The global
Dental Practice Management Software Market is expected to
grow at a rate of 10% by 2026. Growing cases of oral
diseases and dental disorders, the rising geriatric population, an increasing
awareness on the importance of oral health, and rising government support for
the adoption of Electronic Dental Records(EDRs) are some of the key factors driving
the dental practice management software market growth.
Dental practice management software is a class of
software solution that helps dentists and healthcare professionals to supervise
their day-to-day activities/operations. Key features of the software are online
appointment bookings, accounting & report generation, e-billing, insurance
claiming, periodontal charting, treatment planning, patient charting,
e-prescription facilities & dental imaging, and patient communication. The
software can also be integrated with X-ray sensors, intraoral cameras, imaging
equipment, and other dentistry devices to keep patient records electronically.
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Integration of Digital Imaging with Dental Practice
Management Software Drives the Dental Practice Management Software Market
Growth
With the introduction of digital radiography and software
solutions, the trend of integrating digital imaging capabilities with dental
practice management software is gaining popularity. The dental practice
management software when integrated with digital imaging helps dentists to
create x-ray images of gums, teeth, and study patients' dental conditions using
digital X-rays, and simultaneously perform treatment planning.
The software also helps to reduce the X-ray exposure time by
more than 70%, make an immediate diagnosis, and easily help in making treatment
plans. For instance, DentiMax provides dental practice management software that
can be integrated with digital X-ray sensors for getting 3D images of teeth.
Shift towards Cloud-based Dental Practice
Management Software
Today’s dental practice is moving toward digital
integration. The cloud-based software model is expected to grow significantly
in the coming years due to its flexibility, affordability, efficiency,
security, scalability, user-friendly features, and automatic software updates.
Also, browser-based cloud software can be used across multiple locations and
platforms, including smartphones, tablets, desktops, windows, android, and
apple products, among others.
“Cloud offers a flexible, scalable environment at a
lower cost than on-premise deployments but still a majority of dental practice
management software solutions are currently implemented on-premise due to
security, control, and privacy reasons. However, the trend is shifting towards
hybrid cloud-based software solutions.” - Executive Chairman
& Chief Strategy Officer, Dental Practice Management Software Company, US
Key Challenges/Constraints: Dental Practice Management
Software Market
Many dental experts have concerns about the adoption of new
technology as they lack knowledge about digital solutions in the dentistry
field. The price of advanced digital solutions such as scanning and milling
devices has been too high and utilization levels are too uncertain to pay off
for most individual practice owners. These factors are likely to hamper the
dental practice management software market growth.
North America Leads the Adoption of Global Dental
Practice Management Software Market
North America commanded the largest share of the dental
practice management software market, followed by Europe and APAC. The large
share of North America can be attributed to the increased adoption of digital
solutions within dental practices, new regulatory standards, technological
advancements in dental practices, increasing funding for start-ups to support
the development of new dental software, and the presence of key market players
like Henry Schein Inc. and Curve Dental Inc. in the region. However, APAC is
expected to witness strong growth in the coming years, due to growing awareness
about the importance of digital solutions in dentistry and growing investments
in healthcare IT companies in this region.
Competitive Landscape Analysis: Dental Practice
Management Software Market
Some of the key players operating in the global dental
practice management software market are Carestream Dental, Patterson Companies
Inc., Henry Schein Inc., Curve Dental, Inc., Dentimax, Practice-Web, Inc.,
Nextgen Healthcare, Ace Dental Software, Dentiflow, Datacon Dental Systems,
Planet DDS Inc., Open Dental Software Inc., ABELSoft Inc., Allscripts
Healthcare Solutions, and Dovetail Dental Software.
Companies Adopting Inorganic Growth Strategies to
Increase their Market Share in Dental Practice Management Software Market
Players operating in this market are adopting both organic
and inorganic growth strategies such as collaborations, acquisitions, and
introducing new software products/features to garner market share.
For instance,
- In
February 2022, Carestream Dental announced the
introduction of new features in Sensi Cloud, a Carestream Dental’s
Software-as-a-Service (SaaS) to help dentists elevate their practices and
provide better, more efficient patient care.
- In
June 2021, Planet DDS announced the launch of its
internal & external referral management tools within Denticon, its
flagship practice management solution which will allow dentists to
seamlessly track and manage referrals within a group or with external
providers.
- In
June 2021, Curve Dental announced its partnership
with Dental Intelligence. This partnership will help Curve Dental to gain
access to LocalMed, Dental Intelligence’s online scheduling solution which
will enhance the productivity of dentists by allowing patients to book their
appointments digitally.
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Growing Interest of Private Equity Firms in Dental
Practice Management Software Market
Citing the lucrative growth opportunities in the dental
practice management software market, private equity firms are also making
investments in potentially high-growth areas/companies in this space.
For instance,
- In
August 2021, Tab32 announced the closing of Series
B round funding led by Spark Growth Ventures. The new capital will help
tab32 to accelerate dental CloudTech transformation, double its headcount
across its offices in the United States and India, and invest in R&D
to optimize and build out its AI infrastructure for dental intelligence.
- In
April 2021, CareStack secured $22.5 million from
Steadview Capital & Others. The fund raised will be used to expand
operations, double its workforce and grow annual revenue by four times.
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research
& insights firm. Our clients include Fortune 500 companies, blue-chip
investors & hyper-growth start-ups. We have completed 100+ projects in
Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma
Services in the areas of market assessments, due diligence, competitive
intelligence, market sizing and forecasting, pricing analysis &
go-to-market strategy. Our methodology includes rigorous secondary research combined
with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply
side decision-makers.
Contact:
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
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