Dental Practice Management Software Market to Reach Valuation of USD 3,396.3 Million by 2028 - Innovations and Advent of Novel Technologies in Dental Practice Management Software to Drive the Market Growth

Vantage Market Research

Jun 03, 2022

From the period of 2022 to 2028, the Global Dental Practice Management Software Market is expected to reach USD 3,396.3 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 9.8%.

According to the American Dental Association (ADA), older people enter the second round of cavity-prone years primarily as a result of dry mouth, which can be a side effect of medications for asthma, high blood pressure and cholesterol, pain, anxiety, Parkinson's, and Alzheimer's disease. Aa these medications are used by a large portion of the geriatric population; they are more prone to oral health problems. Demand for DPM software is expected to rise as a result. Due to supportive government policies and increased awareness about oral health, the number of independent practitioners has increased significantly. Since a large number of patients seeking oral care are either uninsured or have insurance plans that do not cover oral medical care, patients who visit independent practitioners frequently pay out of pocket.

The increasing number of dental clinics and hospitals, as well as strong government support for the adoption of Electronic Dental Records (EDRs), are the primary drivers of market growth. Furthermore, increased patient flow to dental clinics and hospitals has been attributed to the global population's high prevalence and incidence rates of dental caries, an increase in the number of cases of missing teeth, periodontal diseases, and prosthetic rehabilitation. Furthermore, technological advancements in the industry, as well as increased investments by corporations in emerging markets, are expected to drive the market.

Key Highlights from the Report

  • The market is divided into four applications: patient communication, invoice/billing, payment processing, insurance management, and others. The patient communication category accounted for the lion's share of the market. The segment is expected to grow as more people use enhanced services like text messaging for reminders, family reminders, and patient satisfaction surveys. This enables both simple and complex searches. It also allows patients to book appointments online, which is boosting the patient communication market. The insurance management segment is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. Improved reimbursement for oral services is a significant driver of category growth.

  • On the basis of Application, the market is segmented into Patient Communication, Invoice/Billing, Payment Processing, Insurance Management and Others. The patient communication category held the largest proportion of the market. The segment is predicted to grow due to increased acceptance of enhanced services such as text messaging for reminders, family reminders, and patient satisfaction surveys. This allows for both basic and complex searches. It also allows patients to make appointments online, which is helping the patient communication segment flourish. During the projected period, the insurance management segment is expected to develop at the quickest Compound Annual Growth Rate (CAGR). Improved reimbursement for oral services is a major driver of category expansion.

  • Asia Pacific is the fastest regional segment in terms of growth. Large investments in start-up businesses are expected to drive the regional market. Asia Pacific, on the other hand, is expected to have the fastest Compound Annual Growth Rate (CAGR) during the forecast period. Growing investments by healthcare IT companies in the region, as well as improved economic conditions and healthcare structure, are boosting market growth. During the forecast period, China is expected to grow significantly. This can be attributed to an aging population, increased spending on oral health care, and the rapid adoption of new technologies.

Market Dynamics:

New Technologies and Innovations in Dental Practice Management Software

The introduction of new technologies and innovations in dental practise management software is expected to accelerate market revenue growth. The scheduling segment in the dental practise management software market was valued for its numerous benefits, including the ability to automate appointment reminder and confirmation processes with e-mails and SMS for quick and efficient communication with patients. The scheduling module is one of the initial features in dental practise management software that allows dentists to efficiently schedule check-ups and appointments. To stand out in the crowded dental marketplace, dentists must operate efficiently and provide excellent customer service. Clients benefit from greater convenience and the ability to book appointments at any time when appointments are scheduled using dental practice management software.

Future of Dental Practice Management Software Market

The x-ray sensors are already a part of the medical infrastructure. Traditional medical infrastructures have been upgraded to current technologies in recent years in order to improve total medical treatment. With the introduction of digital radiography and software solutions, x-ray images of gums, teeth, and oral structures can now be created using x-ray sensors. As a result of these advancements in the medical industry, the dental practise management software market has expanded significantly.

North America now dominates the Dental Practice Management Software industry and is anticipated to do so for the next few years. The United States has the greatest market share in the North American area. Because of favorable government policies and growing knowledge about oral health, the number of independent practitioners has expanded dramatically in the United States and India. Because a huge majority of patients seeking oral care are either uninsured or have insurance policies that do not cover oral medical treatment, patients visiting independent practitioners frequently pay out of pocket because they are more affordable than large facilities.