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1st Quarter 2012 U.S. Market Snapshot Series (MSS) Report on Dental Practice Activity - Industry Revitalization Underway

Report #: 120233-100

Date: 04/20/2012

Fees: $1,495 USD for current release (inquire for annual subscription discounts)

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Overview:

The 1st Quarter 2012 edition of OMNIDEN™ - AFG Research’s U.S. and international dental omnibus - included several questions designed to gather dentists’ opinions regarding the current state of the U.S. economy and the way their practice has been affected by the current economic environment. Results for these questions have been made available as part of a new report titled: “1st Quarter 2012 U.S. Market Snapshot Series (MSS) Report on Dental Practice Activity - Industry Revitalization Underway”.

Specifically, AFG Research probed into what 250 U.S. dentists think about the current economic environment and the challenges faced by their practice (3,250 U.S. dentists since the 4th quarter 2008). As part of this study, AFG Research measured the changes experienced in the volume of twenty different dental procedures during the past six months, including direct restorations, implant procedures and many others.

The U.S. economy started 2012 on solid footing and with clearer signs of macroeconomic improvement. Throughout most of 2011, both GDP and employment figures improved modestly and without momentum, adding volatility to equity markets, investment horizons and overall consumer confidence. Today, as we conclude the first quarter of 2012, employment creation and labor force expansion seem to be well in place. In addition, equity markets recorded substantial quarterly growth in the price of stocks as European debt woes start to lessen.

The following summarizes the U.S.’s most recent macroeconomic events up to the first quarter of 2012:

  • The U.S. Department of Commerce estimates that real GDP increased at a quarterly seasonally-adjusted rate of 3.0% in the fourth quarter of 2011, while quarterly growth in the third and second quarters was estimated at a modest 1.8% and a lower 1.3%, respectively. This noticeable acceleration in real GDP growth was the result of important increases in personal consumption/expenditure and residential fixed investment - which were only partly offset by decreases in non-residential fixed investment and reductions in spending by the federal government.

  • Health care services contributed moderately to the quarterly growth of GDP in the fourth quarter of 2011. In the second quarter of 2011, health services had contributed 0.32% of the 1.3% growth in real GDP; in the third quarter, the contribution was -0.07% to the 1.8% growth; in the fourth quarter, the contribution was a small but positive 0.09%.

  • The latest employment figures reflect a stronger labor market towards the first months of 2012. The national unemployment rate decreased from 8.6% in November 2011 to 8.2% in March 2012. Although the unemployment rate remained rather constant in the last two months, nonfarm payroll employment rose by approximately 230,000 jobs in February and by 120,000 jobs in March. The latest increase was mainly attributed to job gains in manufacturing (37,000 jobs), professional and business services (31,000 jobs), and health care (26,000 jobs), among others.

  • In terms of inflation, the monthly seasonally adjusted consumer price index for all items increased 0.3% in March, after having increased by 0.4% in February. Approximately 80% of such increases were due to gasoline prices, which rose sharply in the months of February and March. The food CPI increased by 0.2% in March - after having remained unchanged in January and February.

A number of key opinion leaders have shared their views on the recent macroeconomic improvements and the challenges facing the American economy in the months to come:

  • “U.S. Notes Europe’s Progress in Easing Its Debt Crisis”, The New York Times, March 21, 2012.

  • “The American economy: Unmired at last”, The Economist, March 17, 2012.

  • “The U.S. Economy: Regions To Watch In 2012”, Forbes, January 4, 2012.

  • “U.S. Satisfaction Up to 22%”, Gallup® Politics, February 9, 2012.

  • “Cautiously Optimistic – the economy is poised to accelerate”, The Conference Board, March 13, 2012.

This quarter’s report continues to analyze current and expected production for 20 key dental procedures. It also focuses on two measures for tracking both the current state and the expected state of dental practice activities over the last 12 quarters: the “AFG Research Current Dental Practice Activity Index” and the “AFG Research Dental Practice Activity Expectations Index”. These indices, each of which is constructed from the re-scaled results of twelve questions (ten questions on current practice conditions and ten questions on expected practice conditions), provide a clear and concise view on the evolution of current business perceptions and expectations over the recessionary period.

The report will help dental manufacturers and distributors to: a) assess the current business environment of the industry, b) better understand the ways in which dentists across the U.S. are coping with changes in the economic environment, c) identify key opportunities for adapting their business to better address the needs of their customers d) track the changes in key dental business activities during both the recessionary and post-recessionary periods, and e) identify future trends and developments to better forecast business activity in 2012 and beyond.

Research Focus:

  • Influence of the U.S. economy on dental practices (current and historical levels by specialty and segment)
  • Current dental practice current activity index
  • Perceived conditions of the U.S. economy & practice activity (local economy, business conditions, revenues, profitability and technology investments, practice daily calendar, conversion rate for elective procedures)
  • Expected dental practice activity index
  • Expected conditions of the U.S. economy & practice activity (local economy, business conditions, revenues, profitability and technology investments, practice daily calendar, conversion rate for elective procedures)
  • Dental procedure volume analysis (current and historical levels by specialty and segment)
  • Dental procedure volume variations in past 6 months
  • Dental procedure volume variation expectations for next 6 months
  • Number of patients seen per week (current and historical levels)
  • Number of orthodontic cases & Invisalign patients (by age group of patients)
  • Dental impression methods (conventional versus digital impressions)
  • Practice expansion intentions (add new operatory, practice relocation, add new office)
  • Practice management priorities

Dental Procedures Covered:

Regional Market Covered: USA

Data Collection Date: March 2012

Report and Data Availability:

  • Online report (MarketSight) available using name-based account
  • 200 key charts presented by key topics (current and expected practice activity metrics, procedure volume and variations)
  • 300 online charts and summary tables
  • Summary of key findings and executive summary
  • Downloadable report (MS PowerPoint)
  • Cross-tabulation of survey results by multiple classification questions (MS Excel available to subscribers only)

Information on Report License:

  • Site License: This license allows for use of the report by an unlimited number of people within the same enterprise location. Each of these people may use the report on any computer, and may print out the report, but may not share the report (or any information contained therein) with any person or persons outside of the enterprise location. Customers who infringe these license terms are liable for a Global Site license fee.

  • Global Site License: This license allows for use of the report by an unlimited number of people within the same enterprise worldwide. Each of these people may use the report on any computer, and may print out the report, but may not share the report (or any information contained therein) with any other person or persons outside of the enterprise. Please contact us for details.

DTA Members Discount:

Dental Trade Alliance (DTA)

 AFG Research is a member of the Dental Trade Alliance (DTA)

Any organization which is currently a member of the Dental Trade Alliance (DTA) is eligible to an additional discount on the report license fees. Please request your coupon code if applicable.

Additional Questions:

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