NEW YORK, United States, 03 Feb. Feb. 2, 2022 (GLOBE NEWSWIRE) — Facts and Factors has released a new research report titled “Dental Insurance Market by Insurance Type (Basic/Minor, Major, and Preventive), by Distribution Mode (Corporate, Insurance Agents, and Online Channel), and by End User (Families and Individuals): Global Perspective Industry, Comprehensive Analysis and Forecast, 2021-2027 » in its research database.
“According to the latest research study, the demand for Dental insurance market size & share was valued at approximately $168.27 billion in 2020 and is expected to reach a value of approximately $289.85 billion by 2027, at a compound annual growth rate (CAGR) by around 10.65% between 2021 and 2027.”
The report examines the dental insurance market drivers and restraints and their impact on the demand over the forecast period. Additionally, the report analyzes the global opportunities in the dental insurance market.
What is dental insurance? How big is the dental insurance market?
- Dental Insurance Market Report Overview:
Dental insurance only covers a person’s dental health or oral health and reimburses dental expenses incurred by patients. Some of the major plans covered by dental insurance are Preferred Provider Organizations (PPOs), Dental Health Maintenance Organizations (DHMOs), and Indemnity Policies. Depending on the type and extent of insurance plan, dental insurance can help cover the costs of dental care, ranging from basic preventative care to comprehensive dental care.
This industry does not include reinsurance of dental plans; however, earnings from all dental insurance providers, including commercial health insurance, Medicare, and Medicaid, are included. Dental procedures are very expensive, dental problems are growing rapidly in the world, and dental insurance is becoming more widely known, which is driving the expansion of the global dental insurance market.
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Our free sample report includes the following:
- Introduction, overview and in-depth industry analysis are all included in the 2021 updated report.
- Impact analysis of the COVID-19 outbreak is included in the package
- About 187+ page research report (including recent research)
- Provide detailed chapter-by-chapter guidance upon request
- Updated regional analysis with graphical representation of size, share and trends for the year 2021
- Tables and figures have been updated
- The latest version of the report includes major market players, their business strategies, sales volume, and revenue analysis.
- Methodology for finding facts and factors
(Please note that the sample for this report has been modified to include the COVID-19 impact study before delivery.)
Market growth dynamics:
Dental insurance Industry Drivers:
- High Presence of Oral Conditions to Drive Market Expansion
Oral disorders are common non-communicable conditions and can affect people throughout their lives, causing pain and discomfort. Most oral conditions include tooth decay, oral cancers, periodontal disorders, oral trauma, oral manifestations of HIV, noma, and cleft lip and palate. They represent a large part of the burden of oral diseases. All these factors are expected to drive the growth of the dental insurance market over the forecast period.
Additionally, the increase in cases of oral disorders observed among the geriatric population is expected to generate awareness regarding dental insurance among individuals following recurrent dental treatment for oral disorders. This, in turn, will boost market growth trends. Apart from this, high dental treatment costs are likely to drive the expansion of the dental insurance industry during the forecast period. Nevertheless, growing medical tourism business across the globe will inhibit the market growth over the forecast period.
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Key Industry Market Players
- Aetna Inc.
- Afla Incorporated
- Delta Dental
- HDFC ERGO Health Insurance Ltd (Apollo Munich)
- MetLife Services and Solutions
- United HealthCare Services Inc.
- Market Size, Overview, Trends and Forecast by Revenue | 2021−2027
- Market dynamics – key trends, growth drivers, restraints and opportunities for investment
- Market segmentation – A detailed analysis by type of insurance, by mode of distribution, by end user and by region
- Competitive Landscape – Top Key Suppliers and Other Significant Suppliers
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|Market size in 2020||$168.27 billion|
|Forecast market size in 2027||$289.85 billion|
|CAGR growth rate||CAGR of 10.65%|
|Main market players||Aetna Inc., Aflac Incorporated, Ameritas, Allianz, AXA, Cigna, Delta Dental, Envivas, Humana, HDFC ERGO Health Insurance Ltd. (Apollo Munich), MetLife Services and Solutions, LLC, OneExchange, 3M, United HealthCare Services, Inc., and others/among others|
|key segment||By type of insurance, by distribution method, by end user and by region|
|Main regions covered||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Purchase options||Request custom purchase options to meet your research needs.|
- Basic/minor segment to dominate the landscape of insurance types
The basic/minor segment is expected to register the highest growth in terms of revenue and CAGR. It is likely to register the highest CAGR of nearly 5.6% during the period of 2021 to 2027. The segment provides coverage for major dental issues such as emergency treatment for stainless steel crowns (precast), root canal treatment, periodontal surgery, periodontal scaling and root. planning, routine tooth extractions, pain relief, cementation of dental crowns, composite fillings, sedative fillings and non-routine x-rays.
- The enterprise segment will mainly contribute to the overall market growth
The corporate segment is expected to bring in nearly $100 billion by 2027. Additionally, dental insurances are purchased directly by the companies and they are provided in groups at the various head offices. In addition to this, corporate dental insurance has become the latest trend. All these aspects will guide the segmental growth during the forecast period.
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Answers to key questions in this report:
- What is the size of the dental insurance market and what is its expected growth rate?
- What are the major driving factors propelling the dental insurance market forward?
- What are the main companies in the dental insurance industry?
- What segments does the market cover?
- North America leads overall market revenue growth
The expansion of the regional market is attributed to the strong presence of key industry players in the region along with a high awareness of the benefits of buying dental insurance in the region. Apart from this, the huge costs of dental treatment in countries like the United States has forced people to purchase dental insurance.
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This report segments the global dental insurance market as follows:
By Insurance Type, market is segmented into:
By Distribution Mode, market is segmented into:
- Insurance agents
- online channel
By End User, the market is segmented into:
By Region, market is segmented into:
- North America
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- The Middle East and Africa
Key insights from primary research
- According to the study, the dental insurance market is likely to grow at a pace CAGR of around 10.65% between 2021 and 2027.
- The dental insurance market was worth approximately US$168.27 billion in 2020 and should cross approximately $289.85 billion by 2027.
- Based on the insurance type segment, the basic/minor segment will dominate the world.
- Based on the distribution mode segment, business segment to drive the overall market growth.
- Based on region, North America will lead the overall market revenue growth.
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