The latest edition of the Australian Dental Products Business Conditions Survey covers the FY2016-17 third quarter and provides industry sentiment that the growth in dental product sales volumes has been sustained. The survey is published by the Australian Dental Industry Association (ADIA), the peak business organisation representing manufacturers and suppliers of dental products.
"This latest assessment of business sentiment amongst dental product manufacturers and suppliers suggests that the growth in dental product sales volumes experienced over 2016 has been continued into the first quarter of this calendar year," said Troy Williams, ADIA Chief Executive Officer.
The Australian Dental Products Business Conditions Survey is produced using feedback from the businesses that supply products to dentists and allied oral healthcare professionals. It reviews current business conditions and future expectations on a quarterly basis across a number of key indicators including: Sales volumes, selling prices, manufacturing / import costs; administrative costs; workforce size; and wage costs.
The survey provides index figures for each of the above referenced categories, with an index level of 50 indicating that there is an exact balance of sentiment between those who responded that measure of business activity is growing and those who replied that the measure of business activity had declined. Thus, any level below 50 can generally be interpreted as sentiment of deteriorating business conditions, conversely a reading above 50 reflects sentiment that business conditions improved.
"The composite index assessing dental product sales volumes and selling prices was 71.8 for the third quarter of FY2016-17, providing sentiment that both volumes and prices are climbing strongly," Mr Williams said.
Respondents to the Australian Dental Products Business Conditions Survey also have the opportunity to offer commentary on the business conditions experienced by their business.
"There was fairly uniform commentary on what's driving business amongst product suppliers, this being a sustained increase in the number of patients being seen by their clients, the dental practices. This is in contrast with the feedback from eighteen months ago that the dental industry's clients were doing it tough," Mr Williams said.
For more information on the current report visit: www.adia.org.au/statistics/products.survey