Dental Equipment Companies - Competitive Landscape 1
Based on revenue, the dental equipment market in the United States is currently valued at $18.7 billion and has been recording an annual growth rate of 4.1% for the last 5 years since 2015.
- Company Profile: Benco is a one-stop supply shop for dentists that offers their clients a wide range of products and services including dental supplies, dental equipment, as well as business and technical support to dental practitioners.
- The company supplies to over 60,000 dentist across the United States, and its product offering extends to business solutions, such as office design, supplying furniture, billing systems and technological support. Additionally, business solutions include wealth management, real estate, marketing and financial consulting.
- Product Offering: Benco offers a wide range of products that can be classified into 3 categories: dental supplies, dental equipment, and dental services. The company supplies over 30 categories of products required by dentists to treat patients, such as gloves, drills, composites and impression materials.
- Dental equipment supplied by Benco includes items such as digital radiography, laser technology, CAD/CAM and lab equipment. Under dental services, the company provides a wide range of services to practitioners including business support, marketing, financial management and consulting. These services allow dental practitioners to focus solely on their patients, as Benco handles the practice.
- Target Market: Considering the wide range of products and services offered by Benco, the company’s target market mainly consists of dentists practicing in the United States, including those who run their own dental clinics. According to the company’s website, Benco provides supplies to over 60,0000 dental professionals across the US.
- Competitive Advantage: Benco provides a wide range of services that go beyond medical supplies to include practice care. It is a one stop shop for any dentist looking to begin their own practice.
- Benco has a huge online presence with around 64,340 visitors in the last 6 months. Most of the visitors are interested in health-related issues, which implies that the company’s brand presence and awareness is strong among medics. Among the online community, Benco’s influence is growing tremendously, which implies a strengthening brand image.
- The company was awarded by NEPA as one of the best places to work in Pennsylvania.
- Company Profile: Henry Schein Dental is a global supplier of medical equipment, pharmaceuticals, vaccines and even financial services to a wide range of customers, including both patients and doctors.
- The company provides a wide range of products and services to dental practitioners. These products and services include supplies needed by dentists in their line of work, dental equipment, practice management softwares, new technological solutions, business consulting as well as servicing and repair. The company also provides financial support to practitioners and patients in need of a credit line to finance expensive dental procedures.
- Target Market: Henry Schein’s target market involves dental practitioners as well as dental patients seeking financial assistance.
- Competitive Advantage: The company enjoys a sustained 8% year-over-year growth. The major competitive advantage of Henry Schein is its diversification through “broad product offering, and incremental practice management services.” Additionally, the company enjoy a solid distribution network throughout the country considering the tightening competitive environment posed by online wholesalers.
- The company also enjoys a strong online presence with 944,670 visits in the last 6 months. Further, Henry Schein’s marketing strategy involves digital advertising through social media and search engines.
We sought to find out the competitive landscape of two dental equipment companies given by the client. Both companies have a strict pricing strategy that mainly restricts information on the prices to doctors only. This could be explained by the disruption caused by the emergence of online wholesalers offering competitive prices. Recently, both companies, including Patterson, were involved in an antitrust case with the FTC explaining the price tensions between the competitors.