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Dental Insurance Market Share, Overview, Growth And Forecast 2024-2033
Dental Insurance Market Size
As per the report, the dental insurance market size has grown strongly in recent years. It will grow from $182.68 billion in 2023 to $198.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The dental insurance market size is expected to see strong growth in the next few years. It will grow to $275.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
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Surge In Dental Insurance Market Driven By Increasing Prevalence Of Oral Disorders
The increasing prevalence of oral disorders is expected to propel the growth of the dental insurance market going forward. Oral illnesses are disorders that comprise a variety of diseases and situations, such as tooth decay, periodontal (gum) disease, tooth loss, oral cancer, and others. Dental insurance provides the individual with coverage related to medical care expenses and managing funds for those suffering from oral illness and increases the frequency of dental check-ups that benefits the patients. For instance, in November 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based organization responsible for international public health, the estimates that oral disorders impact around 3.5 billion individuals globally, and severe periodontal diseases affect approximately 19% of the global adult population, representing more than 1 billion cases. Furthermore, the global incidence of lip and oral cavity cancers is expected to be 377 713 new cases and 177 757 fatalities in 2020. Therefore, the increasing prevalence of oral disorders will drive the growth of the dental insurance market.
Retrace Labs And Partners Unveil AI-Based Dental Management Network
Product innovation has emerged as the major trend gaining popularity in the dental insurance market. Major companies operating in the dental insurance market are focused on innovative solutions to sustain their position in the market. For instance, in October 2021, Retrace Labs Inc., a US-based artificial intelligence-powered dental health startup partnered with Intel Corporation, a US-based technology company, and SoftBank Group Corp, a Japan-based integrated telecommunications services launched an AI-based dental management network to streamline the complexity of dental administration with scalable end-to-end services. Stealth mode with a product claimed to be a unique feature in the dental market that allows real-time connectivity between payers, providers, and patients to enable instant payments based on quality measures. It guides providers and payers through a complicated system of historically dissimilar procedures and provides patients with clarity on their insurance coverage, the proposed treatments from providers, and how much of those therapies are reimbursed, as well as their financial obligations.
The dental insurance market covered in this report is segmented -
1) By Type: Major, Basic, Preventive
2) By Coverage: Dental Preferred Provider Organizations (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, Other Coverages
3) By Demographics: Senior Citizens, Adults, Minors
4) By End User: Individuals, Corporates
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Major companies operating in the dental insurance market report are United HealthCare Service LLC, Cigna Corp., Allianz SE, Axa S A, Kaiser Permanente Inc., Humana Inc., MetLife Services and Solutions LLC, Aetna Inc., Progressive Corporation, The Travelers Companies Inc., Anthem Insurance Companies Inc., 3M Company, GEICO Insurance Company, Aflac Inc., EmblemHealth Inc., Delta Dental Insurance Co., Ameritas Holding Company, Horizon Blue Cross Blue Shield of New Jersey, Dominion group of companies, Envivas Inc., First Commonwealth Bank, Healthplex Inc., Apollo Munich Health Insurance, Guardian Life Insurance Company of America, Renaissance Holding Company, DentaQuest Inc., United Concordia Insurance Co., OneExchange Corp., Farmers Group of Companies, WellCare Health Plans Inc.
Contents of the report:
1. Executive Summary
2. Dental Insurance Market Report Structure
3. Dental Insurance Market Trends And Strategies
4. Dental Insurance Market - Macro Economic Scenario
5. Dental Insurance Market Size And Growth
…..
27. Dental Insurance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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