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2nd Quarter 2012 Germany Market Snapshot Series (MSS) Report on Dental Practice Activity

Report #: 120533-102

Date: 08/20/2012

Regional Market Covered: Germany

Fees: $995.00 USD  (inquire for annual subscription discounts)

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Overview:

The 2nd Quarter 2012 edition of OMNIDEN™ - AFG Research’s international dental omnibus - included several questions designed to gather dentists’ opinions regarding the current state of the German economy and the way their practice has been affected by the current economic environment. Results for these questions are made available as part of a new report titled: “2nd Quarter 2012 Germany Market Snapshot Series (MSS) Report on Dental Practice Activity”.

Specifically, AFG Research probed into what 150 dentists in Germany think about the current economic environment and the challenges faced by their practice (750 dentists since the 2nd quarter 2011). 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 first six months of 2012 have been rather difficult for Germany and other countries in the European Union. Greece has threatened European macroeconomic stability with ongoing negative economic growth and unemployment rates reaching more than 20%; Italy is practically in a recession and Spain is not far behind. In addition, European leaders have not been able to effectively harness a comprehensive and definite deal on how to deal with the crisis – a negative signal for equity markets in Europe and abroad. As observed in previous quarters, the German economy has proven to be relatively sturdy despite the surrounding hostile economic atmosphere. The slight economic contraction experienced in the last quarter of 2011 has been reversed in the first quarter of 2012, but clear signals of economic expansion are still to be seen.

According to the Federal Statistics Office of Germany (Statistisches Bundesamt Deutschland), the seasonally-adjusted quarterly growth of GDP in the 1st quarter of 2012 was 0.5%: an improvement from the -0.2% recorded in the 4th quarter of 2011 and similar to the 0.6% growth estimated in the 3rd quarter. However, industrial production (total industry excluding construction) decreased by 2.0% in April 2012, after increasing monthly by 0.6%-0.9% in the first 3 months of 2012 . Lastly, the German annual inflation rate as measured in May 2012 was a relatively lower 2.2% - slightly below the 2.4% average for the European Union.

The German unemployment rate improved throughout the last months of 2011 and continues to be one of the lowest in the Eurozone. Recently updated data show that the overall unemployment rate has been rather constant at 5.6% since January 2012 . Current German unemployment is well below the Eurozone average (11.1%) and continues to be at least 2.5 percentage points lower than U.S. levels.

The most recent Ifo Business Survey reveals that the business climate for trade and industry decreased in June 2012, with the manufacturing business climate worsening noticeably . The overall Ifo Business Climate Index had increased slowly but consistently from October 2011 to April 2012 (from 106.5 to 109.8), but decreased to 106.9 and 105.3 in May and June, respectively. It must also be noted that the Ifo Business Expectations Index decreased to 100.8 and 97.3 in the May and June, after reaching the 102.7 level in March and April.

The following views and opinions provide a more comprehensive insight into the current economic performance and future challenges of the German economy:

  • “Start the engines, Angela”, The Economist, June 9, 2012.

  • “Confidence Declines in Germany and France”, The Wall Street Journal, June 19, 2012.

  • “The High Cost of Germany's Economic Success”, Spiegel Online, May 4, 2012.

  • “German Economy Grew More Than Forecast in First Quarter”, Bloomberg, May 15, 2012.

The current dental practice activity index, which compares the current state of dental practice business dimensions to those present six months ago, was estimated at 52.0 in the current quarter – below the 55.6 index of the last 3 months of 2011 and the 54.3 index estimated in first 3 months of 2012. This recent decline suggests a slight weakening of the overall business environment during the first half of 2012. Overall business conditions have been perceived recently as negative by an increasing proportion of practices. One year ago (Q211), 26% of practices reported ‘somewhat worse’ or ‘much worse’ business conditions when evaluating the preceding six-month period, 25% did so in Q311 and 17% did so in Q411. In the first and second quarters of 2012, such proportion increased slightly to 19% and 22%, respectively.

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 4 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 (six questions on current practice conditions and six questions on expected practice conditions), provide a clear and concise view on the evolution of current business perceptions and expectations over the recent 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 Germany 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 German economy on dental practices (current and historical levels by specialty and segment)
  • Current dental practice current activity index
  • Perceived conditions of the German 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 German 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)

Dental Procedures Covered:

Regional Market Covered: Germany

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:

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:

Please contact us should you have any questions regarding our market research reports or require any assistance in placing an order.

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