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1st Quarter 2011 U.S. Market Snapshot Series (MSS) Report on Dental Practice Activity - Sustained Practice Activity Amidst Moderate Growth

Report #: 110233-100

Date: 05/09/2011

Fees: subscription-based (please inquire for quarterly subscription fees)

Ordering the report: please inquire at publications@afg-research.com

 

Overview:

The 1st Quarter 2011 edition of OMNIDEN™ - AFG Research’s U.S. and international dental omnibus - included several questions designed to gather dentists’ opinions regarding the current state of the U.S. economy and the way their practice has been affected by the current economic environment. Results for these questions are made available as part of a new report titled: “1st Quarter 2011 U.S. Market Snapshot Series (MSS) Report on Dental Practice Activity - Sustained Practice Activity Amidst Moderate Growth”.

Specifically, AFG Research probed into what 250 U.S. dentists think about the current economic environment and the challenges faced by their practice (2,250 U.S. dentists since the 4th quarter 2008). As part of this study, AFG Research measured the changes experienced in the volume of twenty different dental procedures during the past six months, including direct restorations, implant procedures and many others.

The post-recession economic environment of 2010 has seen some modest growth of the U.S. economy. Despite the fact that growth expectations were not met by the observed performance of U.S. GDP during 2010 and the beginning of 2011, the business atmosphere looks moderately positive:

  • “A gentle tailwind”, The Economist, April 7, 2011

  • “ A Healthier Job Market at Last”, Brookings, April 1, 2011

  • “Leading U.S. Indicators, Consumer Confidence Gain as Fuel Costs Discounted”, Bloomberg, April 21, 2011

  • “U.S. economy gained strength in early 2011: Fed”, Financial Post, March 2, 2011

The general theme, for the 1st Quarter 2011, is that some leading dental industry business indicators such as practice profitability and revenues have accrued the benefits of the recovery experienced during 2010. However, future expectations for business may be lackluster in the near future.

The recent improvement of the U.S. unemployment rate, which has recently seen a decrease during the 1st Quarter 2011 (from 9.8% in September 2010 to 9.0% in March 2010 - Bureau of Labor Statistics) and the decrease in the number of job losers and temporary workers, have lead to a better business atmosphere for the dental industry towards 2011.

Nonetheless, the decelerating growth of the economy towards the first quarter of 2011, the increase in consumer price indices, the higher costs of fuel and the lack of a vibrant real estate market seem to have contributed to decrease the growth momentum of some elective dental procedures and the revision of certain financial health expectations within the dental practice.

The research also confirmed three main underlying segments among U.S. dental practices: "On the edge", "Bandwagon" and "Robust". Perceptions of the U.S. economy, procedure volume (past and forecasted), as well as dental equipment / technology purchases are clearly different among each of these three segments. Concerning these segments, the present quarter’s results show an all-time low (since the 1st Quarter 2009) in the percentage of “On the Edge” dental practices among the population, a decrease in the “Bandwagon” segment and the noticeable increase in the “Robust” segment. These movements go hand in hand with the continued yet moderate expansion of the U.S. economy during 2010.

This quarter’s report continues to analyze two measures for tracking both the current state and the expected state of dental practice activities over the last 9 quarters: the “AFG Research Current Dental Practice Activity Index” and the “AFG Research Dental Practice Activity Expectations Index”. These indices, each of which is constructed from the re-scaled results of twelve questions (six questions on current practice conditions and six questions on expected practice conditions), provide a clear and concise view on the evolution of current business perceptions and expectations over the recessionary period.

Current and expected U.S. dental practice activity charts below:

 

The report will help dental manufacturers and distributors to: a) assess the current business environment of the industry, b) better understand the ways in which dentists across the U.S. are coping with changes in the economic environment, c) identify key opportunities for adapting their business to better address the needs of their customers d) track the changes in key dental business activities during both the recessionary and post-recessionary periods, and e) identify future trends and developments to better forecast business activity in 2011 and beyond.

Research Focus:

  • Influence of the U.S. economy on dental practices (current and historical levels by specialty and segment)
  • Current dental practice current activity index
  • Perceived conditions of the U.S. economy & practice activity (local economy, business conditions, revenues, profitability and technology investments, practice daily calendar, conversion rate for elective procedures)
  • Expected dental practice activity index
  • Expected conditions of the U.S. economy & practice activity (local economy, business conditions, revenues, profitability and technology investments, practice daily calendar, conversion rate for elective procedures)
  • Dental procedure volume analysis (current and historical levels by specialty and segment)
  • Dental procedure volume variations in past 6 months
  • Dental procedure volume variation expectations for next 6 months
  • Number of patients seen per week (current and historical levels)
  • Number of orthodontic cases & Invisalign patients (by age group of patients)
  • Dental impression methods (conventional versus digital impressions)
  • Practice expansion intentions (add new operatory, practice relocation, add new office)
  • Practice management priorities

Dental Procedures Covered:

Regional Market Covered: USA

Data Collection Date: March 2011

Report and Data Availability:

  • Online report (iCharts) available using name-based account
  • 400 key charts presented by key topics (current and expected practice activity metrics, procedure volume and variations)
  • 150 interactive charts with filtering capabilities (census region, dental practice size, etc.)
  • Summary of key findings and executive summary
  • Cross-tabulation of survey results by multiple classification questions (MS Excel)
  • Downloadable report (MS PowerPoint)

Information on Report License:

  • Site License: This license allows for use of the report by an unlimited number of people within the same enterprise location. Each of these people may use the report on any computer, and may print out the report, but may not share the report (or any information contained therein) with any person or persons outside of the enterprise location. Customers who infringe these license terms are liable for a Global Site license fee.

  • Global Site License: This license allows for use of the report by an unlimited number of people within the same enterprise worldwide. Each of these people may use the report on any computer, and may print out the report, but may not share the report (or any information contained therein) with any other person or persons outside of the enterprise. Please contact us for details.

DTA Members Discount:

Dental Trade Alliance (DTA)

 AFG Research is a member of the Dental Trade Alliance (DTA)

Any organization which is currently a member of the Dental Trade Alliance (DTA) is eligible to an additional discount on the report license fees. Please request your coupon code if applicable.

Additional Questions:

Please contact us should you have any questions regarding our market research reports or require any assistance in placing an order.

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