Adding up to a 22% increase over the past five years, these bumper pay packets are due in large part to the increased demand for cosmetics related dental procedures, the company has observed.
“Increased demand for a range of cosmetic procedures, many of which require specialist equipment, has been a key driver of the growth,” it has stated.
Laser whitening, computerised smile analysis and teeth straightening are some of the key procedures which have been singled out as responsible, confirming that consumer interest in perfect smiles is on the up.
New attitudes
Peter Alderson, LDF’s managing director, has attributed the rise in consumer spending on dental work in the UK to rapidly shifting consumer attitudes.
“Increasing numbers of dental patients are starting to explore cosmetic treatments like laser whitening and are willing to pay significant amounts of money for cutting-edge services, especially if they are delivered in a more exclusive, private clinic-style environment.”
Strong investment into equipment and services is key for dental businesses looking to exploit the rising trend, the finance expert has suggested, with consumers increasingly attracted to well-polished practices.
Consolidating business
A more streamlined sector may also be partly to thank for the bigger returns in dentistry.
The sector has seen a strong trend of mergers and acquisitions in recent years, with some large private equity-backed dental groups growing significantly, LDF has noted.
“The biggest dental groups are able to invest very heavily in their practices’ equipment, furnishings and IT systems, and that has raised the stakes in the profession markedly,” Alderson has said.
Indeed, he has observed that some dental groups now operate more than 400 practices across the UK.
Trend from the US
The consumer enthusiasm for dazzling smiles is a trend which the UK has been adopting from across the Atlantic, some commentators suggest.
UK newspaper The Guardian is one publication to have drawn the comparison, noting that the recent trend “suggests Britain may be moving towards the US fixation on dental cosmetics.”