Dental Tourism Market Poised to Achieve US$24.3 Billion Valuation by 2032, Fueled by Impressive 13.6% CAGR in Sales Growth

The global Dental Tourism Market is expected to reach a valuation of US$ 6.7 billion in 2022, with sales growth of a 13.6% CAGR during the forecast period. The rapid adoption of technologically advanced medical devices in emerging economies will drive growth in the market, with the market size reaching US$ 24.3 billion by 2032.

Rising costs of health care and dental services in developed countries are forcing consumers to adopt dental tourism. This trend is driven by the lack of insurance coverage for major elective dental surgery procedures in several countries.

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In addition, treatment costs in countries such as India, Thailand, and China are relatively lower than in the countries of North America and Europe. This reflects an increase in dental tourism from Europe and North America to emerging economies. Obtaining a medical visa for such procedures is comparatively faster and easier, thereby facilitating the flow of patients abroad for treatment.

Promotional strategies such as the launch of online campaigns showcasing cost-effective services from healthcare facilities are contributing to the growth of the market. Providing undivided attention to healthcare and providing affordable accommodation sparks consumer interest in adopting attractive medical-tourism packages, identifying both treatment and recreational choices.

With increasing lifestyle-related diseases and unhealthy dietary intake, the incidence of dental disease is increasing. The high prevalence of diseases such as dental caries has led to a spike in dental restoration procedures. Thus, the increasing burden of dental abnormalities is propelling the interest in cosmetic dentistry, creating growth opportunities in the market.

"Increasing adoption of technologically advanced medical devices in emerging economies, along with increasing government-backed investment in the development of healthcare infrastructure in these countries is expected to drive the market in the coming years," said an FMI analyst.

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Key learning points:

-On a service basis, revenue in the dental cosmetics segment will grow at a robust CAGR of 18.1% through 2032.
-In terms of providers, the hospital chain segment is expected to account for 47.2% of the total market share by 2022.
-India will emerge as a lucrative pocket, accounting for 53.9% of the dental tourism market share in South Asia by 2022.
-What are some of the core competencies and differentiating competencies of new entrants and established players in the industry that we analyze?
-What are some of the brand opportunities that are developing at a rapid pace?
-What are the key competitive forces and elements of the external environment that determine the industry lifecycle stages of most organizations?
-Why are some competitive strategies more popular than others among leaders in a particular market?
-What customer-based brand value strategies have companies used in a particular industry or set of related industries in an industry?

Competition Landscape

With the advancement in cosmetic dentistry, market players are striving to offer these services at affordable prices to gain a competitive advantage. They also invest in mergers, acquisitions, and collaborations to expand their global presence. Other strategies include product and service promotions on social media and online channels, as well as partnerships with hospital chains.

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 Key Market Segments Covered in Dental Tourism Industry Research

By services:

-Dental implants
-Periodontology
-endodontics
-Dental prostheses
-Orthodontics
-pedodontics
-Oral surgery
-Dental Cosmetics
-Dental Consultation

By travelers:

-Occasional travelers
-Business travelers

By providers:

-Hospital chains
-Multi-Specialty Clinics
-Independent clinics

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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This release was published on openPR.