The global dental insurance market size was estimated to be USD 212.48 billion in 2023 and is expected to reach at USD 573.71 billion by 2034 with a CAGR of 9.45% during the forecast period 2024-2034. Growing awareness regarding dental care, surge in prevalence of dental health issues, an cost of therapy has increased, lack dental insurance among adult population, rising technological advancement, numerous companies in the market are implementing a variety of strategic initiatives to enhance and solidify their market presence, growing dental insurance reimbursements, and surge in introduction of dental insurance plans are some of the key factors boosting the market growth.
Surge in introduction of dental insurance plans is predicted to boost the market growth during the forecast period. The move towards SaaS and cloud-based solutions, rather than traditional legacy systems, has the potential to transform the environment for health and dental insurance providers. This change removes the need for managing on-site servers, leading to cost reductions and better access to information. Additionally, it promotes cooperation, scalability, effortless integrations, streamlined updates, and improved user-friendliness. Together, these benefits offer an enhanced experience for both patients and healthcare professionals. For instance, in August 2023, Ameritas has introduced a novel feature in its recently launched group dental plans: a Lifetime Deductible Option. This change guarantees that once members reach their deductible threshold, they won't have to worry about meeting it again, even if they continue to work for the same employer.
By coverage, dental preferred provider organizations (DPPO) was the highest revenue-grossing segment in the global dental insurance market in 2023. DPPOs typically maintain a network of dentists who have agreed to offer services to plan members at reduced rates. This arrangement can result in lower out-of-pocket costs for consumers compared to copays or standard medical bills. Many individuals opt for DPPO plans to save on dental care expenses. These plans often provide a billing schedule that details the costs of specific procedures, which is advantageous for consumers as it helps them better anticipate and plan their dental expenses. For instance, in December 2022, Bupa and YuLife have unveiled a partnership that allows group clients to incorporate dental insurance as a choice for their workforce. Bupa's dental coverage is now available as an add-on option within YuLife's group life insurance offerings, serving both existing and potential clients. Additionally, dental health maintenance organizations (DHMO) is predicted to grow at fastest CAGR during the forecast period. DHMO (Dental Health Maintenance Organization) plans frequently feature lower monthly premiums when compared to other dental insurance alternatives such as dental indemnity plans. This cost-effectiveness can make DHMO plans an appealing option for individuals and families seeking dental coverage while aiming to keep their expenses within budget.
By type, preventive was the highest revenue-grossing segment in the global dental insurance market in 2023. Dental prevention plans typically prioritize routine checkups, cleanings, and early intervention for dental issues. This approach motivates policyholders to preserve their oral health by attending regular dental appointments. Moreover, premiums for preventive dental insurance plans are usually more budget-friendly compared to comprehensive or primary dental insurance plans. This cost-effectiveness enhances their appeal to many individuals and families, thus broadening their market popularity. Additionally, basic is predicted to grow at fastest CAGR during the forecast period. Basic plans are typically the most cost-effective choices accessible to consumers. They provide fundamental services or products at a reduced price, making them attainable for a more extensive customer base, including those with constrained budgets. Furthermore, Basic plans serve as introductory options for customers who are new to a specific product or service category. For instance, in June 2022, Bajaj Allianz has teamed up with Allianz Partners to introduce "Global Health Care," a health coverage offering that extends across the globe. This product provides one of the most extensive Sum Insured ranges in the Indian market, ranging from USD 100,000 to USD 1,000,000. It comes with two plan options: the 'Imperial Plan' and the 'Imperial Plus Plan,' which include coverage for both international and domestic health needs.
By demographic, senior citizens was the highest revenue-grossing segment in the global dental insurance market in 2023 owing to the expanding aging population, a result of increased life expectancy. Additionally, as individuals age, they become more susceptible to dental health problems like gum disease, tooth decay, and tooth loss. Consequently, there is a heightened demand for dental insurance to assist in covering the expenses related to preventive care, restorative procedures, and dental treatments. Additionally, adult is predicted to grow at fastest CAGR during the forecast period. Numerous countries are experiencing aging populations, characterized by a significant portion of adults in their 50s and beyond. With advancing age, individuals typically require more extensive dental care, encompassing preventive, restorative, and potentially major dental procedures. This escalating demand for dental services among older adults contributes to the expansion of the dental insurance sector. For instance, in January 2022, Aetna is making Medicare Advantage Prescription Drug (MAPD) plans available in 46 states. Aetna has expanded its coverage to encompass 83 new counties, thereby granting an extra 1 million Medicare beneficiaries the opportunity to choose an Aetna plan. This brings the total count of counties with Aetna MAPD plans to 1,875 in 2022, making them accessible to 53.2 million Medicare beneficiaries.
North America region is predicted for the highest revenue share during the forecast period. North America boasts a substantial and relatively prosperous population, with the United States, in particular, having a significant middle-class demographic that can afford dental insurance premiums. This establishes a considerable customer base for dental insurance providers in the region. Furthermore, in the U.S., numerous employers include dental insurance in their employee benefits packages, which motivates a substantial portion of the population to obtain dental insurance coverage. Increasing collaborations within market players is also predicted to boost the market expansion. For instance, in November 2022, VillageMD has acquired Summit Health-CityMD, resulting in the formation of one of the foremost independent provider groups in the United States. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness of the significance of dental health. People are increasingly proactive about preserving their oral health, which involves scheduling regular dental check-ups and preventive care. This heightened awareness fuels the demand for dental insurance to help offset the expenses associated with these preventive measures. Growing initiatives by leading market players is also anticipated to boost the market growth. For instance, in May 2022, PNB MetLife India Insurance Company has introduced a dental health insurance plan in India. This insurance policy covers fixed-benefit outpatient costs and provides financial assistance for a range of dental health-related expenses.
Surge in introduction of dental insurance plans is predicted to boost the market growth during the forecast period. The move towards SaaS and cloud-based solutions, rather than traditional legacy systems, has the potential to transform the environment for health and dental insurance providers. This change removes the need for managing on-site servers, leading to cost reductions and better access to information. Additionally, it promotes cooperation, scalability, effortless integrations, streamlined updates, and improved user-friendliness. Together, these benefits offer an enhanced experience for both patients and healthcare professionals. For instance, in August 2023, Ameritas has introduced a novel feature in its recently launched group dental plans: a Lifetime Deductible Option. This change guarantees that once members reach their deductible threshold, they won't have to worry about meeting it again, even if they continue to work for the same employer.
By coverage, dental preferred provider organizations (DPPO) was the highest revenue-grossing segment in the global dental insurance market in 2023. DPPOs typically maintain a network of dentists who have agreed to offer services to plan members at reduced rates. This arrangement can result in lower out-of-pocket costs for consumers compared to copays or standard medical bills. Many individuals opt for DPPO plans to save on dental care expenses. These plans often provide a billing schedule that details the costs of specific procedures, which is advantageous for consumers as it helps them better anticipate and plan their dental expenses. For instance, in December 2022, Bupa and YuLife have unveiled a partnership that allows group clients to incorporate dental insurance as a choice for their workforce. Bupa's dental coverage is now available as an add-on option within YuLife's group life insurance offerings, serving both existing and potential clients. Additionally, dental health maintenance organizations (DHMO) is predicted to grow at fastest CAGR during the forecast period. DHMO (Dental Health Maintenance Organization) plans frequently feature lower monthly premiums when compared to other dental insurance alternatives such as dental indemnity plans. This cost-effectiveness can make DHMO plans an appealing option for individuals and families seeking dental coverage while aiming to keep their expenses within budget.
By type, preventive was the highest revenue-grossing segment in the global dental insurance market in 2023. Dental prevention plans typically prioritize routine checkups, cleanings, and early intervention for dental issues. This approach motivates policyholders to preserve their oral health by attending regular dental appointments. Moreover, premiums for preventive dental insurance plans are usually more budget-friendly compared to comprehensive or primary dental insurance plans. This cost-effectiveness enhances their appeal to many individuals and families, thus broadening their market popularity. Additionally, basic is predicted to grow at fastest CAGR during the forecast period. Basic plans are typically the most cost-effective choices accessible to consumers. They provide fundamental services or products at a reduced price, making them attainable for a more extensive customer base, including those with constrained budgets. Furthermore, Basic plans serve as introductory options for customers who are new to a specific product or service category. For instance, in June 2022, Bajaj Allianz has teamed up with Allianz Partners to introduce "Global Health Care," a health coverage offering that extends across the globe. This product provides one of the most extensive Sum Insured ranges in the Indian market, ranging from USD 100,000 to USD 1,000,000. It comes with two plan options: the 'Imperial Plan' and the 'Imperial Plus Plan,' which include coverage for both international and domestic health needs.
By demographic, senior citizens was the highest revenue-grossing segment in the global dental insurance market in 2023 owing to the expanding aging population, a result of increased life expectancy. Additionally, as individuals age, they become more susceptible to dental health problems like gum disease, tooth decay, and tooth loss. Consequently, there is a heightened demand for dental insurance to assist in covering the expenses related to preventive care, restorative procedures, and dental treatments. Additionally, adult is predicted to grow at fastest CAGR during the forecast period. Numerous countries are experiencing aging populations, characterized by a significant portion of adults in their 50s and beyond. With advancing age, individuals typically require more extensive dental care, encompassing preventive, restorative, and potentially major dental procedures. This escalating demand for dental services among older adults contributes to the expansion of the dental insurance sector. For instance, in January 2022, Aetna is making Medicare Advantage Prescription Drug (MAPD) plans available in 46 states. Aetna has expanded its coverage to encompass 83 new counties, thereby granting an extra 1 million Medicare beneficiaries the opportunity to choose an Aetna plan. This brings the total count of counties with Aetna MAPD plans to 1,875 in 2022, making them accessible to 53.2 million Medicare beneficiaries.
North America region is predicted for the highest revenue share during the forecast period. North America boasts a substantial and relatively prosperous population, with the United States, in particular, having a significant middle-class demographic that can afford dental insurance premiums. This establishes a considerable customer base for dental insurance providers in the region. Furthermore, in the U.S., numerous employers include dental insurance in their employee benefits packages, which motivates a substantial portion of the population to obtain dental insurance coverage. Increasing collaborations within market players is also predicted to boost the market expansion. For instance, in November 2022, VillageMD has acquired Summit Health-CityMD, resulting in the formation of one of the foremost independent provider groups in the United States. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness of the significance of dental health. People are increasingly proactive about preserving their oral health, which involves scheduling regular dental check-ups and preventive care. This heightened awareness fuels the demand for dental insurance to help offset the expenses associated with these preventive measures. Growing initiatives by leading market players is also anticipated to boost the market growth. For instance, in May 2022, PNB MetLife India Insurance Company has introduced a dental health insurance plan in India. This insurance policy covers fixed-benefit outpatient costs and provides financial assistance for a range of dental health-related expenses.
Segmentation: Dental Insurance Market Report 2023 - 2034
Dental Insurance Market Analysis & Forecast by Coverage 2023 - 2034 (Revenue USD Bn)
- Dental Health Maintenance Organizations (DHMO)
- Dental Indemnity Plans
- Dental Preferred Provider Organizations (DPPO)
- Others
Dental Insurance Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Preventive
- Major
- Basic
Dental Insurance Market Analysis & Forecast by Demographic 2023 - 2034 (Revenue USD Bn)
- Minors
- Adults
- Senior Citizens
Dental Insurance Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Dental Insurance Market: Coverage Estimates & Trend Analysis
8. Dental Insurance Market: Type Estimates & Trend Analysis
9. Dental Insurance Market: Demographic Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Dental Insurance Market
12. Europe Global Dental Insurance Market
13. Asia Pacific Global Dental Insurance Market
14. Latin America Global Dental Insurance Market
15. MEA Global Dental Insurance Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Ameritas Life Insurance Corp
- AXA
- HDFC Ergo Health Insurance Ltd
- AFLAC Inc
- Metlife Services & Solutions
- United Concordia
- United HealthCare Services Inc.
- Allianz SE
- Delta Dental Plans Association
- Cigna
- Aetna
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 212.48 Billion |
| Forecasted Market Value ( USD | $ 573.71 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
