The market research report titled “Australia Dental Services Market Outlook to 2022 – By Payer (Individual, Government, Private Health Insurance and Others), by Service (Restorative, Preventive & Diagnostic, Endodontic, Prosthodontics, Oral Surgery and Others), by Organized Dental Chains and Standalone Dental Clinics” provides a comprehensive analysis of the dental services market in Australia. The report covers aspects such as dental services market expenditure, its key segments including market segmentation by services, payer, organized and unorganized sector and by States. The publication also includes detailed analysis of major players in the sector and their respective market share. Furthermore, the report includes sections on trend and developments, SWOT analysis, Value Chain Analysis, Decision making parameters to choose a Dental Clinic and government regulations in Australia Dental Services market. The report also covers a snapshot on Dental Equipments and Consumables Market, Major Dental Insurance Providers in Australia and Dental Tourism Sector in Australia. Investment Model to set up a Dental Clinic in Australia has also been discussed in the report. Future analysis of the market with estimated projections has also been discussed along with analyst recommendations.
Australia Dental Services Market
The market for dental services in Australia grew steadily during the period FY’2012-FY’2017 at a CAGR of ~%. Major drivers of increased patient demand included general improvement in economic conditions, rising income and job security, incline in private health insurance funding and overall dental health and treatment awareness among Australian population. An increase in the number of Australian dentistry graduates over the last few years also fueled the market growth. Incline in dental visit by Australians driven by rise in general awareness for dental health and prevention and growing unhealthy food habits resulted in increased market revenues during the last few years. The number of dental practices in the country recorded steady growth at a CAGR of ~% during FY’2012-FY’2017 which augmented dental clinics visits in the concerned period. Per capita expenditure on dental care witnessed growth at a CAGR of ~% during the same period from AUD ~ in 2012 to AUD ~ by 2017.
Australia Dental Services Market Segmentation
By Organized and Unorganized: Majority of the dentists Australia operated through standalone clinics, with limited number of dental chains operating in the sector. As of FY’2017, the unorganized segment contributed about ~% market share to the total revenues of the dental services market. Large number of standalone clinics and comparatively lesser treatment cost were the major factors behind dominance of unorganized sector.
By Payer: Individual or out-of-pocket expenditure on dental services comprised for a large part of revenues for overall Australia dental services market in FY’2017. Majority of dental establishments in Australia are privately operated and private health insurance funds only partly covers for dental care treatment costs. Out-of-pocket expenditure accounted for ~% market share in FY’2017, in terms of revenue. Government expenditure, private health insurance funds and others comprised for ~%, ~% and ~% market share in FY’2017, respectively.
By Services: Most dental visits by Australians, post regular check-up, were for restoration services. The need for restorative dental treatment has increased due to large number of people willing to retain their natural teeth and a breakdown of restorations in existing filling and restorations. Increased spending on aesthetic appearance also aided in market growth of restorative services. As of FY’2017, restorative services comprised for ~% market share in the overall dental services market, in terms of revenue. Preventive and diagnostic services, Endodontics, Prosthodontics, Oral surgery and all other services comprised for market share of ~%, ~%, ~%, ~% and ~% respectively in FY’2017.
By States: Victoria and New South Wales are biggest market both in terms of revenue and supply of doctors, dental clinics. Victoria and New South Wales comprised for ~% and ~% market share in FY’2017, driven by presence of two most populated cities- Melbourne and Sydney in respective states. Queensland, Western Australia, South Australia, Australian Capital Territory, Tasmania and Northern Territory comprised for market share of ~%, ~%, ~%, ~%, ~% and ~% respectively in FY’2017.
The dental services market is highly fragmented with majority of providers operating from small scale single locations, although corporate activity in the sector is increasing. The market is in mid-late growth stage, recording low single digit growth year-on-year. However, organized dental clinics have grown at a health rate in the last decade by expanding their clinics network through acquisitions or organic growth.
Bupa Dental Corporation is the largest dental chain operating in the country with around ~ establishments and comprised for around ~% market share in the organized dental care market in FY’2017, in terms of revenue. Maven Dental Group, Pacific Smiles and National Dental Care are other prominent players in the space which accounted for ~%, ~% and ~% market share in FY’2017, respectively. Other major dental chains operating in this sector included Primary Dental, 1300 Smiles, No Gaps Dental and All On 4 Dental which accounted for ~%, ~%, ~% and ~% market share respectively. All other organized dental chains comprised for the remaining ~% market share in FY’2017.
Australia Dental Services Market Future Outlook and Projections
Australia’s ageing population, growing dental health awareness, inclining patient fee for dental services, rising out-of-pocket and private health insurance expenditure are likely to drive the market growth in the mid-long term. Growing private health insurance coverage would largely stimulate market growth going forward as patients would be willing to visit dental clinics on a more frequently and undergo expensive procedures as part of it is funded by insurance funds. The number of registered dental practitioners is anticipated to rise over ~ by 2022 from current ~. On the other hand, the number of dental establishments is expected to exceed over ~ by 2022 from ~ in 2017. Overall, the dental services market in Australia is expected to grow steadily at a CAGR of ~% during FY’2017-FY’2022 from AUD ~ Million in FY’2018 to AUD ~ Million by FY’2022.
Key Topics Covered in the Report:
– Australia Dental Services Market Size by Revenue
– Australia Dental Services Market Segmentation by Organized and Unorganized Sector, By Payer, By Services, By States, FY’2012-FY’2017
– Trends and Developments in Australia Dental Services Market
– Market Share of Major Players in Australia Dental Services Market
– Company Profiles of Major Players
– Snapshot on Dental Insurance Providers in Australia
– Snapshot on Australia Dental Tourism Sector
– Snapshot on Australia Dental Equipments and Consumables Market
– SWOT Analysis of Australia Dental Services Market
– Investment Model for Setting up a Dental Clinic
– Future Outlook for Australia Dental Services Market
– Analyst Recommendations
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Ankur Gupta, Head Marketing & Communications