Industry Analysis & Industry Trends
The Dental Services industry has benefited over the past five years from Australia's ageing and growing population. While many consumers pay for dental check-ups and procedures with their own income, others use private health insurance extras cover to subsidise the cost. Growing private health insurance coverage has therefore stimulated industry growth as patients are more willing to visit their dentist regularly and undergo expensive procedures. Consequently, industry revenue is forecast to rise at a compound annual rate of 2.7% over the five years through 2015-16, to reach $9.2 billion.
Several significant Federal Government policy changes have been introduced over the past five years, with varied effects on the industry... purchase to read more
Industry Report - Industry Analysis Chapter
The Dental Services industry has grown over the past five years, as individuals' expenditure on dental services has increased, despite varying government policies and improved oral health among the population. The Chronic Disease Dental Scheme (CDDS) boosted funding to the industry but ended abruptly in December 2012, while the Medicare Teen Dental Plan (MDTP) ended in December 2013. The end of these programs slowed industry revenue growth significantly in 2013-14, despite being replaced by the Dental Health Reform Package (DHRP). The DHRP was outlined in the 2012-13 Federal Budget and is targeted at those without the means to pay for dental treatment.
In addition to government funding growth, industry revenue has increased due to expanding private health insurance coverage... purchase to read more