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Albany, New York, July 10, 2019 (GLOBE NEWSWIRE) -- Trend of Tele-orthodontics Propels Dental Practice Management Software Market Growth
The emerging trend of tele-orthodontics especially in the developed countries owing to litigation between SmileDirectClub and the American Dental Association is augmenting need for the improved communication software.
Additionally, these players are increasingly looking to expand their business areas to developing countries and mainly in the remote areas, which is creating need for improved data handling solutions. These factors are estimated to offer some of the growth opportunities for key players in dental practice management software market in coming years. The market stood at US$1.6 bn in 2016, TMR estimated. Thanks to these factors, the dental practice management software market is estimated to reach a value of US$4.3 bn by the end of 2025.
Regionally, the North America is dominating the global dental practice management software market as the rapidly increasing geriatric population, increasing group dental practices, and high adoption of digital platforms. However, the Asia Pacific region is fastest growing region in the dental practice management software market owing to rising awareness coupled with robust governmental initiatives by developing countries such as China and Japan.
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Rising Governmental Support Boosts Dental Practice Management Software Market Growth
Furthermore, the world health organization and the Global Burden of Disease Study conducted in the year 2016 has estimated that oral diseases have affected half of the world’s population which is nearly 3.58 billion people. These diseases are assessed as Years Lived with Disability (YLD) even in some high-income countries. In addition, dental treatment is costly, which is more than average of 5% of the total health expenditure especially in the high-income countries.
Owing to these all factors, the load on the dental service provider is increasing. Thus, the Health Information Technology for Economic and Clinical Health Act (HITEC) is adopted across several nations. This law promotes the adoption of health information technology in the U.S. Under this act, the healthcare delivery and quality of services offered to patients is observed and ensured. In order to maintain proper information, the dental practice management software are adopted, which is benefiting growth of the market.
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The competitive landscape of the dental practice management software market is estimated to be competitive and strong presence of several key players is leading to increase competition level in coming years. However, the companies such as Patterson Companies, Inc., Web.com Group, Inc., Henry Schein, Inc., DentiMax, LLC, MOGO, Inc., and Planet DDS, Inc. are accounting for leading share in the overall revenue of the global dental practice management software market.
Continuous product improvement coupled with initiatives such as awareness programs, digital radiographs, patient education, and implication of the intra-oral cameras with software are some of the things helping these players to account for leading share in the market.
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Additionally, the key players are looking to evolve product in terms of features and technology. In order to achieve this, the players are entering in to collaborations, partnerships, and merger and acquisitions. Further, through these strategies, the new players are entering in to the market as well as exsting players are widening their business areas. For instance, recently in 2019, iCoreConnect Inc., announced its acquisition of ClariCare Inc.
iCoreConnect Inc.is a cloud-based software company offering technologies and provider of secure communication across the healthcare practices while ClariCare has a cloud-based dental offices software which optimize and manage the data generated at dental centers. Through this acquisition, both the companies will exchange their technologies to strengthen their product portfolio and software features. These kind of strategic partnerships are estimated introduce newer products and to propel market growth in coming future.
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This information is encompassed in the report by TMR, titled, “Dental Practice Management Software Market (Deployment Mode - On Premise, Cloud Based; Application - Patient Management and Billing, Clinical; End use - Dental Clinics, Hospitals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
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