Henry Schein 2003 Annual Report Download - page 7

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The markets we serve are thriving, as an
aging population uses more healthcare
services each year. For example, life
expectancy in the United States is now
77.2 years, up from 75.4 years in 1990.
And the population over 45 years old is
expected to increase by 42% by 2020,
and by 58% by 2030.
Practice trends also bode well for Henry
Schein. Expenditures on dental services
are expected to rise steadily. There is an
increasing recognition of the correlation
between oral health and overall well-
being, and in many countries there is an
increase in dental insurance coverage
for patients and a greater emphasis on
cosmetic dentistry. Dental pharmaceutical
therapies and noninvasive diagnostic
procedures are on the rise, and with fewer dentists to meet
increasing demand, dental practice productivity will be more
important.
In the medical arena, expenditures on physician and clinical
services are also expected to increase. Procedures continue
to migrate from acute-care settings to less costly physician
offices and alternate-care sites. Technological advances are
enhancing medical practices, and our customers are becoming
more frequent prescribers and dispensers of specialty
pharmaceutical products. In addition,
there is continued growth in the use of
injectables and diagnostic tests, and
new vaccines for adults are being
developed.
As a result, Henry Schein’s future holds
great promise. Throughout the years
the healthcare market has shown
growth in both strong and weak
economic times. And because we work
in highly fragmented markets, there are
still opportunities for further industry
consolidation and continued growth.
We are well positioned to capitalize
on these trends, and provide our
customers with an ever-increasing array
of value-added products and services.
Beyond the United States and Canada,
we serve approximately 170,000 customers. We have
operations in 14 countries outside of North America, primarily
in Western Europe, Australia and New Zealand, and typically
enjoy a leadership position in these countries. We also serve
healthcare practitioners in 125 countries through Schein Direct™,
which provides rapid door-to-door air package delivery.
In a world that is progressively more complex and diverse, Henry
Schein is there to meet the needs of our customers.
ONEWORLD.ONECOMPANY. ONETEAM.
ONEWORLD
The markets we serve are
thriving, as an aging
population uses more
healthcare services each year.
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