Many Canadians do not have dental insurance, which has posed a barrier to dental care
New York, NY (PRWEB) March 15, 2015
Over the past five years, the Dentists industry has exhibited growth despite a slight decline in dental expenditures per capita. According to data from the Canadian Institute for Health Information, per capita expenditures for dental services marginally declined, which has slightly cut into the industry's growth. Nevertheless, dental care still accounts for the second-largest share of private-sector medical spending. Among private-sector dental practices, individuals covered almost half of their dental care out-of-pocket. As a result, dental practices had lower administrative costs compared with the healthcare sector as a whole due to having to secure fewer reimbursements from health insurance providers.
Still, according to 2009 data (latest available) from Health Canada's Canadian Health Measures Survey, about one-third of Canadians did not have dental insurance, which has posed a barrier to dental care for many Canadians. IBISWorld Economic Analyst Sarah Turk says in the updated report “furthermore, some provinces and territories had a very low dentist-to-patient ratio, which limited some Canadians' access to dental care services.” According to 2013 data (latest available) from the Canadian Dental Association, some provinces, such as Newfoundland, New Brunswick and Saskatchewan, had significantly higher population to dentist ratios, compared with the Canadian average. Over the five years to 2015, industry revenue is anticipated to grow. Profit is expected to increase, due to the emergence of more multi-practitioner, group dental practices, which has enabled dentists to generate more in-house referrals, by providing general and specialized dentistry, and lower fixed operational costs.
Over the coming years, the burgeoning elderly population will spur demand for restorative, cosmetic, periodontal and orthodontic care. “For example, as this demographic keeps their natural teeth longer, thanks to the advent of new medical technologies, this trend will provide a boost to the industry,” Turk says in the updated report. In the five years to 2020, industry revenue is forecast to grow.
For more information, visit IBISWorld’s Dentists in Canada industry report page.
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IBISWorld industry Report Key Topics
This industry comprises establishments of licensed dentists primarily engaged in the private or group practice of general or specialized dentistry or dental surgery. Offices of dentists, especially walk-in centres that accept patients without appointment and that often have extended office hours, are sometimes called clinics or dental centres.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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