Dental Practice Management Software Market Insights
Dental practice management software market size was valued at USD 2.30 billion in 2022. The dental practice management software market industry is projected to grow from USD 2.53 Billion in 2023 to USD 4.90 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.40 % during the forecast period (2023 - 2030).
Dental Practice Management Software Market: Latest News On Technological Developments
- In order to develop a digital workflow for dental practices, Henry Schein acquired Biotech Dental SAS. In April 2023, Henry Schein, a well-known supplier of healthcare solutions, declared that he had purchased the French dental software firm Biotech Dental SAS. With the acquisition, Henry Schein will be able to provide dental practices with a more complete digital workflow that includes patient scheduling, invoicing, and insurance claim processing.
- Curve Dental and Pearl Inc. combine their technologies to offer capabilities for second opinion disease detection. In November 2022, Curve Dental, a provider of cloud-based dental practice management software, and Pearl Inc., a supplier of second-opinion disease diagnosis software, announced the integration of respective programs. Users of Curve Dental will have access to Pearl's second-opinion illness detection capabilities through this connection, which can help to increase the precision of diagnoses and treatment recommendations.
- CloudPlus is a hardware solution offered by Wysdom Dental that ensures the continued operation of cloud-based dental practice administration software. In January 2023, CloudPlus was released by Wysdom Dental, a provider of cloud-based dental practice administration software. In the event of an internet outage, CloudPlus is a hardware solution that ensures the continued operation of cloud-based dental practice management software.
Dental Practice Management Software Market: Recent News On Industry Investments
- $100 million is invested in Curve Dental by Henry Schein. Henry Schein, a well-known supplier of healthcare solutions, revealed in April 2023 that he had invested $100 million in Curve Dental, a developer of cloud-based dental practice management software. With the investment, Curve Dental will be able to extend its product line and access new markets.
- DentalClaims360 receives $500 million from Vista Equity Partners. Vista Equity Partners, a private equity company, declared in March 2023 that it had invested $500 million in DentalClaims360, a business that processes dental insurance claims. DentalClaims360 will be able to reach new markets and extend its product line thanks to the investment.
- $30 million is invested in DentiMax by Accel Partners. Venture capital firm Accel Partners announced in February 2023 that it had invested $30 million in DentiMax, a provider of cloud-based dental practice administration software. DentiMax will be able to reach new markets and diversify its product line thanks to the financing.
Dental practice management software is an increasingly important part of dental practice administration and is also a clinical tool which is highly advantageous to the management of dental clinics and hospitals. Market Research Future's extensive study of the global dental practice management software market has revealed that the market is likely to witness considerable growth over the upcoming forecast period.
Focus on oral health has been growing significantly, particularly in countries with widespread urbanization. Increasing awareness of oral health problems in developed markets of the global dental practice management software (DPMS) market has increased the number of dental patients seeking treatment and diagnosis of oral problems, thus indirectly encouraging the demand for dental practice management software. Due to the rapid increase in data and information being processed by dental practices has increased the need for management software. Furthermore, dental practice management software offers several advantages which contribute significantly to the growth of the DPMS market. Operational efficiency is among the key factors driving the market. Dental practice management software has capabilities to efficiently manage clinical efficiency, patient management, collection and billing, integration with other platforms and others. Expanding healthcare activities have increased the pressure on healthcare organizations to provide quality healthcare while reducing expenses and increasing operational efficiency, to this end DPMS features are highly effective, thus increasing their adoption.
Overall improvement in healthcare delivery and the ability of DPMS to allow dental care clinics and hospitals to focus on the core activity of providing better quality of medical care to patients has increased the use of such software thus driving the market. The innovation of IT technology and the use of cloud for deployment has made dental practice management software accessible for dental organizations of various sizes and is expected to lead to further opportunities due to imminent advancements in software technology.
Market Segmentation
MRFR's segmentation of the global dental practice management market has been performed on the basis of deployment, application, end-user, and region. Deployment of DPMS can be on the cloud, on-premises, or web-based. Dental practice management software has applications in charting, patient management, insurance management, invoicing/ medical billing and others. This software is deployed primarily in dental clinics, hospitals, and others.
Regional analysis of the market has segmented the global market into North America, Europe, Asia Pacific, and the Rest of the World.
Regional Analysis
North America and Europe are significant regions in the market due to the fact that they have a high concentration of developed economies. Country-level markets such as the US, Germany, France, and the UK are among those with an increasing focus on oral health. The presence of well established healthcare sectors in these regions combined with increasing importance being placed on providing patients with quality healthcare while working toward increasing operational efficiency is another important factor which is likely to drive the North American and European market.
Meanwhile, the Asia Pacific is growing rapidly due to the presence of a large patient population and the rapidly changing healthcare sector present in the region. The many emerging economies in the APAC are increasing healthcare expenditure in an effort to update the existing infrastructure so as to provide more advanced healthcare options. Investments in oral health care in the APAC are growing and improving economic conditions in countries such as India, China. South Korea and Indonesia have increased the demand for DPMS.
Key Players
Market players that have been profiled in the report include prominent organizations that are participating in the market and employ growth strategies which influence market growth and opportunity. The dental practice management software market players include Curve Dental, Practice Web, Henry Schein, NextGen Healthcare Information Systems, LLC., Carestream Dental, DentiMax, Patterson Dental, Allscripts Healthcare Solutions, and Dovetail Dental Software.
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