What Wall Street saw at the 2012 Chicago Midwinter Meeting

By Kevin Henry
Editor, Proofs

The Wall Street analysts at R.W. Baird recently visited the 2012 Chicago Midwinter Meeting. Following interviews they conducted at the meeting, here are their views on the dental market.

Domestic dental consumables market has continued to grow ~4%+/- in 1Q-12, in line with 4Q levels and nicely above 2-2.5% domestic market growth just six to nine months ago, with modestly improving patient volumes and improving mix (greater uptake of more premium products such as crown/bridge, etc.) the key drivers.

Domestic dental equipment demand holding in at +/-5%, a good number and one most of our sources believe could move a bit higher throughout the year if consumables trends continue to improve (better practice cash flow would then drive greater willingness to buy equipment).

Rest of world fairly stable, with Asia/Pac dental demand growing by mid/upper-single digits and Europe flattish but not getting incrementally worse over past three to five months. Some optimism seems to be building as German macro data has improved in first two months of 2011.