Selbyville, Delaware, July 26, 2021 (GLOBE NEWSWIRE) —
The dental practice management software market size is anticipated to record a valuation of USD 3.4 billion by 2027, according to the most recent study by Global Market Insights Inc. Rising burden of oral diseases is projected to have a positive impact on the dental industry. WHO estimates that oral diseases affect approximately 3.5 billion people worldwide, which has enabled patients to turn to dental treatment solutions that are relatively low in cost and are highly effective. This has indeed urged dentists and specialty professionals to adopt dental practice management software which not only augments the productivity of these professionals but also turns out to be a viable solution for the billion-dollar dental industry.
Dental practice management software is known to streamline operations, maintain accurate records, keep track of inventory, offer important reminders, while simultaneously providing access to an online marketplace. Meanwhile, the software is also expected to enhance the cost-effectiveness of dental care services.
The dental practice management software market growth is expected to come from the intensifying prominence of the below-mentioned trends:
Rising popularity of patient communication software
The demand for patient communication software is gradually rising across the dental industry as it helps in running daily repetitive activities like appointment reminders, automated tasks, and several other communication actions with patients. Meanwhile, the software also promotes patient satisfaction while helping dentists and other professionals to gather better online reviews and referrals.
Besides, the launch of advanced practice management solutions and software by various industry players is expected to further stimulate the product demand. For instance, Henry Schein lately announced collaborating with Bola Technologies to initiate the launch of Bola AI’s Voice Perio. The product is aimed to merge Dentrix and Dentrix Ascend practice management solutions.
Owing to such developments in the business space, the patient communications segment across dental practice management software market is slated to generate huge profits through 2027. Reportedly, in 2020, the segment held a revenue share of USD 244 million.
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Novel developments by industry conglomerates
Dental practice management software market players are taking up strategic initiatives to augment their stance in the overall business space, while also boosting the chances of upgrading the market position of dental practice management software in the overall health and dental industry. Speaking of one such move; it would be important to mention CareCredit. In 2020, the patient financing provider endorsed by ADA Member Advantage, CareCredit, announced integrating its offering into Open Dental practice management software. As per credible reports, the new integration was designed to help dental practice teams to better provide patients with a financing option.
Elevating inclination towards on-premise dental practice software
On-premise segment is gaining grounds in the overall dental practice management software market. Rising concerns pertaining to data theft and data privacy related to outsourced data storage. On-premise model is considered to be highly cost-effective than its counterparts, as it offers more control and authority over the users’ data. On-premise dental practice software is installed on specific premises of the local servers.
In light of the escalating model prominence, on-premise dental practice software is set to depict a growth rate of 10.2% through 2027, just to account for USD 771 million over the forecast timeframe.
Elevating oral ailments and dental surgeries in Brazil
With 62.9% of children under 12 years of age, and 50.9% of adolescents struggling with periodontal health in Brazil, the Latin America region is estimated to take over a considerable share in the overall dental practice management software market. Reports suggest that the regional market is anticipated to reach USD 99 million by 2027.
Various government organizations are coming up with innumerable initiatives that promote the need for proper oral health, thus escalating the demand for dental practice management software. To illustrate, the National Oral Health Policy was launched to lay emphasis on the benefits of maintaining proper dental health.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.