Dental Practice Management Software Market to Expand at a CAGR of 10.1% From 2023-2031, says Growth Plus Reports

Newark, New Castle, USA, March 29, 2023 (GLOBE NEWSWIRE) -- According to the recent study by Growth Plus Reports, the Global Dental Practice Management Software Market was valued at US$ 2.4 billion in 2022 and is expected to register a revenue CAGR of 10.1% to reach US$ 5.7 billion by 2031 during the forecast period from 2023 to 2031. The study discusses the most effective tactics, market trends, major drivers and opportunities, the competitive landscape, market size, statistical statistics, and revenue.

Key Takeaways:

• Awareness of oral healthcare and rising oral diseases are driving market revenue growth.
• Latest technical advancements like digital solutions to streamline operations are increasing market demand.
• The growing investment and government initiatives are creating a range of software options.

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Market Drivers:
The significant market revenue in dental practice management software is due to oral healthcare awareness, advanced dental technology, and the rising incidence of oral disease. Moreover, various digital tools and capabilities, ranging from appointment scheduling and patient records administration to billing and insurance management, are driving the expansion of the dental practice management software market revenue. Cloud-based solutions are more adaptable, scalable, and cost-effective than traditional systems, making them an appealing option for practices looking to update their operations. However, the initial cost of deploying dental practice management software, lack of standardization, and privacy concerns impede market revenue growth. 

Market Segmentation:
Growth plus reports have analyzed the global dental practice management software market from deployment, application, end-user, and region perspectives. 

Deployment Segmentation: 
Based on deployment, the global dental practice management software market has been segmented into on-premises and cloud-based. 

The on-premises segment accounts for the largest revenue share in the global market. The large revenue share can be attributed to customizability, available storage space, and improved security. 
The cloud-based segment is expected to grow significantly during the forecast period. This rise in revenue share is attributed to its convenience and cost-effectiveness. 

Application Segmentation: 
Based on the application, the global dental practice management software market is segmented into patient communication, invoice/billing, payment processing, insurance management, etc.

The patient communication segment dominated the market with the largest revenue share. The large revenue share can be attributed to features such as patient portals for scheduling and communication, appointment reminders, messaging, chat systems, and automated communication campaigns. 

The insurance management segment is expected to rise significantly during the forecast period due to software tools helping in billing and insurance claims.

End-User Segmentation: 
Based on the end-users, the global dental practice management software market is segmented into dental clinics and hospitals. 

The dental clinic segment accounts for the largest revenue share in the dental practice management software market, owing to being the primary source to visit for any dental problem and being more efficient in seeing patients than large hospitals. 

Regional Growth Dynamics:
Based on region, the global dental practice management software market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. 

North America dominates the global dental practice management software market with the largest revenue share. This large revenue share is attributed to the rising awareness of oral health, the presence of key market players, partnerships, mergers, and acquisitions to develop new and innovative software.

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Competitive Landscape:
The prominent players operating in the global dental practice management software market are:

• MOGO Inc.
• Carestream Dental LLC.
• ACE Dental
• Henry Schein Inc.
• Practice-Web, Inc.
• ADSTRA Systems Inc. 
• ABELDent Inc. 
• Curve Dental (CD Nevco, LLC)
• Datacon Dental Systems, Inc.
• NXGN Management, LLC.
• Open Dental Software

The global dental practice management software market is relatively competitive due to new product releases, mergers, and acquisitions. Furthermore, the market recognized partnerships, assets, and various other types of collaboration as robust growth strategies, increasing the likelihood of revenue growth in the future.

Recent Developments:

• In March 2023, KronosMD, INC., a Kronos Advanced Technologies, Inc. unit, announced the purchase of existing and future assets and intellectual property associated with its planned breakthrough 3D ultrasound dental imaging and diagnostic instruments.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
   3. Regulatory Landscape
   4. Reimbursements
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL DENTAL PRACTICE MANAGEMENT SOFTWARE MARKET - ANALYSIS & FORECAST, BY DEPLOYMENT
   1. On-premises
   2. Cloud-based
6. GLOBAL DENTAL PRACTICE MANAGEMENT SOFTWARE MARKET - ANALYSIS & FORECAST, BY APPLICATION
   1. Patient Communication
   2. Invoice/Billing
   3. Payment Processing
   4. Insurance Management
   5. Others

Dental Practice Management Software Market TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• 'Business Profile' of Key Players

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