Global Dental Practice Management Software Market to Reach $2.7 Billion by 2026
Jul 14, 2021, 11:05 ET
SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Dental Practice Management Software - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: June 2021
Executive Pool: 403
Companies: 169 - Players covered include Allscripts Healthcare Solutions; Athenahealth; Carestream Dental; Compudent Systems Inc.; Curve Dental; Datacon Dental Systems; DentiMax; Dovetail Dental Software; Envista Holdings; Epic Systems Corporation; Henry Schein, Inc.; NextGen Healthcare Information Systems, LLC.; Patterson Dental Supply, Inc.; Practice Web and Others.
Coverage: All major geographies and key segments
Segments: Deployment (Web-based, Cloud-based, On-Premise); Application (Scheduling & Patient Communication, Invoice/Billing, Payment Processing, Insurance Management, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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Global Dental Practice Management Software Market to Reach $2.7 Billion by 2026
The dental practice management software is a clinical and administrative aid that helps practice management staff and dentists in smooth and efficient services. The software offers a number of functionalities including e-billing, accounting, insurance claiming, report generation, and online appointment bookings. Dental practice software platforms also possess clinical features such as treatment strategizing, mapping patients, making dental charts, generating dental imagery, and filling prescriptions among others. Growth in the global market is being driven by increasing awareness of dental health and ensuing demand for a range of dental care services. Modern lifestyles such as alcohol consumption, and tobacco usage are also causing more dental issues, leading to a larger patient pool in need of oral care services. The world's rapidly aging population and the growing need for dental care in this demographic segment are driving opportunities for dental practices. The rise in cosmetic dentistry and increase in dental tourism practices in emerging nations is also expected to promote growth prospects.
Amid the COVID-19 crisis, the global market for Dental Practice Management Software estimated at US$1.7 Billion in the year 2020, is projected to reach a revised size of US$2.7 Billion by 2026, growing at a CAGR of 8.2% over the analysis period. Web-based, one of the segments analyzed in the report, is projected to grow at a 7.5% CAGR to reach US$1.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cloud-Based segment is readjusted to a revised 9.5% CAGR for the next 7-year period. This segment currently accounts for a 36.9% share of the global Dental Practice Management Software market. Web-based deployment accounts for a major share of the global market, due to the enhanced security and greater storage capacity associated with the model. Besides, universal access to patient database, reasonable price and provision of instant software updates are driving web deployment model. Cloud based segment is witnessing growth owing to increasing availability of dental management practice software offered as SaaS (Software as a service) that eliminates the demand for storing patient data on paper besides facilitating the access to data remotely for clinicians.
The U.S. Market is Estimated at $642.8 Million in 2021, While China is Forecast to Reach $271.3 Million by 2026
The Dental Practice Management Software market in the U.S. is estimated at US$642.8 Million in the year 2021. The country currently accounts for a 36.26% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$271.3 Million in the year 2026 trailing a CAGR of 10.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 7.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.9% CAGR while Rest of European market (as defined in the study) will reach US$301.2 Million by the end of the analysis period. North America and Europe represent key markets, driven by high spending on digital healthcare implementations, rapid adoption of new technology platforms for dental practice management, and government initiatives to promote the adoption of digital healthcare. Asia-Pacific countries, powered by the growing demand for dental services in Japan, China, and India are expected to provide robust growth opportunities.
On-Premise Segment to Reach $432.6 Million by 2026
Though cloud based software solutions have been found to offer greater flexibility in the form of remote management, data storage and integration possibilities, on-premise solutions continue to find acceptance due to security implications related to cloud solutions. In the global On-Premise segment, USA, Canada, Japan, China and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$211.4 Million in the year 2020 will reach a projected size of US$337.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$38 Million by the year 2026. More
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