in the region has brought about this market growth. Also, presence of ambitious industry players such as Henry Schein; Patterson Companies, and Carestream Dental give impetus to the regional market growth.
Worth noting is the massive growth the Asia Pacific region has observed with fastest growth rate due to progressing oral healthcare structure, increasing investment of healthcare information technology (IT) companies, and improving economic conditions in the region. India, China, Japan, and Korea are the contributing countries in the regional market. Furthermore, the region has become a hub for dental innovations due to continuous developing technology, highly skilled dentists, and major adoption of digital dentistry.
The Europe dental software market is anticipated to expand steadily, driven mainly on account of rapidly increasing geriatric population, growing digitization in dental healthcare management and elevated adoption of group dental practices. Furthermore, numerous innovative technological solutions along with mergers & acquisitions adopted by a few industry giants contribute to the market growth.
Industry Development:
Dental Lab Xchange (DLX) has launched its newest innovative dental software product also called Dental Lab Xchange (DLX). The dental software enables dentists to search for labs on a local, regional or even national level and choose the one for their specific restoration, quality specifications, and price. The software also enables the dentists to see the current status of the order and address any questions electronically avoiding any guesswork and misinformation.
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