Dental Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
The world of dentistry continued to move ahead at a massive pace and is witnessing an increasing influx of advanced technologies. From witnessing the use of electric handpieces as replacement for speed belt driven tools to using tiny yet high-precision digital cameras to capture dental impressions to employing laser instead of scalpels, conventional dental practice has moved miles ahead in the present day scenario. Digital technologies are rapidly making inroads in the field of dentistry and soon the 3D technology is projected to transform the field.
For a fully digital workplace to work effectively, the seamless incorporation of all devices, tools, and procedures requires effective software solutions. With rising adoption of digital technologies, especially across developed and certain developing economies, the global dental industry is expected to create massive growth opportunities for the global software industry in the next few years. To seize the promising growth opportunities that the industry has to offer, several software companies across the globe are increasingly foraying into the field of dental software.
With competition already intense owing to the presence of a large number of vendors, the market is witnessing attempts by companies at improving the set of features in their software solutions, more focus on development of solutions with extended connectivity options, flexible multiplatform operations, and radically improved user interfaces. The rising use of the mobile media in a number of functional areas of dentistry is also expected to have a major transformational effect on the overall development of the global dental software market.
The world market for dental software is looking to take advantage of the growing adoption of dental practice management software, especially in developed countries such as the U.S. For the major part of the demand, legislations such as the Health Information Technology for Economic and Clinical Health (HITECH) Act have played a pivotal role. Programs such as the Meaningful Use encourage providers to function on a fixed set of standards formulated by the Centers for Medicare & Medicaid Services (CMS) and adopt technologies such as electronic health record (EHR). Moreover, the switch from desktop to cloud based software systems such as Denticon has boosted the market for enterprise dental practice management software.
Some of the vital categories for the segmentation of the global dental software market are application, component, type, deployment or delivery mode, and end user. A study of the market segmentation allows buyers to peep into the near future and current scenario of the global industry.
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According to the delivery mode type of segmentation, the world dental software market could be classified into on-premise, web-based, and cloud-based. With a high security assurance, cheaper price, prompt software updates, large presence of industry players, and limitless storage capacity, the web-based segment is predicted to hold a mammoth share. However, cloud-based delivery mode is foreseen to rise rapidly while riding on the surging response to the inflating patient-centricity trend.
By component, the segmentation could include patient communication, scheduling, and invoice and billing as commanding segments among others. Out of which, scheduling module gained traction with the indispensable features provided for maximizing resources and accurately scheduling dental checkups.
A host of opportunities in the global dental software market is envisioned to birth from the increasing focus on improving oral healthcare and providing quality service to patients. The global aging population demanding oral healthcare services is also laying a solid platform for growth. As per the National Institute on Aging, the population aging 65 years and above is expected to reach 1.5 bn by 2050 in the U.S. itself.
Hospitals and dental clinics are finding it feasible to adopt various dental software with the availability of subscriptions. Plus, they are quite impressed with the level of assistance received with the use of these software.
With a geriatric population base in millions, the North America market is attributed for a sizable amount of contribution toward the growth of the global dental software market. As there is a substantial number of patients rising from the wide geriatric population base, North America is expected to gain more demand for dental software. Besides this, the complexity of ICD-10 guidelines requires coding assistance, which has increased the adoption of dental practice management software for the uninterrupted operation of revenue cycle.
Europe is anticipated to be poised for an impressive share in the global dental software market on the back of revenue contributions by countries such as Spain, Italy, France, the U.K., and Germany.
Asia Pacific is envisaged to leverage its significant CAGR gains for securing its foothold in the global dental software market. Some of the prominent drivers of the Asia Pacific market could be the fragmented nature of the market and elevating shortage of labor. Moreover, the market is looking to fulfill the demand for better healthcare quality by aggressively adopting healthcare IT solutions. While India and China are still looked upon as emerging avenues, Australia, South Korea, Japan, and Singapore have been at the vanguard of technology adoption.
Giant players in the global dental software market are taking to acquisitions and mergers for cementing their position in the industry. Henry Schein, for instance, had made an agreement with Dental Cremer S.A. in 2016 to expand into the distribution of supplies and equipment in Brazil. Henry Schein Dental, Dexis, ACE Dental, Denti Max, ABELDent Inc., Sirona Dental Systems, Clear Dent, Carestream Health, Inc., and Open Dental are some of the dominating companies in the global market. The industrial players are looking to stretch their presence in the market by also coming up with different innovative technological solutions.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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