At 11.2% CAGR, North America DPMS Market to hit $1 bn by 2024: Carestream, Curve Dental, Henry Schein and Patterson Companies

Increasing government and venture capital funding is forecasted to positively impact North America DPMS industry growth in forthcoming years. Growing federal funding for workforce expansion and oral health services favors market expansion. This enhances quality of patient care along with experience. For instance, in June 2018, iDentalSoft announced about funding by FCA Venture Partners, that will help the firm in enhancing its financial performance. However, dearth of skilled IT professionals in Canada can hinder business growth in the upcoming years.

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According to the Graphical Research new growth forecast report titled “North America Dental Practice Management Software Market analysis based on Component, Delivery Mode, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 1 billion by 2024.

Growing geriatric population suffering from dental problems is set to drive the demand for dental procedures in forthcoming years. According to United Nations, in North America, geriatric population is forecasted to reach 104.8 million by 2030. Dentists are adopting advanced technologies that enable efficient treatment to cater to ever increasing burden of geriatric population in the region.

Patient communication component segment will grow at remarkable rate of 11.3% CAGR throughout the projected period. Easy and efficient patient communication makes the component preferable. Furthermore, features enabling the dentist to send e-mails, messages, setting reminders and accessing patient responses escalates the demand for patient communication component, thereby augmenting segmental share over the forecast period.

Cloud-based delivery mode segment will progress at 14.2% CAGR over the forecast period owing to lower cost associated with data management. Reduction in data theft risk makes it preferable for usage. Benefits including cost-effectiveness coupled with suitable accessibility at any location will impel segmental growth over the upcoming timeframe.

U.S. will drive North America DPMS market with revenue share of 87.7% in 2017. Canada DPMS market will witness significant growth at CAGR over 10%. Canadians are largely found to be suffering from oral disorders. According to the Canadian Health Measures Survey (CHMS) conducted by Statistics Canada, nearly three quarters of Canadian population visits dental clinics every year. The Canadian Oral Health Roundtable (COHR) also works to offer dental services to immigrants and Canadian citizens contributing to increasing demand and awareness. Rising adoption of DPMS in Canada will further boost market growth during the forecast timeframe.

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Major market firms operating in North America dental practice management software include Carestream, Curve Dental, Henry Schein and Patterson Companies. Prominent players are concentrating efforts on strategic initiatives such as partnerships and collaborations for market expansion and for enhancing customer reach. For instance, in February 2016, Curve Dental collaborated with Lighthouse 360, an automated patient communication system. This partnership will enable the integration of its software with Lighthouse 360, to provide better solutions to its clients.

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Segments We Cover:

North America Dental Practice Management Software Market, By Component
Scheduling
Patient Communication
Invoice/Billing
Payment Processing
Insurance Management
Dental Charting
Others

North America Dental Practice Management Software Market, By Delivery Mode
On-Premise
Web-based
Cloud-based

The above information is provided for the following region and countries:
U.S.
Canada

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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