Dental Product Sales Drop Suggests Survey
The Australian Dental Products Sector Business Conditions Survey that assesses sentiment on sales volumes and selling prices has dropped to its lowest level in three years and the underpinning data suggests a fall in sales volumes for the first quarter of FY2017-18.
Key Issues For The Dental Industry —
The Australian Dental Industry Association (ADIA) publishes the Australian Dental Products Sector Business Conditions Survey provides a quarterly assessment of the business conditions amongst dental product manufacturers and suppliers.
The dental products sales composite index combines sentiment of sales volumes and selling prices (separate figures are available in the full report) for the first quarter of FY201718. With an index reading of 55.8 it suggests sentiment of weak to moderate growth compared to the previous quarter. This index reading is the lowest in more than three years and was underpinned by a substantial fall in the Actual Sales Index which suggested a decline in nation-wide sales volumes for the quarter and corresponds with data in the most recent ADIA Bite Magazine Dental Practice Business Conditions Survey that also suggests dental practices had bought less products.
This edition of the survey reports on the actual business conditions within dental product manufacturers and suppliers for the first quarter of FY2017-18 and notes the following sentiment:
|Dental Product Sales Composite Index
55.8 (Previous Quarter 58.1)
|Measure:||This index provides an assessment of sentiments as to whether sales volumes and selling prices rose, fell or stayed the same compared to the previous quarter.|
|Assessment:||The underpinning sentiment that prices increased off-set sentiment that sales volumes decreased.|
The Australian Dental Products Sector Business Conditions Survey also provides sentiment of cost pressures across dental product manufacturers and suppliers. The dental products suppliers composite index was 53.5 which was the lowest across the entire survey series.
|Dental Product Suppliers Cost Composite Index
53.5 (Previous Quarter 61.4)
|Measure:||This index provides an assessment of sentiments as to whether product manufacturing / purchase and administrative costs rose, fell or stayed the same compared to the previous quarter.|
|Assessment:||Sentiment of a moderate increase in business costs.|
Survey respondents that provided commentary as to the costs pressures within businesses suggested that the value of the Australian dollar relative to other currencies, typically the US$, EUR€, JPY¥ and CNY¥, had not increased business costs as could be expected should the Australian dollar’s value fall. Some businesses suggested that an increase in electricity prices were putting pressure on their profitability.
This data is designed to provide guidance on the sentiment within the dental industry and provides a useful way for dental product manufacturers and suppliers to assess whether the business conditions that they are experiencing are broadly in-line with sector-wide sentiment.
|Dental Products Sector Sentiment Survey Information —|
|Australian Dental Products Sector Business Conditions Survey – Download current edition *
Australian Dental Products Sector Business Conditions Survey – Survey methodology
The data collected to provide this report was collected via an online survey over two weeks from 3 October 2017 that was completed by approximately one in three member businesses. The Australian Dental Products Sector Business Conditions Survey is just one of many ADIA’s publications that analyse the market for dental products. For information on other market analysis visit the ADIA website.
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 23 October 2017 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/