Cloud-based DPSM market to witness the highest growth over 2016-2023: Growing trend of integrated care services to drive demand
The growing trend of digitization has encompassed the oral healthcare industry as well, unfolding a wide set of opportunities for the Dental Practice Software Management Market globally. As per a report by Global Market Insights Inc., the global dental practice software management market is anticipated to surpass USD 2 billion by 2023. The increasing geriatric population plays a major role in driving the market revenue. Surgeon General of the United States reported that approximately 25% of the people aged between 65-75 years suffer from severe periodontal ailments. Thus, the urge to serve the large patient pool efficiently calls for advanced technological adoptions by the dentists, in turn boosting the dental practice software management industry.
The Asia Pacific DPSM market is estimated to witness a lucrative growth over the coming years with a CAGR estimation of 13.2% over 2016-2023. India, which has attained the label of ‘ageing nation’ coupled with China and Japan will contribute towards majority of the APAC market share. The regional growth can also be attributed to the rising expansion of healthcare IT solutions, demand for better medical facilities, labor scarcity, and rising health awareness amongst the population.
U.S. Dental Practice Management Software Market share, by delivery mode, 2012 – 2023 (USD Million)
Moreover, the market is also gaining significance due to the rising demand to curtail the global healthcare expenditure burden. As per the estimates, the annual dental treatment expenditure accounts for approximately 4.6% of the overall healthcare industry. Dentists worldwide are adopting the software management tools to efficiently handle their patient base, thereby maximizing their productivity. The government is also supporting the deployment of these software tools to improve the oral healthcare access, maximize productivity, and cut down the administrative burdens.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/463
The rising awareness pertaining to the oral health brings immense growth opportunities for the software vendors. For instance, the scheduling module, an important component of the DPSM market, held the largest share with a revenue of USD 175 million in 2015. The component is in huge demand from the practitioners to align their checkups, thus enabling optimum utilization of the resources. Another common yet important component is the Invoice/billing module, which is estimated to witness a CAGR of 11.2% over the period of 2016-2023.
The deployment of DPSM is mainly done by three methods- Web-based, On-premise, Cloud-based. The development in Healthcare IT will drive the growth of the cloud based deployment model. The rising trend of patient centricity is boosting the demand for cloud based DPSM model where the patient data can be tracked irrespective of their locations. In addition, this model also curtails the IT investments and is witnessing huge adoption by the practitioners globally. Cloud based DPSM market share is estimated to record a CAGR of 14.3% over 2016-2023.
The surging demand for patient-centric solutions in North America is promoting the regional DPSM share. Moreover, the government support across this region coupled with the adoption of innovative healthcare technology solutions is likely to favor the industry growth. North America Dental Practice Software Management market is forecast to exceed a revenue of USD 410 million by 2023.
The expanding healthcare IT industry will positively impact Dental practice software management market. The industry is aiming towards implementing integrated, cost-effective, and patient-centric models rather than going for the traditional standalone practice concepts. The market is highly fragmented and will likely witness joint ventures and collaborations to bring technologically advanced solutions to the board. Key industry players currently sharing the DPSM business space are Henry Schein, Patterson Dental, Dentrix, Curve Dental, Carestream Health, Dovetail, DentiMax LLC, Quality Systems, Allscripts, Datacon Dental Systems, and Epic Systems.
Author Name : Shikha Sinha