Global Dental Insurance Market to 2027 – by Coverage, Procedure, Demographics, End Users and Region – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–
The “Global dental insurance market, by coverage, by procedure, by demographics, by end users, By regionEstimate & Forecast, 2017 – 2027″ report has been added to from ResearchAndMarkets.com offer.

The global dental insurance market held a market value of $169.8 billion in 2020 and is expected to reach $306.4 billion by 2027. The market is expected to register a CAGR of 8.8% over the projected period.

Dental insurance or dental plans are a type of health insurance, which is structured to pay a portion of dental care costs. The market is expected to grow due to factors such as the continued growth of the cosmetics industry and the increasing prevalence of dental caries and periodontal diseases. Additionally, rising awareness of oral hygiene coupled with policy changes in health insurance is also expected to fuel the growth of the market.

Despite the driving factors, apathy towards dental care in emerging and underdeveloped economies is expected to hamper the market growth. In addition, the high cost associated with dental insurance premiums is also estimated to limit the growth of the market.

Companies cited

Advertising

  • Aetna Inc.
  • AFLAC Inc.

  • Allianz

  • Ameritas
  • AXA

  • Cigna

  • Delta Dental

  • HDFC ERGO Health Insurance Ltd. (Apollo Munich)
  • MetLife Services and Solutions, LLC
  • United HealthCare Services, Inc.
  • OneExchange

  • Enviva

  • united concordia

Growth Influencers:

An increase in the prevalence of dental caries and periodontal disease

With the increasing prevalence of dental caries and various periodontal diseases, the demand for dental insurance is also increasing. According to an article by World Health Organizationfrom March 2020, about 3.5 billion people suffer from oral diseases and about 530 million children suffer from dental caries of the primary teeth. According to National Center for Biotechnology Informationfrom May 2020, the prevalence of periodontal disease varies between 20% and 50%. Consequently, the prevalence of dental caries and periodontal disease is increasing, which is also expected to increase the uptake of dental insurance.

Awareness of oral hygiene

Oral hygiene awareness is one of the most vital aspects of human health. This has greatly increased the demand for dental hygiene. Consequently, this has increased the adoption of oral hygiene services, which is also expected to boost the demand for dental insurance. Indeed, dental insurance covers the extraction of teeth, the treatment of infected nerves, the drainage of minor oral infections and dental surgical procedures. All these factors are increasing the adoption of dental insurance, thus fueling the growth of the market.

Presentation of the segments:

The global dental insurance market is segmented on the basis of coverage, procedure, demographics, and end users.

Per cover

  • Dental Health Maintenance Organizations (DHMO)

  • Preferred Dental Provider Organizations (DPPO)

  • Dental insurance plans

  • Others

Dental Preferred Provider Organizations (DPPOs) are expected to hold the largest market share of around 49% as they provide the option to consult any specialist or licensed dentist. The dental insurance plan segment is expected to grow at a CAGR of 7.8% due to its cost effectiveness and ease of use.

By procedure

The basic procedure segment is expected to witness the fastest CAGR due to its high adoption, while the preventive segment is expected to exceed a market value of $92 billion by 2023.

By demographics

  • The elderly

  • Minor

  • Adults

The miner segment is expected to witness the fastest growth rate owing to the increasing prevalence of dental problems among miners. The adult segment is expected to account for a 53% market share in 2023 owing to the growing awareness of dental insurance among adults.

By end users

  • Individual

  • Companies

  • Small enterprises
  • Medium Enterprises
  • Large companies

The corporate segment accounted for the largest market share owing to the increasing adoption of dental insurance by businesses to provide their employees. Within the enterprise segment, the mid-sized segment has witnessed a growth rate of over 9% during the forecast period.

For more information on this report visit https://www.researchandmarkets.com/r/hcpd60

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ResearchAndMarkets.comLaura Wood, senior press Director

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Source: Research and Markets

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