Dental Insurance Market Size, Share, and Trends 2024 to 2034

Dental Insurance Market Size and Companies

The global dental insurance market size was estimated at US$ 165 billion in 2022 and is expected to hit around US$ 845.43 billion by 2032, growing at a CAGR of 17.8% over the forecast period 2023 to 2032.

Regional Insights

Based on the region, the North American market had the largest market share of 42% during the revent years due to adoption of dental insurance in this region. The second largest market share was held by the European region due to an awareness regarding the dental insurance and the adoption of the same by the people in this region.

The Asia Pacific region is also expected to have significant growth due to an increased awareness regarding the same in the people. Due to an increased disposable income with the rise in awareness towards oral hygiene and health, security standards of the dental insurers and the developments and advancements of medicines for the treatments of the teeth. There's a convergence of dental insurance coverages in the health insurance. According to the Centers for Disease Control and Prevention about 50.2% of the adults in United States have dental care coverage with their health insurance.

Market Overview

Dental insurance is a health care policy that provides reimbursement for dental care and the expenditures incurred on the treatment. The reimbursement is provided by the payment of monthly premiums, partial payments or complete coverage against any of the dental procedures. It extensively covers root canals, fillings, preventative care, tooth extractions or even oral surgeries. Dental insurance policy helps paying for the unexpected dental emergencies. There are indemnity plans and direct reimbursement plans that come under the dental insurance.

Dental insurance is also called as a dental plan. It is a type of health insurance which are designed to take care of the dental health. Various types of insurances are provided like group dental insurance, family dental insurance and individual dental insurance. Due to the pandemic, there was a decline in the growth of this market there was a direct impact due to social distancing restrictions. Lockdown also impacted the movement of consumers and disrupted the businesses worldwide. The utilization of dental oral exams, cleanings, services that needed urgent X-rays had all been postponed due to the coronavirus outbreak.

Growth Factors

Due to the prevalence of various oral disorders like tooth decay, oral cancer, gingivitis, broken teeth the market for the dental insurance is expected to grow. Increased consumption of sugar, change in the diet patterns has raised cavity problems and gum diseases. An increased awareness regarding the adoption of dental insurance in many developed nations has led to the widespread adoption of these insurance policies in order to cover the treatments or expenditures and obtain quality services. In developing nations, the trend for dental insurance is having a slow growth. The developments of customized insurance plans that are more accessible and provide higher quality are expected to help in the growth of the market.

The significant growth in the healthcare industry that provides checkups and implementation of various initiatives by the government to formalize the dental care services in the developed as well as the developing nations is expected to drive the market to growth. Despite the various driving factors, the dental care in emerging as well as underdeveloped economies will hinder the market growth. Due to the high cost associated with the insurance premiums the market mayshow a declining phase. The prevalence of periodontal disease and dental caries will facilitate the demand for dental insurance which will increase gradually. About 3.5 billion people suffer from oral diseases, and approximately 530,000,000 people suffer dental caries of the primary teeth. According to an article by the World Health Organization which stated that the awareness regarding the oral hygiene is vital aspect of human health and it has massively increased the demand for dental hygiene. The implementation of various technologies in the dental insurance market will help in the smooth, clean process and will avoid manual claim settlements which could lead to fraud or error in diagnosis.

Report Scope of the Dental Insurance Market

Coverage Insights

In terms of the coverage, the dental preferred provider organization segment had the largest market share in the year 2022 and is expected to dominate the market during the forecast. It provides financial incentives for the DPPO members to stay in the network, and it is therefore expected to grow during the forecast. That DPPO segment provides the option to the customers to consult any licensed dentist or specialist. In the indemnity dental plans a percentage of the cost of services is paid to the dentist. In the dental health maintenance organization plans there are little or no waiting periods. While covering the major dental work the deep treatment is expected to hold the largest market share because it is cost effective and easy to use.

Procedure Insights

On the basis of the procedure, the dental insurance market can be segmented into preventive, major and basic. The preventive segment is dominated the market with largest revenue share in 2022. The basic procedure segment is expected to have the highest CAGR during the forecast. The various procedures lead dental insurance market. Teeth removal, treatment of the infected nerves, dental surgeries and removal of minor or major oral infections are leading to an adoption of dental insurance, which is expected to help in the market growth.

The basic procedural segment is anticipated to reach U.S. dollars 92 billion by 2023. The preventive segment has dominated the dental insurance market and is expected to maintain the dominance during the forecast period as it helps in providing 100% insurance coverage to the customers.

End User Insights

Due to growing adoption, dental insurance by companies that they provide to their employees, the enterprises segment is expected to grow during the forecast. Apart from enterprises, the individual segment is also expected to have a growth good growth rate During the forecast.

Demographics Insights

On the basis of demographics, the market can be segmented into minors, adults, and senior citizens. The minor segment is expected to have the fastest growth due to the prevalent dental issues in the minors. The adult segment is also expected to grow due to the rising awareness regarding dental insurance amongst them.

Key Market Developments

• Implementation of latest technologies leads to smooth process of claims and thus avoid manual handling of the same to further avoid malpractices and fraud cases.
• ICICI Lombard general insurance company has collaborated with clove dental which is the largest network of oral clinics in India to offer dental insurance.

Dental Insurance Market Players

• Delta Dental
• HDFC ERGO Health Insurance Ltd. (Apollo Munich)
• MetLife Services and Solutions, LLC
• United HealthCare Services, Inc.
• Aetna Inc.
• AFLAC INCORPORATED
• Allianz
• Ameritas
• AXA
• Cigna

Market Segmentation

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Coverage

• Dental Preferred Provider Organizations (DPPO)
• Dental Health Maintenance Organizations (DHMO)
• Dental Indemnity Plans
• Others

By Procedure

• Major
• Basic
• Preventive

By Demographics

• Senior Citizens
• Adults
• Minors

By End User

• Individuals
• Corporates

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of the Middle East & Africa