Albany, NY -- (SBWIRE) -- 04/24/2018 -- Dental Practice Management Software Market: Overview
The global dental practice management software market is rising with increasing number of dental visits across the globe. The global dental practice management software market was valued over US$ 1.6 Bn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of over 11.0 % from 2017 to 2025 to surpass the value of US$ 4.3 Bn by 2025. The global market is witnessing relatively higher growth owing to increasing digitization of dental practices, high healthcare IT budgets and rise in demand for chair time optimization in developed markets.
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Dental practice management software is an administrative as well as clinical tool that helps in improving operational efficiency of dental practices. The dental offices are required to handle with the large volume of patient information both administrative as well as clinical information. In order to handle the large volume of data, dental professionals and front office staff are always in search of effective way to record, store and improve the access to patient information in efficient manner.
The dental practice management software aids the dental professionals to streamline the workflows of dental practices and thus to improve overall operational efficiency as well as patient care. The high prevalence and incidence rates of dental carries, periodontal diseases, increase in number of cases of missing teeth and prosthetic rehabilitation in global population has resulted in increase in patient flow to dental clinics and hospitals. These factors collectively projected to drive the demand for global dental practice management software in near future. Also, the technological advancements such as software integration facilities with other electronic health records and with dental systems is estimated to fuel the expansion of dental practice management software.
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Dental Practice Management Software Market: Segmentations
The global dental practice management software market is broadly segmented into four categories based on deployment mode, by application, by end-user and by region. In terms of deployment mode, the global market is categorized into on premise and cloud based dental practice management software. The market for on premise dental practice management accounted for key share (in terms of revenue) in global market in 2016, the cloud based dental practice management software is estimated to grow at exponential growth rate during the forecast period and the segment is estimated to report significant gain in its market share by the end of 2025. The cloud based dental practice management software offers the several advantages over on premise dental practice management software and thus, cloud based DPMS is increasingly gaining popularity among dentists especially among group dental practice management offices.
In terms of application, the global dental practice management software is segmented into patient management & billing, and clinical application. The patient management and billing segment is dominated the global market and is likely to maintain its dominance by the end of 2025 with marginal decline in its market share. Increasing adoption of digital platforms by the younger population for appointment scheduling, value added features provided by the patient management and billing applications such as paperless patient data recording and storage, e-billing and insurance claiming etc. has led to prominent share of the segment in global market. By en-user, the global market has been segmented into dental clinics and hospitals.
Geographically, the global dental practice management market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global market and is projected to lose its market share by the end of 2025. The Market in the North America is primarily driven the rapidly increasing geriatric population, high adoption of digital platforms in dental healthcare management and increasing group dental practices in the United States. Moreover, increase in the group dental practices has been observed in the United States which projected to fuel the expansion of cloud based dental practice management software in the United States during the forecast period. Asia Pacific region is projected to be fastest growing region in global DPMS market during the forecast period. In Asia Pacific region, Japan dominated the DPMS market whereas China is estimated to grow at exponential CAGR during the forecast period.
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Dental Practice Management Software Market: Competitive Landscape
The companies like Henry Schein Inc., Patterson Companies Inc., Patterson Companies Inc. and Web.com Group, Inc. etc. accounted for the major share in global DPMS market in 2016. The Henry Schein Inc., company has the customer base of more than 35,000 dental clinics and hospitals worldwide for its well renowned Dentrix practice management software. Other global players operating in the market include DentMax LLC, Ace Dental, Carestream Dental LLC, Open Dental Software, Planet DDS, Inc., and and MOGO, Inc. Companies are adopting the strategy acquisition and collaboration with parallel companies to improve and strengthen its geographic presence in international market.