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2nd Quarter 2012 U.S. Market Snapshot Series (MSS) Report on Dental Practice Activity - Industry Revitalization Lingers Despite Spring Slowdown
Report #: 120533-100
Fees: $1,495 USD for current release (inquire for annual subscription discounts)
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The 2nd 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: “2nd Quarter 2012 U.S. Market Snapshot Series (MSS) Report on Dental Practice Activity - Industry Revitalization Lingers Despite Spring Slowdown”.
Specifically, AFG Research probed into what 250 U.S. dentists think about the current economic environment and the challenges faced by their practice (3,500 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 relatively clear signs of macroeconomic improvement witnessed in the first quarter of 2012 did not materialize into trends of sustained macroeconomic expansion during the second quarter of 2012. For many, the spring ‘slowdown’ and the lack of an evident economic boom were well within the possible set of scenarios; for others, the weaker gains in employment and GDP growth were extremely disappointing.
Today, as we enter the summer months of 2012, employment creation and labor force expansion remain positive but with a momentum that fails to satisfy markets all around. In addition, capital markets continue to be hyper-sensitive, responding hastily to news on European debt problems, domestic investment forecasts and overall consumer expectations. It is expected, however, that the debt containment negotiations reached by European powers in the final weeks of June will contribute to a better international and domestic business climate.
The following summarizes the U.S.’s most recent macroeconomic events up to the second quarter of 2012:
The U.S. Department of Commerce estimated that real GDP increased at a quarterly (seasonally-adjusted) rate of 1.9% in the first quarter of 2012; quarterly growth in the fourth quarter (2011) was estimated at relatively higher 3.0%. This deceleration in real GDP growth was the result of slower increases in private inventory investment and in non-residential fixed investment. Lower levels of federal, state and local government spending also contributed negatively.
Health care services slightly increased their contribution to the quarterly growth of GDP in the first quarter of 2012. In the third quarter of 2011, such services had contributed negatively with a - 0.07% growth to the 1.8% overall growth in real GDP; in the fourth quarter, the contribution was of 0.25% to the 3.0% overall growth; in the first quarter of 2012, the contribution was a slightly higher 0.39%.
The national unemployment rate remained unchanged at 8.2% over the second quarter of 2012, maintaining the gains observed earlier in the year. It must be noted, however, that nonfarm payroll employment rose by a meagre 77,000 jobs in April, by 69,000 jobs in May and by 80,000 jobs in June - well below the 226,000 average monthly job gains recorded in the first quarter of 2012. Employment gains in May were due primarily to increases in the health care and transportation sectors, while important decreases were observed in construction.
In terms of inflation, the monthly seasonally adjusted consumer price index for all-items decreased by 0.3% in May, after a 0.3% increase in both February and March. Such decline was due to a 6.8% decrease in the gasoline index which contributed to sharp decreases in both energy and all-item indices. The food CPI remained unchanged in May after a 0.2% increase in both March and April.
The following articles present an overview of the challenges facing the American economy in the months to come:
“Downdraught: America’s economy battles uncertainty, both home-made and imported”, The Economist, June 9, 2012.
“U.S. Economy Demands New Policy to Rescue Jobs and Growth”, Forbes, April 23, 2012.
“America's flagging recovery: Third time unlucky”, The Economist, June 1, 2012.
“Spring Swoon in the Job Market Recovery ”, Brookings, June 1, 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.
- 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:
- Direct anterior & posterior fillings / restorations
- Whitening / bleaching
- Cleaning / prophylaxis
- Sealant cases
- Fluoride treatment
- Enamel shaping
- Treatment planning & diagnostic
- Dental crowns
- Dental bridges
- Root canal treatment
- Endodontic post
- Orthodontic braces / appliance
- Removable dentures
- Full dentures
Regional Market Covered: USA
Data Collection Date: June 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:
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.
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- Dentists and U.S. Economy 1st Quarter 2012 - Industry Revitalization Underway
- Dentists and U.S. Economy 4th Quarter 2011 - Signs of a Long Overdue Recovery
- Dentists and U.S. Economy 3rd Quarter 2011 - Economic Headwinds
- Dentists and U.S. Economy 2nd Quarter 2011 - Stalling Economy, Stalling Business
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