New Delhi, June 15, 2022 (GLOBE NEWSWIRE) — Global Dental Insurance market was valued at US$ 182.7 Billion in 2021 and is forecasted to reach US$ 313.0 Billion by 2027. The market is expected to register a CAGR of 8.0% during the forecast period.
Dental insurance is a type of health insurance that is designed to pay a certain cost associated with dental care. Dental insurance helps cover the costs of dental care, ranging from basic preventative coverage to major dental work, depending on the type and scope of the insurance plan. Periodontal disease and tooth decays have been considered as the most important global oral health burdens.
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Factors such as continuous growth of the cosmetic dentistry, rise in prevalence of dental caries and periodontal diseases, rise in awareness toward oral hygiene and policy changes towards health insurance drives the growth in the global dental insurance market over the forecast period. Rising disposable income and awareness for aesthetics are driving the global growth of cosmetic dentistry. Removing teeth stains, reshaping teeth, professional teeth whitening, filling gaps and cracks, placing crowns, veneers, bridges, dentures, dental implants and oral restorations through dental fillings are the various cosmetic dentistry procedures. Moreover, with the rising prevalence of oral diseases globally along with its expensive treatment is driving the growth of the dental insurance market across the globe. Furthermore, introduction of blockchain in the dental healthcare insurance creates a lucrative growth opportunity in the market. However, apathy towards dental care in emerging and underdeveloped economies restricts the market growth. Due to lack of awareness, poor oral hygiene, consumption of tobacco and alcohol, various dental problems such as tooth decay, gum disease, oral cancer, tooth erosion and bad breath are caused.
- Based on coverage, the DHMO (Dental Health Maintenance Organizations) segment holds the highest share in 2021 and is also anticipated to grow at the highest CAGR during the forecast period. It is a type of managed care services, in which a network of qualified dentists provides inclusive and affordable care for families and individuals.
- In terms of procedure type, the major segment held the largest share in the market in 2021. Major dental care procedures include crowns, root canals, dentures, bridges or implants. Whereas preventive segment is expected to grow at the highest CAGR during the forecast period as these procedures are 100% covered in the dental insurance services.
- On the basis of demographics, the minor segment is estimated to hold the largest share in 2021 due to high intake of junk food, thus supporting the segmental growth in the dental insurance market. Whereas adults’ segment is anticipated to hold at the highest CAGR as adults are estimated to be the major user of dental insurance.
- Based on end user, the enterprises segment holds the highest share in the dental insurance market in 2021 as corporate sector offers health insurance (including dental insurance) to its employees. Whereas, the individual’s segment is anticipated to grow at the highest CAGR during the forecast period. The increasing awareness regarding the oral hygiene in developed economies and the increase in the number of dental insurance plans for the family is augmenting the segmental growth in the market.
- By region, North America is the dominating region in the dental insurance market owing to increasing number of dental treatments in developed countries of the region. Whereas, Asia Pacific region in global dental insurance market is expected to grow at the highest CAGR during the forecast period owing to rising population, growing GDP and healthcare expenditure, and technological advancement in the region.
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|Market Size Value in 2021||US$ 182.7 Billion|
|Market Outlook for 2027||US$ 313.0 Billion|
|Expected CAGR Growth||8.0%|
|Top Market Players||Aetna Inc., AFLAC Inc., Allianz, Ameritas, AXA, Cigna, Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich), MetLife Services and Solutions, LLC and among others|
|Segments Covered||By Coverage, By Procedure, By Demographics, By End-Users, By Region|
|Geographies Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Customization Options||Get your customized report as per your preference. Ask for customization|
- Aetna Inc. (Aetna), a subsidiary of CVS Health Corp, is a health care benefits company. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services. The company provides insurance products for medical, dental, pharmacy, behavioural health, long term care, medical stop loss, group life, and disability. Moreover, it also offers Medicare health care management services, Medicare Advantage and Medicare supplement plans, and workers’ compensation administrative services.
- Ameritas Life Insurance Corp. (Ameritas), a subsidiary of Ameritas Mutual Holding Co, is an insurance service provider. The company offers a wide range of insurance solutions, which includes life insurance, whole life insurance, term insurance, disability income insurance and retirement plans. Moreover, it also offers dental plans, vision care plans, hearing care plans, annuities and investment solutions.
- MetLife Inc. (MetLife) is a provider of insurance, employee benefits, annuities and asset management products and services. It offers insurance products for term life, variable life, universal life, dental, vision and accident and health, group short- and long-term disability, individual disability, critical illness, and accidental death and dismemberment.
Global Dental Insurance Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the global dental insurance market include Aetna Inc., AFLAC Inc., Allianz, Ameritas, AXA, Cigna, Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich), MetLife Services and Solutions, LLC and among others.
Global Dental Insurance market is segmented based on coverage, procedure, demographics, end-users and region. The industry trends in the dental insurance market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Dental Insurance Market:
By Coverage segment of the Global Dental Insurance Market is sub-segmented into:
- Dental Health Maintenance Organizations (DHMO)
- Dental Preferred Provider Organizations (DPPO)
- Dental Indemnity Plans
By Procedure segment of the Global Dental Insurance Market is sub-segmented into:
By Demographics segment of the Global Dental Insurance Market is sub-segmented into:
- Senior Citizens
By End-Users segment of the Global Dental Insurance Market is sub-segmented into:
- Small Enterprises
- Medium Enterprises
- Large Enterprises
By Region segment of the Global Dental Insurance Market is sub-segmented into:
- North America
- The UK
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
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