NEW YORK, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Dental Insurance Market By Insurance Type (Basic/Minor, Major & Preventive), By Mode of Distribution (Corporates, Insurance Agents and Online Channel), and By End-User (Families and Individuals): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021-2027” in its research database.
“According to the latest research study, the demand of global Dental Insurance Market size & share in terms of revenue was valued at USD 168.27 billion in 2020 and it is expected to surpass around USD 289.85 billion mark by 2027, growing at a compound annual growth rate (CAGR) of approximately 10.65% during the forecast period 2021 to 2027.”
What is Dental Insurance? How big is the Dental InsuranceIndustry?
Report Overview:
Dental insurance is a type of medical insurance that only covers a person's dental or oral health and reimburses individuals for any dental charges they incur. Preferred provider organizations (PPO), dental health maintenance organizations (DHMO), and indemnity policies are some of the more comprehensive dental insurance coverage options. Dental insurance can help cover the cost of dental treatment, ranging from fundamental preventative care to significant dental repair, but the specifics of the plan and the coverage it provides determine whether this is the case.
This industry does not include reinsurance of dental plans; however, revenue from all dental insurance providers, such as commercial health insurance, Medicare, and Medicaid, is included. This sector does not include reinsurance of dental plans. The global dental insurance market is growing because of a number of things, such as the high cost of dental procedures, the fast rise of dental problems around the world, and more people becoming aware of how important it is to have dental insurance.
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(A free sample of this report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2021 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 187+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2021
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Market Drivers
- High occurrence of oral ailments to steer the market expansion
Oral disorders are common non-communicable ailments and can impact people throughout their lifespan causing pain as well as discomfort. Many of the oral ailments include tooth decay, oral cancers, periodontal disorders, oro-dental trauma, oral manifestations of HIV, noma, and cleft lip & palate. They account for a large part of the oral ailment burden. All these factors are expected to steer the growth of the dental insurance market over the forecast timeline.
Moreover, escalating cases of oral disorders witnessed among the geriatric population are predicted to generate awareness pertaining to dental insurance among individuals as a result of recurrent dental treatment for oral disorders. This, in turn, will boost market growth trends. Apart from this, high costs of dental treatments are likely to boost the expansion of the dental insurance industry over the forecast timeline. Nevertheless, growing medical tourism activities across the globe will inhibit the growth of the market over the forecast period.
Browse the full “Dental Insurance Market By Insurance Type (Basic/Minor, Major & Preventive), By Mode of Distribution (Corporates, Insurance Agents and Online Channel), and By End-User (Families and Individuals): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021-2027” Report at https://www.fnfresearch.com/dental-insurance-market
Dental Insurance Market: COVID-19 Impact Analysis
During the COVID-19 outbreak, dental insurance providers have been largely affected, which has resulted in massive loss for insurers across the country. This is due to the fact that consecutive lockdowns, social distancing norms, and an increased number of COVID-19 positive cases have all been occurring.
Dental Insurance Market: SegmentationAnalysis
- Basic/Minor segment to dominate the insurance type landscape
The basic/Minor segment is predicted to register the highest growth in terms of both revenue and CAGR. It is likely to record the highest CAGR of nearly 5.6% during the period from 2021 to 2027. The segment offers coverage to major dental problems like emergency care for stainless steel (prefabricated) crowns, root canal treatment, periodontal surgery, periodontal scaling & root planning, routine tooth extractions, pain relief, recementing dental crowns, composite fillings, sedative fillings, and non-routine x-rays.
- Corporates segment to contribute majorly towards the overall market growth
The corporates segment is expected to accrue proceeds worth nearly USD 100 billion by 2027. Moreover, dental insurances are directly purchased by the corporate firms and they are provided in groups in the various corporate offices. In addition to this, corporate dental insurances have become the latest trend. All these aspects will steer the segmental growth over the forecast period.
The global Dental Insurance market is segmented as follows:
By Insurance Type
- Basic/minor
- Major
- Preventive
By Mode of Distribution
- Corporates
- Insurance Agents
- Online Channel
By End-User
- Families
- Individuals
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Competitive Landscape
Some of the main competitors dominating the global Dental Insurance market include -
- 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 Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Dental Insurance market is likely to expand at a CAGR of around 10.65% during the forecast period (2021-2027).
- In terms of revenue, the Dental Insurance market size was valued at around US$ 168.27 billion in 2020 and is projected to reach US$ 289.85 billion by 2027.
- The corporate segment is expected to accrue proceeds worth nearly USD 100 billion by 2027.
- In the coming years, dental insurance companies should benefit from the development of existing goods and services and technological advancements.
- On the basis of geography, approximately 41% of the market was accounted for by the North American region.
Key questions answered in this report:
- What is the market size and growth rate forecast for Dental Insurance industry?
- What are the main driving factors propelling the Dental Insurance Market forward?
- What are the leading companies in the Dental Insurance Industry?
- What segments does the Dental Insurance Market cover?
- How can I receive a free copy of the Dental Insurance Market sample report and company profiles?
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Regional Analysis:
- North America to lead the overall market revenue growth
The regional market expansion is credited to the high presence of the key industry players in the region along with high consciousness pertaining to the advantages of purchasing dental insurance in the region. Apart from this, huge costs of dental treatments in countries like the U.S. have forced people to purchase dental insurance.
Key players involved in dental insurance business include Nippon Life Insurance Company, United HealthCare Services, Inc., Colonial Life & Accident Insurance Company, MetLife Services and Solutions, EnvivasKrankenversicherung AG, Zurich Insurance Company Group, Cigna, Aetna, Inc., American International Group, Inc., AXA, Ameritas Life Insurance Corp., Delta Dental, AFLAC INCORPORATED, LLC (MetLife, Inc.), and Allstate Benefits.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 168.27 Billion |
| Projected Market Size in 2027 | USD 289.85 Billion |
| CAGR Growth Rate | 10.65% CAGR |
| Base Year | 2020 |
| Forecast Years | 2021-2027 |
| Key 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 Insurance Type, By Mode of Distribution, By End-User, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
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Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Insurance Type, Mode of Distribution, End-User, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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