Dental Insurance Market has generated a revenue of USD 165 billion in the current year and is poised to achieve a CAGR of 9% for the forecast period.
Dental insurance is coverage protection for dental treatments. A dental insurance policy is designed to pay a portion of the costs associated with the treatment of dental conditions and preventive dental care. It helps in paying for unexpected dental emergencies that may be expensive to fix.
Developing economies are now getting concerned about oral health and the demand for dental care is emerging.
Various factors are leading to the growth of the dental insurance market such as rising disposal income, awareness of aesthetics, and rising frequent case of oral diseases such as gingivitis, tooth decay, oral cancer, etc.
During the COVID-19 outbreak, dental insurance providers have been largely affected, which has resulted in massive losses for insurers across the world due to consecutive lockdowns, social distancing norms, and an increased number of COVID-19-positive cases. The market for dental insurance is slowly grown after the pandemic. Increased awareness regarding the adoption of dental insurance in many developed nations has led to the widespread adoption of insurance policies.
The importance of oral care and oral care products has grown tremendously in recent years due to increasing awareness among consumers and the knowledge about oral hygiene has increased not only in developing countries but also in underdeveloped countries.
In addition, the rise in initiatives and support from the government has helped the insurers to avail of dental insurance coverages with more alternatives & customized options in the market. The Indian government has launched a scheme “Ayushman Bharat”, an initiative that covers dental insurance and aims at availing dental services to a large population base in the country.
Dental insurance is coverage protection for dental treatments. A dental insurance policy is designed to pay a portion of the costs associated with the treatment of dental conditions and preventive dental care. It helps in paying for unexpected dental emergencies that may be expensive to fix.
Developing economies are now getting concerned about oral health and the demand for dental care is emerging.
Various factors are leading to the growth of the dental insurance market such as rising disposal income, awareness of aesthetics, and rising frequent case of oral diseases such as gingivitis, tooth decay, oral cancer, etc.
During the COVID-19 outbreak, dental insurance providers have been largely affected, which has resulted in massive losses for insurers across the world due to consecutive lockdowns, social distancing norms, and an increased number of COVID-19-positive cases. The market for dental insurance is slowly grown after the pandemic. Increased awareness regarding the adoption of dental insurance in many developed nations has led to the widespread adoption of insurance policies.
Dental Insurance Market Trends
Rising Awareness about Oral Health is Expected to boost growth of Dental Insurance Industry
Dental diseases are a significant public health burden across the globe causing major health problems in many nations, causing pain, discomfort, and disfigurement, WHO recognizes oral health as an integral part of general health.The importance of oral care and oral care products has grown tremendously in recent years due to increasing awareness among consumers and the knowledge about oral hygiene has increased not only in developing countries but also in underdeveloped countries.
Government Initiatives and Policies helps in the Growth of Dental Insurance Industry
The government is supporting the dental Insurance company by providing the protection of dental insurers against fluctuations in revenues, prices, and yields fuels the growth of the dental insurance market.In addition, the rise in initiatives and support from the government has helped the insurers to avail of dental insurance coverages with more alternatives & customized options in the market. The Indian government has launched a scheme “Ayushman Bharat”, an initiative that covers dental insurance and aims at availing dental services to a large population base in the country.
Dental Insurance Market Competitor Analysis
Global Dental Insurance is mainly fragmented and is stepping towards consolidation. Some of the key players operating in the global dental insurance market include Aetna Inc, AFLAC Inc, Allianz SE, Ameritas Mutual Holding Company, AXA, Cigna, HDFC ERGO Health Insurance Ltd, MetLife Services and Solutions, and Delta Dental Plan Association.Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Aetna
- AFLAC Inc
- Allianz SE
- Ameritas Life Insurance Corp
- AXA
- Cigna
- Delta Dental Plans Association
- Metlife Services & Solutions
- United HealthCare Services Inc.
- United concordia
- HDFC Ergo Health Insurance Ltd
Methodology
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