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$2.263 Billion Dental Industry Reviewed In Detail
New analysis shows that the dental industry has annual sales of $2.263 billion underpinned by average annual growth of 5.7% over the past ten years. It’s not all good news, though, as in FY2016-17 some sectors experienced a decline in sales.
Key Issues For The Dental Industry —
A new report commissioned by the Australian Dental Industry Association (ADIA) assesses the size of the dental industry and provides guidance on product sales. It provides a valuable resource for dental product suppliers to plan for their future growth.
The Australian Dental Industry Intelligence Report is a major piece of research undertaken by Deloitte Access Economics for ADIA. Its purpose is to provide guidance on the size of Australia’s dental industry and individual product sectors.
The next edition of the report will be launched at the Australian Dental Industry Growth Conference to be held over 26-27 October 2018 on the Gold Coast. For conference registration information visit the website at:
At the Australian Dental Industry Growth Conference you’ll hear how the report assesses year-on-year changes in sales measured in both dollar terms and in percentage terms for the entire sector and selected product categories including:
|■ Dental laboratory products;
■ Orthodontic and restorative products;
■ Dental instruments and fittings;
■ Anaesthesia products;
■ Infection control products;
■ Imaging equipment;
■ Imaging products; and
■ Anaesthesia products.
The Australian Dental Industry Intelligence Report is unique as it is based upon data from a range of government and non-government sources which is used to construct a model of Australia’s dental industry. This Report estimates the value of products and services provided by the dental industry to dentists and allied oral healthcare professionals. It is a useful and credible benchmarking tool for ADIA’s member businesses and is a valuable reference for ADIA’s future consultations with government.
The next edition of the report includes an assessment of Australia’s dental product market through to the end of FY2016-17 and includes some valuable data on the sales of products to dental practices that includes:
|■ Annual sales of $1.10Bil (to practices); and
■ Average growth of 5.7% over ten years.
Overall, this report has estimated that the Australian dental industry is valued at $2.26 billion for the financial year 2016-17 when over-the-counter (OTC) sales are included and services such as financing.
In the ten years up to, and including, FY2016-17 the value of the Australian dental industry (including OTC sales and those to practices) has grown considerably averaging 5.0% per annum.
The latest edition of the Australian Dental Industry Intelligence Report also shows that it’s not all good news, nor does the industry experience year-on-year consistency. For example, the data shows that the ‘instruments and fittings’ sales category fell by 6.63% in FY2016-17.
The next edition of the report will be launched at the Australian Dental Industry Growth Conference to be held over 26-27 October 2018 on the Gold Coast and discounted conference registration is available to ADIA member businesses.
Member engagement —
ADIA provides leadership, strategy, advocacy, and support. Our members set our agenda, fund our activities, and directly benefit from the results. With respect to the market research published by ADIA, representatives of member businesses serving on the ADIA-MSPC Market Statistics Projects Committee provide advice and guidance to the national office team responsible for managing the research projects.
Currency & Disclaimer —
This update was issued on 3 September 2018 and please note that changes in circumstances after the publication of material or information may impact upon its accuracy and also change regulatory compliance obligations. The statements, regulatory and technical information contained herein are believed to be accurate and are provided for information purposes only. Readers are responsible for assessing its relevance and verifying the accuracy of the content. To the fullest extent permitted by law, ADIA will not be liable for any loss, damage, cost or expense incurred in relation to or arising as a result of relying on the information presented here.
Article Credit: ADIA – https://www.adia.org.au/