Top 3 major trends accelerating North America dental practice management software market growth

The North America dental practice management software (DPMS) market is anticipated to record prominent growth over the ensuing years on account of the burgeoning geriatric population across the region. In recent years, there has been a major increase in the elderly population across North America. In fact, as per UN (United Nation) estimates, the geriatric population in the region is expected to reach 104.8 million by 2030.

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This demographic is usually prone to several dental disorders primarily due to the aging factor. This has led to an increase in the demand for dental treatments, predominantly creating lucrative growth opportunities for the North America dental practice management software market over the forecast period.

On this note, studies suggest that the North America dental practice management software market is poised to exceed USD 1 billion by 2024.

3 key trends likely to boost the North America dental practice management software market trends:

Increasing demand for web-based DPMS solutions

Web-based DPMS solutions have essentially gained popularity in recent years. In fact, the segment held around 41.2% of the total industry share in 2017 and is expected to grow at a significant CAGR over the ensuing years. These solutions have been witnessing increasing demand lately primarily due to their superior convenience and flexibility in data management.

Easy data accessibility globally has further increased the demand for web-based DPMS solutions. Such enhanced benefits have prompted dental practitioners to opt for web based DPMS solutions, thereby fueling the North America dental practice management software market growth. Meanwhile, the cloud-based delivery mode segment is expected to record a 14.2% CAGR over the ensuing years on account of the lower cost related to data management.

Technological advancements in the U.S

On the regional front, the U.S is expected to offer lucrative growth opportunities to the North America dental practice management software industry. In fact, the regional market accounted for USD 450.7 million in 2017. Technological advancements in the healthcare IT sector have further increased growth prospects for the regional DPMS market. In addition, the burgeoning demand for electronic medical records has increased the demand for DPMS solutions across the nation. Increasing adoption and availability of high-end technology coupled with burgeoning healthcare spending may further accelerate the U.S. DPMS market growth.

Growing partnerships among industry participants

While talking about industry participants, it is pivotal to mention that market has a strong presence of industry participants. These organizations are undertaking numerous inorganic and organic growth strategies like acquisitions, mergers, and joint ventures to tap major market share. Citing an instance to highlight the same, in April 2018, Henry Schein Inc. formed a joint venture named Henry Schein One.

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This joint venture has helped companies to offer integrated technology resulting to improve patient communication and practice management. Notably, companies such as Patterson Companies, Curve Dental, Henry Schein, and Carestream are currently at the forefront of the North America dental practice management software. Aided by initiatives like the aforementioned, it comes as no surprise that the North America dental practice management software market will witness lucrative growth over the forecast period.

Table of content:

Chapter 1.Methodology & Scope

  • Market scope & definitions
  • Assumptions
  • Research methodology

Chapter 3.Industry Insights

  • Industry segmentation
  • Industry ecosystem analysis
  • Industry impact forces
    • Growth drivers
    • Growth restraints
  • Regulatory overview
  • Porter’s analysis
  • PESTEL analysis
  • Competitive landscape, 2017

 

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