Northbrook, IL 60062 -- (SBWIRE) -- 10/04/2023 -- The report "Dental Practice Management Software Market by Deployment Mode (Cloud-based, Web-based), Application (Patient Communication, Insurance Management, Billing/Invoice), End User (Dental Clinics, Hospitals, DSO, Academic Institutes) - Global Forecast to 2028", is projected to reach 2.3 billion in 2028 from USD 1.5 billion in 2023, at a CAGR of 8.6% between 2023 and 2028. The overall growth of the Dental PMS market is because of the rising in demand for cosmetic procedures and the technological advancements in dentistry, which in turn, increase the footfall at dental practices. This leads to increased demand for dental PMS.

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Key Market Players:

Key players in the Dental practice management software market include Patterson Companies, Inc. (US), Henry Schein, Inc. (US), Carestream Dental LLC (US), and Open Dental Software Inc.(US)

Driver: Rising demand for advanced cosmetic dental procedures

Cosmetic dentistry is one of the fastest-growing segments in the dental industry. With increasing disposable incomes, the willingness to undergo expensive cosmetic procedures has increased, specifically among the aging population. While the demand for tooth whitening procedures has grown significantly, veneers, non-metallic inlays and onlays, dental crowns, and bonding agents are the most preferred cosmetic products.

Restraint: Data privacy and security issues

Electronic information exchange ensures quality care. However, it also raises the biggest challenge regarding the security of data. According to a survey from Software Advice, 90% of small-to-medium-sized dental practices utilize dental practice management software to manage patient data, billing, and insurance claims. Federal legislation such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health (HITECH) Act are working to tackle the issue of data security. These security breaches and concerns over data privacy are expected to act as a restraint for the market.

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"During the forecast period, the cloud-based segment is expected to be the fastest growing segment of the Dental PMS market."

Based on deployment mode, the dental PMS market is segmented into cloud-based, web-based and on-premise software. The cloud based segment is forecasted to grow at the highest CAGR during the forecast period. The primary driver of this market is flexible, scalable, and affordable nature of cloud-based technology. Additionally, advantages such as remote access, low upront costs, and data security also contribute to the high growth of the segment.

"In 2022, by end user, dental clinics segment held the largest share of Dental PMS market."

By end user, the Dental PMS market can be segmented into hospitals, dental clinics and other end users.

Due to the rising awareness of dental disorders and their treatment, and the rising footfall in dental clinics in developing countries due to increased dental tourism, the dental clinics segment occupied the largest share of the market in 2022. The other end users segment is exected to grow at the highest CAGR during the forecast period. The growth of this segment, which is mainly due to DSOs, can be chalked down to increasing private equity funding for DSOs, and benefits of economies of scale offered by DSOs, among other factors.

"In 2022, Asia Pacific is expected to be the fastest growing segment in the Dental PMS market during the forecast period"

Based on region, the dental PMS market is segmented into five major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa.

Asia Pacific is expected to be the region with the highest CAGR from 2023 to 2028. This can be attributed to the rising dental tourism, rising disposable incomes, increasing awareness about new technologies, increasing prevalence of dental disorders, and rising need for quality dental care in the developing countries of the region.

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