If your degree program feeds into a specific career path, you’re probably always looking for fluctuation in job opportunities within the industry. With that fact in mind, it’s reasonable to assume that students currently enrolled in dental assistant colleges have a bit of cause for celebration as of late.
According to NBC, dental supply stocks have been tearing up the market recently, performing far more highly than many of their medical industry competitors. Of course, there may be a correlation here between industry growth and an increase in job opportunities for students who will be graduating soon.
Baselines and growth
Much of what investors and students alike look for when they select a field of interest is annual growth. Whether you’re hoping to be involved in a field where you can advance your career or to invest your money in something with long term potential, the dental field could be perfect for you. The industry, according to CNBC, is currently worth a reported $116 billion.1 Of course, this statistic doesn’t mean much without potential for growth year after year. As the host of NBC’s popular investing show, ‘Mad Money’, Jim Cramer has reported, the industry is showing annual growth of roughly three percent
Accessibility driving revenue
While dental work may seem a basic privilege to many of us, the truth of the matter is that it’s simply outside the budget of many families. Having something as simple as a common cavity filled can leave individuals with bills totaling hundreds of dollars if their dental insurance is inadequate. The fact that the dental industry is doing so well right now is believed to be influenced by the general growth and recovery of the economy.2 As peoples personal finances stabilize, they can again afford to receive the dental care they may have been putting off.
Meaning for students
While the financial side of things can be somewhat dry for students whose interests align with fixing teeth, it shouldn’t be ignored. When they hit the job market, students should look for practices or supply companies that embody the kind of annual growth shown here. These businesses and industries will undoubtedly offer more room for advancement than others might. Keep in mind, though, that enhanced competition in the market could drive these financial reporting numbers down. For example, popular company Gilead, a pharmaceuticals business, saw a drastic decrease in its stock when rival Abbvie releases a more competitive Hepatitis-C drug earlier this week.3
1) Dental Stocks are Mint Right Now, Abigail Stevenson, CNBC, 12/22/14 http://www.cnbc.com/id/102290243#.
2) The Hottest Investing Sector Right Now, Abigail Stevenson, CNBC, 12/22/14 http://www.cnbc.com/id/102290385
3) Is Competition Killing Gilead? Miriam Metzinger, Seeking Alpha, 12/22/14 http://seekingalpha.com/article/2775225-cramers-mad-money-is-competition-killing-gilead-12-22-14