Global Dental Insurance Market Size and Trends Will Reach US$ 313.0 Billion by 2027 – Exclusive Report from Astute Analytica

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North America is the dominant region in the dental insurance market due to the increasing number of dental treatments in the developed countries in the region. Whereas, the Asia Pacific region in the global dental insurance market is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period due to rising population, GDP growth, healthcare expenditures and technological advancement in the region.

New Delhi, June 15, 2022 (Globe Newswire) – Global Dental Insurance Market It was valued at US$182.7 billion in 2021 and is expected to reach US$313.0 billion by 2027. The market is expected to register a compound annual growth rate of 8.0% during the forecast period.

Dental insurance is a type of health insurance designed to pay for a certain cost associated with dental care. Dental insurance helps cover the costs of dental care, from basic preventive coverage to major dental work, depending on the type and scope of the insurance plan. Gum disease and dental caries are among the most important global burdens of oral health.

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market dynamics

Factors such as the continued growth of cosmetic dentistry, increasing prevalence of dental caries and gum disease, increased awareness towards oral hygiene and policy changes towards health insurance are driving the growth in the global dental insurance market during the forecast period. Rising disposable income and awareness of beauty is driving the global growth of cosmetic dentistry. Dental stain removal, teeth reshaping, professional teeth whitening, filling gaps and fissures, placing crowns, veneers, bridges, dentures, dental implants, and oral restorations through dental fillings are the various cosmetic dental procedures. Moreover, with the increasing prevalence of oral diseases globally along with costly treatment, is driving the growth of dental insurance market across the globe. Moreover, the introduction of blockchain in dental healthcare insurance creates a profitable growth opportunity in the market. However, indifference towards dental care in emerging and underdeveloped economies is restricting market growth. Due to lack of awareness, poor oral hygiene and consumption of tobacco and alcohol, various dental problems such as tooth decay, gum disease, oral cancer, tooth erosion and bad breath are caused.

market insights

  • Based on coverage, DHMO (Dental Health Maintenance Organizations) division holds the highest share in 2021 and is also expected to grow at the highest compound annual growth rate (CAGR) during the forecast period. It is a type of managed care service, in which a network of qualified dentists provides comprehensive and affordable care to families and individuals.

  • In terms of procedure type, the major segment captured the largest market share in 2021. Major dental care procedures include crowns, root canals, dentures, bridges or implants. While the preventive sector is expected to grow at the highest CAGR during the forecast period as these procedures are covered 100% in dental insurance services.

  • On the basis of demographics, the secondary segment is estimated to hold the largest share in 2021 due to high intake of fast food, supporting segmental growth in the dental insurance market. While the adult segment is expected to maintain the highest compound annual growth rate (CAGR) as adults are estimated to be the main user of dental insurance.

  • Based on the end user, the corporate segment holds the highest share of the dental insurance market in 2021 as the corporate segment offers health insurance (including dental insurance) to its employees. As the retail segment is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period. The growing awareness regarding oral hygiene in developed economies and the increase in the number of family dental insurance plans is fueling segmental growth in the market.

  • By region, North America is the dominant region in the dental insurance market due to the increasing number of dental treatments in the developed countries in the region. The Asia Pacific region in the global dental insurance market is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period due to rising population, GDP growth, healthcare expenditures and technological advancement in the region.

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Report feature

details

Market size value in 2021

182.7 billion US dollars

Market Outlook 2027

313.0 billion US dollars

Expected growth in compound annual growth rate

8.0%

base year

2021

prediction period

2022-2027

The best players in the market

Aetna Inc. and AFLAC Inc. and Allianz, Ameritas, AXA, Cigna, Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich), MetLife Services and Solutions, LLC and others

covered slices

By Coverage, By Action, By Demographics, By End Users, By Region

geographical coverage

North America, Europe, Asia Pacific, South America, Middle East and Africa

Customization Options

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Company Profile

  • Aetna Inc. (Aetna), a subsidiary of CVS Health Corp., is a healthcare benefits company. It offers a range of conventional, voluntary, customer-oriented health insurance products and related services. The company provides insurance products for medical, dental, pharmacy, behavioral health, long-term care, medical termination of loss, group life, and disability. Furthermore, it also offers Medicare health care administration services, Medicare and Medicare supplemental 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 include 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 company that provides insurance, employee benefits, annuities, and asset management products and services. Offers insurance products for Long Term, Variable Life, Universal Life, Dental, Vision, Accident and Health, Short and Long Term Group Disability, Individual Disability, Critical Illness, Accidental Death and Dismemberment.

Competitive insight

The global dental insurance market is highly competitive in order to increase their presence in the market. Some of the major players operating in the global dental insurance market include Aetna Inc. and AFLAC Inc. and Allianz, Ameritas, AXA, Cigna, Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich) and MetLife Services and Solutions, LLC, among others.

Partition overview

The global dental insurance market is segmented on the basis of coverage, procedures, demographics, end users, and region. The industry trends in the dental insurance market are divided into different categories in order to have a comprehensive view of the global market.

Below are the various segments of the global dental insurance market:

By sector coverage from worldwide dental insurance The market is sub-divided into:

As per the procedure part of worldwide dental insurance The market is sub-divided into:

According to the demographic part of worldwide dental insurance The market is sub-divided into:

  • Senior citizens

  • Underage

  • grown ups

According to the end-user segment of worldwide dental insurance The market is sub-divided into:

  • the individual

  • companies

    • small businesses

    • medium enterprises

    • big companies

By Region Part of global dental insurance The market is sub-divided into:

To get more market insights with a detailed table of content and numbers, click here: https://www.astuteanalytica.com/industry-report/dental-insurance-market

About Astute Analytica
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