Global Dental Practice Management Software Market: Snapshot
The global dental practice management software market is expected to display steadfast growth in the coming years mainly because of growing geriatric population globally and initiatives from several governments for oral health. As per statistics of the National Institute on Aging, in 2010, almost 524 million individuals, which is almost 8% of the global population were above the age of 65 years. By 2050, the number is expected to become 1.5 billion, which is almost 16% of the global population.
Advances in dentistry and advances in healthcare information technology along with rising awareness for oral health are also some pivotal factors driving the global dental practice management software market. In the U.S., for example, The Health Information Technology for Economic and Clinical Health Act fosters the adoption of health information technology.
Dental practice management software is all-important for modern dental practice. The set of powerful software connects the front desk with concerned departments and eliminates the need to store patient information on paper. The basic feature of practice management software is to store patient records, practice schedule, and all business information.
However, most software platforms offer much more capabilities that include management of clinical images, patient communications, and insurance claims. In addition, several dental practice management software enables clinicians to access key pieces of information remotely and allow patients to update and even submit information online.
The selection of dental practice management software for dental practices needs to satisfy initial and ongoing training requirement, reliable customer service, and timely upgrade of software.
Dental practice management software is an administrative tool that helps in operation of dental practices. The software is inclusive of all non-clinical operational functions such as appointment bookings, accounting, patient’s accounts, patient monitoring analytics, report generation, medical records, and bill generation. The software aids in maintaining high quality standard of patient care, is easy to use, saves time, and regularizes the data. Additional features can be added to enhance productivity such as anesthesia monitoring and use of radiographic systems.
The global dental practice management software market (DPMS) is projected to grow at a robust rate during the forecast period. Growing demand for dental services due to increase in geriatric population and rise in oral health care expenses are the key factors fueling the growth of the global dental practice management software market. Furthermore, technological advancements in the software, reduction of manpower, rise in investment by companies, integrated software with all features within a small package, higher penetration rates leading to increase in providers, and rise in demand for health care IT systems are the major factors augmenting the global market during the forecast period. However, high cost of software can restrain the dental practices management software market in few developing countries during the forecast period.
The global dental practice management software (DPMS) market can be segmented based on application, deployment mode, end-user, and region. In terms of application, the global market can be divided into appointment scheduling, patient communication, electronic claims, report generation, and others. The appointment scheduling segment is expected to dominate the global market due to increase in dental checkups as a result of rise in awareness about oral health. Based on deployment mode, the global dental practice management software market can be divided into web-based and cloud-based. The cloud-based segment is anticipated to grow at a robust rate during the forecast period. Factors such as availability of data at any point of time irrespective of place and no need of IT investments are propelling the segment. In terms of end-user, the global market can be segmented into corporate dental practices, individual dentists, and non-profit dental practices.
Geographically the dental practice management software market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the market, accounting for the largest share. High adoption rate of the software and increased oral health care expenditure propel the market in North America. Furthermore, technological advances in the software such as billing integrated with electronic health records have increased the penetration rate of the software in the region leading to market growth. Asia Pacific is anticipated to register faster growth rate during the forecast period. Asia Pacific is the most lucrative market due to increasing geriatric population, adoption of health care IT solutions for better standard of life, and rise in awareness towards oral health care.
Key players have adopted strategies such as mergers and acquisitions, cost effective and efficient products, and collaborative partnerships to sustain market position. Prominent players operating in the global dental practice management software market are ACE Dental, MOGO, Inc., Carestream Health, Patterson Companies, Inc., MacPractice, Inc., Henry Schein, Inc., Practice-Web, Datacon Dental Systems, and Dentisoft Technologies, among others.
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