Industry Analysis & Industry Trends
Over the past five years, the Dental Services industry has benefited 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 by an annualised 2.2% over the five years through 2016-17, to reach $9.4 billion. This includes subdued growth of 0.9% over the current year.
The Federal Government has introduced several significant policy changes over the past five years, with varied effects on the industry... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry are considered to be at a moderate level in the industry. The cost to establish a new practice can be upwards of about $400,000, representing a barrier for new players. New practices must pay for equipment, and establishing protocols and systems for a new practice. In difficult economic circumstances, finances to establish a new practice can be difficult to attain and present a further barrier to entry.
The training required to be a dentist is significant, especially for specialist practitioners. These practitioners must attain qualifications in addition to the basic tertiary dental qualification, alongside prescribed clinical experience. Typically, a Masters degree in the appropriate specialisation is required, plus two years of practice under supervision... purchase to read more