Home Healthcare IT Dental Insurance Market Trends, Growth & Revenue Analysis Report | 2032

Dental Insurance Market

Dental Insurance Market Size, Share & Trends Analysis Report By Coverage (Dental Preferred Provider Organizations (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, Others), By Type (Major, Basic, Preventive), By Demographic (Senior Citizens, Adults, Minors), By End-User (Individuals, Corporates) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRHI54194DR
Study Period 2020-2032 CAGR 10.42%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 150.65 billion
Forecast Year 2032 Forecast Year Market Size USD 333.92 billion
Largest Market North America Fastest Growing Market Europe
The sample report only takes 30 secs to download, no need to wait longer.

Market Overview

The global dental insurance market size was valued at USD 150.65 billion in 2023. It is expected to reach USD 333.92 billion in 2032, growing at a CAGR of 10.42% over the forecast period (2024-32). Rising dental care costs, including routine check-ups, treatments, and procedures, drive the demand for dental insurance. Dental insurance helps individuals and families manage and mitigate out-of-pocket expenses related to dental care, making it an essential financial tool for accessing affordable dental services.

A dental insurance policy is a contract that protects a person's oral health and nothing else. Insurers have streamlined their product lines and made them easier to understand by providing selective coverages and the ability to compare the costs and benefits of multiple dental procedures. In addition, dental insurance reimburses several dental costs incurred by patients, and insurers have benefited from the increase in the number of high-income individuals, the growth in per capita earnings, and the increase in the size of the working class.

Market Dynamics

What are the Primary Factors driving the Market for Dental Insurance?

Increase in Awareness of the Oral Hygiene

The need for dental hygiene services has skyrocketed as people have become increasingly aware of the need to maintain good oral health. As a result, more people need dental insurance, which is helping to fuel the industry's expansion. In addition, dental insurance pays for a wide variety of services, such as the drainage of minor oral infections, the treatment of diseased nerves, the extraction of teeth, and other minor surgical procedures. Thus, the rising need for dental care has led to a dramatic rise in the general public's understanding of the importance of maintaining good oral health, stimulating the expansion of the dental insurance sector.

What are the Main Factors that will slow down the Market for Dental Insurance?

Convergence of Dental and Health Insurance

The standalone dentistry industry is under threat as more and more health insurers include dental benefits in their coverage. Furthermore, the market for dental insurance is seeing significant rivalry, which is expected to hinder market growth as dental insurance coverages increasingly converge with health insurance plans. Furthermore, the market momentum for bundling dental insurance with healthcare plans is being stifled by the fact that health insurance plans have their own competitive landscape with specific products for dental coverage in the market.

What are the Future Opportunities for Dental Insurance?

Implementation of Technologies within Existing Products

The market for dental insurance shows tremendous growth potential for the current goods and services. It is because, with the help of cutting-edge technologies like machine learning and AI-powered chatbots for dental insurance coverages, insurers can deliver additional value to their consumers and broaden the scope of the products and services they offer. There is less likelihood of insurance fraud, overdiagnosis, and diagnostic errors thanks to the use of technology to provide a more streamlined claim procedure and eliminate the need for manual claim settlement processes. Consequently, dental insurance companies should anticipate fruitful prospects due to the development and implementation of new technologies and the growth of existing products and services in the following years.

Regional Analysis

North America Dominates the Global Market

The global market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America is the most significant shareholder in the global dental insurance market. By making it simple for their clients to get the answers they need, North American insurance companies offer comprehensive dental plans with cutting-edge benefits. Moreover, Canadians rely heavily on private insurance, employer-based insurance plans, government programs, and self-payment regarding dental care. Because of these causes, the dental insurance industry is seeing unprecedented growth and expansion, which is good news for the millions of Americans with dental coverage. In addition, 35% of Americans lack dental coverage, although just 15% are uninsured. Because of this, promising business prospects should arise for the country's insurers.

Europe is expected to grow during the forecast period. Various European markets are examined, including those in Germany, the United Kingdom, France, Spain, the Netherlands, and elsewhere in Europe. In Europe, the rate of dental service utilization is approximately 82%, with nearly 70% of the cost covered by statutory and private health insurance funds. As a result, this is quickly becoming one of the region's most prominent movements. Spain's private supplementary insurance market provides access to dental care for those who cannot or do not wish to use the public health system.

Emerging economies, rising public awareness of the need for dental insurance, and the increasing prevalence of dental practices that use technological services have all contributed to the region's rapid expansion. There has also been an uptick in using artificial intelligence (AI) in chatbots, machine learning, and computer vision AI. However, growth in the application of technologies by insurers to improve traditional dental insurance is becoming one of the region's significant trends, delivering improved underwriting processes and speeding up the seamless processing of claims and documentation.

The LAMEA market research covers the whole of Latin America, the Middle East, and Africa. The Middle Eastern region's dental insurance market is projected to expand the fastest over the forecast period. Private insurers are pivotal in supplying dental insurance in Latin America, but their coverage options are limited and standardized. Dentists in the region may not be as well-known as doctors in other parts of the country, and patients may be less willing to spend money on dental care.

Report Scope

Report Metric Details
By Coverage
  1. Dental Preferred Provider Organizations (DPPO)
  2. Dental Health Maintenance Organizations (DHMO)
  3. Dental Indemnity Plans
  4. Others
By Type
  1. Major
  2. Basic
  3. Preventive
By Demographic
  1. Senior Citizens
  2. Adults
  3. Minors
By End-User
  1. Individuals
  2. Corporates
Company Profiles Aetna Inc.  Aflac Inc.  Allianz SE  Ameritas Life Insurance Corp.  Axa S.A.  MetLife Inc.  United Concordia  United HealthCare Services Inc. Centene Ping An Insurance Bajaj Allianz Health Care  Delta Dental HDFC ERGO Health Insurance Ltd. (Apollo Munich) Humana Niva Bupa
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Segmental Analysis

The global market is segmented by coverage, type, demographic, and end-user.

Based on coverage, the global market is bifurcated into dental preferred provider organizations, dental health maintenance organizations, dental indemnity plans, and others.

The dental preferred provider organizations segment is the highest contributor to the market. Subscribed patients might receive discounted dental care through a dental-preferred provider organization (DPPO). Furthermore, compared to dental health maintenance organization plans, this one is more all-encompassing and provides access to a broader network of providers. The primary market trends now include an uptick in the use of services provided outside of the provider's network and a general drop in the amount spent on dental care that this particular plan covers. One major factor propelling the dental insurance industry is the increased provider choice made possible by DPPOs.

Based on type, the global market is bifurcated into major, basic, and preventive.

The preventive segment is the highest contributor to the market. Avoiding dental issues, including cavities, gum disease, and worn enamel, is covered by preventative health insurance. The rising need for dental insurance, which falls mainly under the preventative insurance category, is a crucial factor propelling the industry forward. And the need for preventive insurance is fueled by the many types of preventive dentistry that promote ideal oral health coverages, advocate dental hygiene practices, and keep teeth clean, strong, and white.

Based on demographic, the global market is bifurcated into senior citizens, adults, and minors.

The adult segment is the highest contributor to the market. Due to the growing number of older people choosing to keep their natural teeth as they age, there has been a dramatic increase in the demand for dental insurance among this demographic. It is significant because of the prevalence of dental insurance coverage among health insurance plans for adults offered by corporations and businesses. Additionally, dental insurers are increasing the mandates for dental benefit coverage due to shifting trends of dental care needs & services among adults, fueling the expansion of this market segment.

Based on end-user, the global market is bifurcated into individuals and corporates.

The corporate segment is the highest contributor to the market. Companies, often on a global scale, can afford to provide their employees with dental coverage through their health insurance plans. Many businesses offer these protections as a benefit to their employees, and prospective workers actively look for them in prospective employers. Companies are improving their health insurance coverages by adding dental plans and other distinctive coverages because they are legally required to provide certain employee benefits, such as workers' compensation, health insurance plans, and disability. Because of this, the market for dental insurance is expanding rapidly.

Market Size By Coverage

Market Size By Coverage
  • Dental Preferred Provider Organizations (DPPO)
  • Dental Health Maintenance Organizations (DHMO)
  • Dental Indemnity Plans
  • Others
  • Recent Developments

    • June 2024 - Canadian families with children under the age of 18 can be qualified for the new Canada Dental Care Plan (CDCP). As is frequently provided by employment benefits for full-time workers, the CDCP intends to lessen the financial burden of paying for dental treatment out of pocket for people below a specific income threshold without a private dental plan. The strategy is being implemented gradually.
    • May 2024 - The Canadian government is commemorating important advancements in improving oral healthcare's affordability and accessibility. Two million seniors in Canada will have been granted coverage under the Canadian Dental Care Plan (CDCP) this week, May 2024. Approximately 90,000 seniors have already benefited from care from approximately 10,000 participating providers.

    Key Players

    Dental Insurance Market Share of Key Players

    Dental Insurance Market Share of Key Players
    Aetna Inc.  Aflac Inc.  Allianz SE  Ameritas Life Insurance Corp.  Axa S.A.  MetLife Inc.  United Concordia  United HealthCare Services Inc. Centene Ping An Insurance Bajaj Allianz Health Care  Delta Dental HDFC ERGO Health Insurance Ltd. (Apollo Munich) Humana Niva Bupa Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the dental insurance market?
    The global dental insurance market growing at a CAGR of 10.42% from (2023–2031).
    Increase in awareness of the oral hygiene are the major growth factors of the dental insurance market.
    The dental preferred provider organizations segment is the leading segment for the market during forecast period.
    Aetna Inc., Aflac Inc., Allianz SE, Ameritas Life Insurance Corp., Axa S.A., Cigna, Delta Dental Plans Association, MetLife Inc., United Concordia, and United HealthCare Services Inc. are the prominent players in the dental insurance market.

    We are featured on :