The dental insurance market size is expected to grow from US$ 172.51 billion in 2023 to US$ 364.45 billion by 2031; it is anticipated to expand at a CAGR of 9.8% from 2023 to 2031. The dental insurance industry is continuously expanding, owing to increased awareness of oral health and rising dental care expenditures. As people seek full coverage for preventive, diagnostic, and treatment services, the need for dental insurance policies grows. Furthermore, governmental initiatives mandating dental coverage, together with employer-sponsored insurance packages, drive market growth. Technological improvements, such as tele-dentistry, are also influencing the market by giving easy access to dental treatments. With an emphasis on preventative care and affordability, the dental insurance industry is expected to continue to grow, providing opportunities for insurers to innovate and satisfy changing customer expectations.
The dental insurance market forecast is estimated on the basis of various secondary and primary research findings, such as key company publications, association data, and databases. Economic growth, an expanding middle class, innovation, and regulatory assistance are propelling the insurance business forward. The revenue of the global dental insurance market is a function of the economic conditions of developed and developing economies. There has been a rise in awareness about oral hygiene in these economies. According to the World Health Organization (WHO), periodontal disease affects around 3.5 billion individuals, with cavities in permanent teeth being the most frequent. Dental caries in primary teeth (milk teeth) are also common in children, impacting around 530 million children worldwide. This is one of the major factors driving the dental insurance market growth globally.
Convergence of health and dental insurance to Drive the Dental Insurance Market
The scope of the Dental Insurance market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific (APAC) is experiencing rapid growth and is anticipated to hold a significant dental insurance market share. The region's significant economic development, growing population, and increasing focus on risk management and insurance have contributed to this growth. APAC is home to many developing countries like India and China, driving the growth of the market.
The "Dental Insurance Market Analysis" was carried out based on coverage, procedure, end user, and geography. In terms of coverage, the market is segmented into dental health maintenance organizations (DHMO), dental preferred provider organizations (DPPO), dental Indemnity plans (DIP), dental exclusive provider organizations (DEPO), and dental point of service (DPS). Based on procedure, the market is segmented into preventive, major, and basic. Based on end users, the Dental Insurance market is segmented into individuals and corporates. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the dental insurance market. A few recent key market developments are listed below:
[Source: Cigna Healthcare, Company Website]
[Source: Cigna Healthcare, Company Website]
[Source: PNB MetLife India Insurance Co Ltd, Company Website]
The market report "Dental Insurance Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 172.51 Billion |
| Market Size by 2031 | US$ 364.45 Billion |
| Global CAGR (2023 - 2031) | 9.8% |
| Historical Data | 2021-2023 |
| Forecast period | 2023-2031 |
| Segments Covered |
By End-Users
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The key players holding majority shares in the global dental insurance market are Aetna; AFLAC Inc; Allianz; AXA; Cigna; HDFC Ergo Health Insurance Limited; United Concordia; and Metlife
The global dental insurance market is expected to reach US$ 364.45 billion by 2031.
The global dental insurance market was estimated to be US$ 172.51 billion in 2023 and is expected to grow at a CAGR of 9.8% during the forecast period 2023 - 2031.
Developments in tele-dentistry are impacting dental insurance, which is anticipated to play a significant role in the global dental insurance market in the coming years.
The convergence of health and dental insurance, rising oral health awareness, and rising dental care costs are the major factors that propel the global dental insurance market.