Overview and Scope
Dental insurance is a type of health insurance that covers the costs of dental treatment, including concerns with the teeth and gums, as well as preventative treatments such as annual cleanings. In exchange for the payment of a monthly premium, a corporation offers to pay a portion of a consumer’s medical expenses.
Sizing and Forecast
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 growth in the historic period can be attributed to increasing awareness of oral health, employer-sponsored dental benefits, rising dental care costs, government policies and regulations, shift in focus to preventive care.
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%. The growth in the forecast period can be attributed to population aging and dental care needs, expansion of dental networks, customization and flexibility in plans, integration with overall health coverage, digitalization and enhanced customer experience. Major trends in the forecast period include digital claims processing, inclusive coverage for orthodontics, wellness incentives and discounts, global expansion strategies, data analytics for risk management.
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Segmentation & Regional Insights
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
North America was the largest region in the dental insurance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global dental insurance market report during the forecast period. The regions covered in the dental insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The dental insurance market report table of contents includes:
1. Executive Summary
2. Dental Insurance Shipping Market Characteristics
3. Dental Insurance Shipping Market Trends And Strategies
4. Dental Insurance Shipping Market – Macro Economic Scenario
5. Global Dental Insurance Shipping Market Size and Growth
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31. Global Dental Insurance Shipping Market Competitive Benchmarking
32. Globa Dental Insurance Shipping Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Dental Insurance Shipping Market Future Outlook and Potential Analysis
35. Appendix
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