In terms of revenue, the Global Dental Insurance Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 11.5% from 2023 to 2030.
Dental Insurance refers to the coverage protection for dental treatments. A Dental Insurance policy is intended to pay some of the costs of treating dental conditions and preventive dental care. It assists in paying for unexpected dental emergencies that may be costly. The rising awareness about oral hygiene, the increase in protection of dental insurers against fluctuations in revenues, and the lower cost of dental insurers are major factors driving the global Dental Insurance market growth.
The global Dental Insurance market is being propelled by other growth factors such as the growing awareness toward Dental Insurance, rising convergence of Dental Insurance coverages in health insurance, adoption of technology services in Dental Insurance product lines, and increase in the developments and advancements of medicines for dental treatments are the major factors among. Furthermore, the increasing research and development activities in the healthcare system and growth in emerging markets with the rising geriatric population will create growth prospects for the global Dental Insurance market during the projected period.
Key Highlights from the Report
- Based on Coverage, the Dental Preferred Provider Organizations (DPPO) segment dominates the global market. This segment provides several benefits to policyholders looking for dental coverage. The advantage of DPPO plans is the flexibility they offer to policyholders, who can select any dentist within the PPO network without requiring a referral.
- Based on Type, the Preventive Dental Insurance segment is expected to contribute to major market growth during the forecast period. People choose Dental Insurance plans that cover preventive treatments due to increased awareness of the importance of oral hygiene and preventive dental care. Also, Dental Insurance providers provide attractive benefits and packages, encouraging people to select preventive Dental Insurance and propelling this segmental market growth.
- Based on Region, North America holds the major market share within the overall market in 2022 owing to pioneering healthcare structure, regulatory expertise, and high investments in research and development.
The global Dental Insurance market is anticipated to expand due to numerous oral disorders such as broken teeth, oral cancer, tooth decay, and gingivitis. The rise in consumption of sugar and changing diet patterns have increased cavity complications and gum diseases. The increase in awareness concerning adopting Dental Insurance in several developed countries has further directed the broad adoption of such insurance policies to cover treatments or expenses and get quality services. The trend for Dental Insurance is substantially developing in emerging countries. The growth of customized insurance plans that are accessible and offer high quality is projected to assist in the overall market’s growth.
Rising support and initiatives from many governments mainly focus on improving healthcare benefits and Dental Insurance, along with the growing protection of Dental Insurance providers and customers. This, in turn, is anticipated to drive more customers to invest in Dental Insurance, therefore fuelling the market expansion worldwide. Moreover, several policies are created considering a nation's demographic structure and policies to address the needs and requirements of underprivileged individuals in society. This is made possible with the help of vital oral health strategies, emphasizing low-income and underprivileged sections with little access to oral health care. Building up cost-effective population-wide preventive and patient-centered primary health care is among such initiatives responsible for the growth of Dental Insurance.
North America held the major market share of Dental Insurance in 2022 due to its growing acceptance of Dental Insurance. Other significant aspects of the regional market growth include cutting-edge healthcare infrastructure, regulatory expertise, and increased research and development investments. Moreover, the United States is foremost in the Dental Insurance market because of its highly developed healthcare system. The market’s expansion in the country is also assisted mainly by the strong presence of top market players that account for notable market revenue in both private and public sector insurance in the United States. Besides, top market players are likely to implement the strategy of marketing products in a simply understandable manner during the forecast period, propelling regional market growth.
The Global Dental Insurance Market is Segmented as follows
- Dental Preferred Provider Organizations (DPPO)
- Dental Health Maintenance Organizations (DHMO)
- Dental Indemnity Plans
- Other Coverage
- Senior Citizens
- End User
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Dental Insurance Market is
Allianz (Germany), HDFC ERGO Health Insurance Ltd. (Apollo Munich) (India), Metlife Services and Solutions LLC (U.S.), CIGNA (U.S.), AFLAC Inc. (U.S.), United Healthcare Services Inc. (U.S.), Delta Dental Plans Association (U.S.), AXA (France), AETNA Inc. (U.S.), AMERITAS (U.S.)
The Global Dental Insurance Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis