New York, USA, June 08, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global dental tourism market is projected to generate a revenue of $21,544.1 million and grow at a fascinating CAGR of 13.9% during the forecast period from 2022 to 2031.
As per our analysts, the rising dental problems and tooth loss concerns among individuals, especially in the elderly population, are expected to foster the growth of the dental tourism market over the analysis timeframe. Besides, the rising affordability and easy accessibility of high-quality healthcare services and the availability of the latest medical technologies in dental tourism hubs are predicted to uplift the growth of the market during the estimated period. Moreover, the increasing technical developments in the medical sector including surgical techniques, dental equipment, telemedicine, and many more can provide value-based care to individuals globally which is expected to create wider growth opportunities for the dental tourism market in the coming period. However, the travel restrictions caused due to the pandemic may impede the market growth over the forecast period.
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Segments of the Dental Tourism Market
The report has divided the market into segments based on service, provider, and region.
Service: Dental Cosmetics Sub-Segment to be Most Productive
The dental cosmetics sub-segment is expected to have the fastest growth over the estimated timeframe. This is mainly due to the rising prevalence of dental disorders such as gum disease, dental cavities, tooth decay, and many more among individuals, and the growing geriatric population across the globe. Moreover, the increasing technological advancements in cosmetic dentistry such as the availability of CAD-CAM systems are expected to magnify the growth of the market sub-segment during the analysis period.
Provider: Dental Clinics Sub-Segment to be Most Profitable
The dental clinics sub-segment held the highest market share in 2021 and is expected to have lucrative growth during the forecast period. This is mainly due to the growing number of independent dentistry clinics across the world. In addition, the increasing demand for cost-effective treatments and the increased competition among providers is expected to fuel the growth of the market sub-segment over the estimated period.
Region: Asia-Pacific Market Held the Maximum Market Share in 2021
The Asia-Pacific region of the dental tourism market held the dominant market share in 2021. This is majorly because of the strong existence of superior infrastructure for dental treatment and the availability of dentists with rich experience. Moreover, the increasing number of patients traveling to this region for medical treatment because of the availability of low-cost facilities is expected to drive the regional growth of the market over the analysis period.
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Covid-19 Impact on the Dental Tourism Market
The outbreak of the Covid-19 pandemic has had a negative impact on the dental tourism market, likewise various other industries. This is mainly due to the disruption in supply chains, movement restrictions, and travel bans during the pandemic period. However, the increasing government initiatives to reintroduce dental tourism across several countries post-pandemic are expected to bring numerous growth opportunities for the market in the analysis period.
Key Players of the Dental Tourism Market
The major players of the market include
- Oris Dental Centre
- Dubai Dental Hospital
- Raffles Medical Group
- Imperial Dental Specialist Center
- Medlife Group
- Liberty Dental Clinic
- Clove Dental
- ThantakIt International Dental Center
- Fortis Healthcare
- Apollo Hospitals Enterprise Ltd.
- ARC Dental Clinic
- Franco-Vietnamese Hospital
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
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For instance, in November 2021, Prevest DenPro, a leading dental materials manufacturer launched three ingenious biomaterials in the dental healthcare sector. The motive behind launching these products is to develop innovative dental products indigenously.
Further, the report also summarizes other crucial aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Dental Tourism Market:
- How does Dental Tourism Allow Individuals to Avail High-Quality Dental Care without Breaking the Bank?
- Increasing Dental Issues and Tooth Loss Concerns among Individuals Globally Expected to Propel the Growth of the Global Dental Tourism Market by 2031
