Asia Pacific Dental Practice Management Software Market to Enjoy High Growth to 2024

Graphical Research  |

As per the latest report by Graphical Research titled, "Asia Pacific Dental Practice Management Software (DPMS) Market to hit $484.0mn by 2024," increasing awareness and emphasis on importance of oral health in Asia Pacific countries will stimulate the market growth. Numerous initiatives are being undertaken to encourage oral check-ups. For instance, World Oral Health Day (WOHD) is observed in Asia Pacific countries in the month of March, wherein several countries including Malaysia and Australia undertake awareness campaigns. Such campaigns will spur adoption of DPMS over the forecast period.

Rapid adoption of technological advanced software solutions will increase market size in foreseeable future. Advancements such as cloud-based software that allows ease of operation and reduces costs will propel its usage among dentists. The expanded use of digital CAD-CAM for dental prosthetics are some of the technological advancements will accelerate Asia Pacific market growth.

Lack of healthcare IT professionals owing to migration of experts to foreign nations may hamper business growth in Asia Pacific.

Scheduling module segment accounted for largest market size of USD 38.3 million in 2017. Scheduling is indispensable component of the software as it allows dentists to schedule appointments with patients. Rising demand for this component in DPMS will further aid segmental growth in forthcoming years.

Cloud-based delivery mode segment will show fastest grow at 16.6% CAGR over the forecast timeframe owing to its cost-effectiveness. Cloud-based software is subscription based, allowing dental practitioners to pay monthly or annual fees. Moreover, it prevents data theft and offers multiple location access. These aforementioned benefits will boost segmental share in the near term.

The Australia dental practice management software market will witness 3.3% CAGR. This growth is attributable to increasing government funding coupled with expanding dental care. For instance, the Royal Flying Doctor Service (RFDS) in Australia is estimated to improve the reach of dental services in remote areas. Similarly, the Australian government aims to improve and increase Medicare policies. In addition, technologically advanced products such as Praktika, offering portable DPMS, will favor regional growth.

Some of the established industry players in the Asia Pacific dental practice management software market are Carestream Dental, Curve Dental, Henry Schein  (HSIC) and Allscripts Solutions MDRX. Firms are adopting partnerships and collaborations for expanding market reach and customer base. For instance, in April 2017, Allscripts and Concentra expanded their collaboration to include the Allscripts Practice Management Software in its product portfolio. This software will enable to improve efficiency, productivity and result into better quality of care to patients, thus increasing company profits.

DISCLOSURE: Graphical Research reports have been constructed taking into consideration each regional market as an independent industry, since each country-level industry is governed by a different set of dynamics, consumer behavior and regulatory landscape. In addition to a high degree of accuracy, this approach also enables us to better analyze the industry scenario and offer targeted business intelligence.


The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
HSIC Henry Schein Inc. 59.80 -1.42 -2.32 1,159,206 Trade
MDRX Allscripts Healthcare Solutions Inc. 9.90 -0.64 -6.07 3,080,613 Trade

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