Global Dental Insurance Market Overview
Dental Insurance Market Size was valued at USD 190.5 Billion in 2022. The dental insurance market industry is projected to grow from USD 208.59 Billion in 2023 to USD 431.143 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2023 - 2032). Growing dental health concerns and greater public knowledge of dental care are the main market drivers driving the market. It is anticipated that rising treatment costs would further fuel market expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Dental Insurance Market Trends
- Increased knowledge of oral cleanliness is driving the market growth
There is an enormous need for dental hygiene due to the increased knowledge of oral cleanliness, which is now one of the crucial parts of human health. Thus, the need for dental insurance coverages has increased due to the rise in the use of oral hygiene services, which is driving the market's growth. Dental insurance also provides many other benefits, such as minor surgical treatments, tooth extraction, therapy for diseased nerves, and drainage of minor mouth infections. As a result, better dental care has led to a great rise in oral hygiene awareness, which in turn has fueled the expansion of the dental insurance market.
The protection of dental insurers against variations in revenues, prices, and yields, coupled with an increase in assistance from numerous governments worldwide, propels the growth of the dental insurance market. Additionally, an increase in programs and assistance in a number of nations enables insured people to have dental insurance coverages with a wider range of personalized and customized options available. For instance, the Indian government's "Ayushman Bharat" program is an attempt to formalize dental treatments for the nation's enormous population base and includes dental insurance. Thus, the market for dental insurance is growing as a result of increased government initiative and assistance.
The dental insurance market offers a huge window of opportunity to grow the current dental coverage product range. Additionally, by utilizing technology for insurance coverages, insurers increase the range of products and services they offer and give value-added services to their clients. The use of technology can also reduce the need for manual claim settlement procedures, improve the efficiency of the claim process, stop insurance fraud, and reduce diagnostic errors and overdiagnosis. Thus, it is anticipated that technological adoption and the growth of already-existing goods and services would present dental insurance companies with profitable prospects in the years to come. Thus, driving the dental insurance market revenue.
Dental Insurance Market Segment Insights
Dental Insurance Coverage Insights
The Dental Insurance Market segmentation, based on coverage includes Dental Preferred Provider Organizations (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, and Others The Dental Preferred Provider Organizations (DPPO) segment dominated the market. Since it offers monetary incentives to DPPO members for remaining in the network, growth is anticipated during the predicted period. Customers have the opportunity to consult with any licensed dentist or expert during that DPPO session. The dentist receives payment from the indemnity dental policies in proportion to the cost of services rendered.
Dental Insurance Procedure Insights
The Dental Insurance Market segmentation, based on procedure, includes Major, Basic, and Preventive. The preventive category generated the most income. Insurance for preventative care covers avoiding dental problems such as cavities, gum disease, and damaged enamel. The market is being driven ahead in large part by the growing demand for dental insurance, which primarily belongs to the category of preventative insurance.
Dental Insurance Demographics Insights
The Dental Insurance Market segmentation, based on demographics, includes Senior Citizens, Adults, and Minors. The senior citizens category generated the most income. The population of many nations, including the United States, is aging as a result of longer life expectancies. Senior citizens are becoming more and more prominent in the dental insurance market as a result of this demographic trend. Furthermore, dental health problems like gum disease, tooth decay, and tooth loss are more common in older people.
Figure 1: Dental Insurance Market, by Demographics, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Dental Insurance End User Insights
The Dental Insurance Market segmentation, based on end user, includes Individuals and Corporates. The corporates category generated the most income. With their health insurance policies, employers can afford to provide dental coverage to their employees, often globally. As a benefit that many organizations offer to their employees, prospective employees actively look for these precautions in future employers.
Dental Insurance Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American dental insurance market area will dominate this market. There are a lot of people that live in North America who are generally well off. There are many middle-class people in the United States in particular who can pay the premiums for dental insurance.For dental insurance companies, this generates a sizable consumer base. Furthermore, a lot of American firms include dental insurance in their benefits packages for staff members.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: DENTAL INSURANCE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe dental insurance market accounts for the second-largest market share owing to a rise in disposable income, higher health security requirements, increased oral hygiene awareness, lower dental insurance costs, increased advancements in the development of dental treatment-related medications, and a convergence of dental insurance coverages within health insurance. Further, the German dental insurance market held the largest market share, and the UK dental insurance market was the fastest growing market in the European region
The Asia-Pacific Dental Insurance Market is expected to grow at the fastest CAGR from 2023 to 2032 because more people are conscious of the same things. due to rising dental insurance security standards, improved disposable money brought on by increased awareness of oral hygiene and health, and improvements in dental treatment medications. Moreover, China’s dental insurance market held the largest market share, and the Indian dental insurance market was the fastest growing market in the Asia-Pacific region.
Dental Insurance Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the dental insurance market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, dental insurance industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global dental insurance industry to benefit clients and increase the market sector. In recent years, the dental insurance industry has offered some of the most significant advantages to medicine. Major players in the dental insurance market are attempting to increase market demand by investing in research and development operations includes Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich), Allianz, MetLife Services and Solutions, LLC, Cigna, Aetna Inc., United HealthCare Services, Inc., AFLAC INCORPORATED, Ameritas, and AXA.
Services for asset management and insurance are offered by Allianz SE (Allianz). Under the Allianz and Allianz Trade brands, it provides property and casualty (P&C) and life insurance products. Coverage for auto, liability, homeowner, travel and assistance, marine, aviation, and transit is offered by the organization. In addition, Allianz provides pension products, endowment and retirement plans, and term insurance. Equities, alternative investments, and fixed income are among its asset management offerings.
Provider of supplemental insurance is Aflac Inc. (Aflac). To assist individuals and business clients, the corporation and its subsidiaries provide life and health insurance supplemental products and services. It provides dental, short-term disability, hospital, cancer, critical illness, and accident insurance. Along with this, it provides hybrid, whole life, term, fixed annuity, vision, and child endowment insurance. Services covered by its products include COBRA administration services, enrollment solutions, insurance advice, claims settlement services, and health reimbursement plans.
Key Companies in the dental insurance market include
- Delta Dental
- HDFC ERGO Health Insurance Ltd. (Apollo Munich)
- Allianz
- MetLife Services and Solutions, LLC
- Cigna
- Aetna Inc.
- United HealthCare Services, Inc.
- AFLAC INCORPORATED
- Ameritas
- AXA
Dental Insurance Industry Developments
June 2022: Global Health Care was introduced by Allianz in partnership with Allianz Partners to offer health coverage everywhere. One of the broadest Sum Insured ranges on the Indian market, ranging from USD 100,000 to USD 1,000,000, is provided by the Global Health Care product. The device comes with two plans that offer both domestic and international coverage: the "Imperial Plan" and the "Imperial Plus Plan."
January 2022: In 46 states, Aetna provides Medicare Advantage Prescription Drug (MAPD) plans. Aetna has expanded into 83 more counties, giving an extra 1 million Medicare enrollees access to its plans. In all, 53.2 million Medicare beneficiaries will be able to access MAPD plans in 1,875 counties by 2022.
Dental Insurance Market Segmentation
Dental Insurance Coverage Outlook (USD Billion, 2018-2032)
- Dental Preferred Provider Organizations (DPPO)
- Dental Health Maintenance Organizations (DHMO)
- Dental Indemnity Plans
- Others
Dental Insurance End User Outlook (USD Billion, 2018-2032)
Dental Insurance Procedure Outlook (USD Billion, 2018-2032)
Dental Insurance Demographics Outlook (USD Billion, 2018-2032)
- Senior Citizens
- Adults
- Minors
Dental Insurance Regional Outlook (USD Billion, 2018-2032)
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 190.5 Billion |
| Market Size 2023 |
USD 208.59 Billion |
| Market Size 2032 |
USD 431.143 Billion |
| Compound Annual Growth Rate (CAGR) |
9.50% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Coverage, Procedure, Demographics, End Use, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich), Allianz, MetLife Services and Solutions, LLC, Cigna, Aetna Inc., United HealthCare Services, Inc., AFLAC INCORPORATED, Ameritas, and AXA |
| Key Market Opportunities |
·      Rising Government Programs and Policies |
| Key Market Dynamics |
·      Growing Concern for Dental Health ·      Rising Dental Issues as a Result of Insufficient Intake |
Frequently Asked Questions (FAQ) :
The Dental Insurance Market size was valued at USD 190.5 Billion in 2022.
The global market is projected to grow at a CAGR of 9.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich), Allianz, MetLife Services and Solutions, LLC, Cigna, Aetna Inc., United HealthCare Services, Inc., AFLAC INCORPORATED, Ameritas, and AXA.
The senior citizens category dominated the market in 2022.
The preventive category had the largest share in the global market.
