Five-year forecast report foresees more favourable economic climate
A new report forecasts strong growth across the industry in the coming five years and concludes that by 2018 UK dentistry will be worth £9 billion, a 14% increase on its current value.
Dental marketing agency Manan Limited, who collected data from more than 600 dentists for their 2012 Dental Survey, shared their findings with Mintel, having been approached by industrial analyst and author of the report, Angus Handley.
Manan’s data provided an insight into some key areas of the dental market, including dentists’ likelihood of increasing specialist service provision, the level of hygienist services currently available, and the profession’s adoption of new technology, such as online appointment booking.
The report gives detailed forecasts of how the next five years are likely to develop, particularly in the face of a new NHS contract, currently expected no earlier than 2016.
Predicting slow growth in the private sector of only 2.5% (on a par with GDP forecasts) between 2014 and 2016, a more favourable economic climate and increased disposable income will lead to more patients accessing private care, causing a rapid increase in 2017 and 2018, resulting in an overall five-year forecast of 14% growth, according to the report.
Similarly, cosmetic dentistry is also expected to benefit from the predicted change in the economic environment.
The report concludes that once the financial barriers to cosmetic treatment are removed there is a healthy prediction of 21% growth over the next five years in this sector.
Manan has full access to the report and will be happy to discuss those aspects that pertain to their clients’ individual needs.
For more information visit www.mananltd.com