The gradual re-introduction of elective surgeries throughout North America has major implications on the future of the dental industry. Currently, practices are beginning to re-open, in accordance with the general easing of restrictions in public institutions and places.
During the temporary closure of dental practices to all but emergency treatments, a significant portion of potential revenue was eliminated. Over 500 000 dental office jobs were lost in April in the United States, according to the American Dental Association (ADA). In a recent poll conducted by the ADA, 56% of dental employees in the US revealed they are not receiving any pay. Of these individuals, 57% have received unemployment benefits.
In the week of May 4th, 28 states allowed dental practices to begin providing elective procedures. This was a significant step in the resurgence of the dental industry. This led to an increase in revenue for dental practices in these states, but patient volume still remained at 28% of normal, according to the ADA. This is likely because much apprehension towards receiving dental care still exists for much of the population, even if restrictions have been lifted. In addition, many dental practices are choosing not to re-instate elective procedures yet for precautionary reasons, and some are simply not equipped to re-instate them. Polling data from the ADA showed that over 30% of dental practices currently do not have any N95 masks. However, as restrictions continue to lessen, and more PPE becomes available, this market is expected to continue to return to normalcy.
COVID-19 has already caused significant social and economic impacts on medical device organizations worldwide. At iData Research, it is our prime responsibility to keep you updated on the latest market trends in the industry. We are working hard to update the contents of our report library to reflect on changes in the market due to the effects of the coronavirus. Through our MedSKU service, our clients are able to track the changes within different market segments based on hospital purchasing data.
In addition, we have created a dedicated page, COVID-19: Implications for the Medical Device Industry, to post news updates and provide information on the current market situation. It is our intention that this page can help industry leaders ask the right questions, and shed light on what the future might hold for medical device markets.
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