Press release
Dental Insurance Market Opportunities & Share Analysis Report is Expected to Reach USD 464.82 Billion By 2032
Global Dental Insurance Market size and share is currently valued at USD 208.62 billion in 2023 and is anticipated to generate an estimated revenue of USD 464.82 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 9.3% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 - 2032
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The expansion of the dental insurance market can be attributed to several factors, including increasing awareness about dental care, the rising costs of dental treatments, and an aging population that requires ongoing dental care. According to the World Health Organization, oral health is essential at every stage of life, from early childhood to old age, making it an integral part of overall health and well-being. Elevating awareness about dental health not only instills confidence in individuals but also encourages them to prioritize maintaining good oral health.
As people become more conscious of the importance of dental care, they are inclined to seek regular dental check-ups and treatments. However, dental treatments can be expensive, especially for complex procedures or ongoing care. Dental insurance plays a crucial role in making these treatments affordable and accessible. Individuals, aware of the significance of good dental health, are opting for dental insurance to cover the costs of necessary dental procedures. This increasing awareness and proactive approach towards oral health directly contribute to the growing demand for dental insurance, as people recognize the financial protection it offers in maintaining their dental well-being.
The aging population is anticipated to be a significant driver of market growth in the coming years, primarily due to the high prevalence of dental issues among the elderly. According to the Centers for Disease Control and Prevention, in 2021, people aged 65 yrs and above had tooth cavities, and 1 in 5 individuals in this age group had untreated tooth decay. Elderly individuals often experience a higher frequency of dental problems, including tooth loss and various oral diseases, compared to younger individuals. Consequently, they require more frequent and extensive dental care.
Managing the costs associated with dental treatments becomes a concern for the elderly due to the necessity of frequent dental visits and potential need for procedures like dentures, implants, or other restorative treatments. In response to these challenges, many seniors opt for dental insurance coverage. Dental insurance helps mitigate the financial burden by covering a portion of the costs related to preventive care, restorative procedures, and other dental treatments.
Some of the major players operating in the global market include:
Aetna
AFLAC Inc
Allianz SE
Ameritas Life Insurance Corp
AXA
Cigna
Delta Dental Plans Association
HDFC Ergo Health Insurance Ltd
Metlife Services & Solutions
United Concordia
United HealthCare Services Inc.
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Growth Drivers and Applications:
Preventive Care Emphasis: Dental insurance plans often encourage preventive care measures such as regular check-ups, cleanings, and screenings. This emphasis on preventive care helps in early detection and treatment of dental issues, reducing overall treatment costs.
Expansion of Coverage Options: With the evolving healthcare landscape, dental insurance providers are expanding coverage options to cater to diverse consumer needs, including specialized treatments, orthodontic care, and cosmetic dentistry.
Technological Advancements: Technological innovations in dentistry, such as digital imaging, CAD/CAM technology, and minimally invasive treatments, are driving changes in dental insurance coverage and reimbursement policies.
Population Aging: As the global population ages, there is a growing demand for dental services among older adults. Dental insurance plays a vital role in providing affordable access to dental care for seniors.
Dental Insurance Market Report Highlights
DPPO segment held the largest share, as it has huge network of dentists and insurance providers providing dental care
Adults segment will grow rapidly, owing to change in awareness of dental health problems and associated health affects
North America dominated the market, due to advanced healthcare network, presence of dental specialists and presence well developed reimbursement scenario
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Polaris Market Research has segmented the dental insurance market report based on coverage, type, demography, and region:
Dental Insurance, Coverage Outlook (Revenue - USD Billion, 2019 - 2032)
Dental Preferred Provider Organizations (DPPO)
Dental Health Maintenance Organizations (DHMO)
Dental Indemnity Plans
Others
Dental Insurance, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Major
Basic
Preventive
Dental Insurance, Demography Outlook (Revenue - USD Billion, 2019 - 2032)
Senior Citizens
Adults
Minors
Dental Insurance, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Contact Us:
Polaris Market Research
Phone: +1-929-297-9727
Email: sales@polarismarketresearch.com
About Us:
Polaris Market Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
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