Drivers, restraints, and opportunities
Increase in awareness toward oral hygiene, surge in support from various governments across the globe, and protection of dental insurers against fluctuations in revenues have boosted the growth of the global dental insurance market. However, tough profit margins, rise in advancements and developments of medicines for dental treatments, and increase in convergence of dental & health insurance hinder the market growth. On the contrary, implementation of technologies including artificial intelligence, data analytics, and cloud computing is expected to create lucrative opportunities for the market players in the coming years.
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- As the
U.S.economy is recovering from the Covid-19 pandemic, the dental practice activity in terms of patient volume and practice employment has increased.
- However, the repercussions of the Covid-19 outbreak are still not clear. In addition, there is a threat of the second wave of Covid-19, which could cause relapse in the dental economy.
- In addition, the sale of dental insurance premium is expected to decrease due to decrease in disposable income and reduced consumer dental spending.
The dental preferred provider organizations (DPPO) segment dominated the market
By coverage, the dental preferred provider organization (DPPO) segment dominated the market in 2019, accounting for nearly three-fifths of the global dental insurance market, as it operates with a large network and provides more flexibility. However, the dental indemnity plans segment is expected to manifest the highest CAGR of 16.2% during the forecast period, as it covers most preventive & diagnostic services at a competitive rate and covers specialized treatments such as endodontists and prosthodontists.
The individual segment to manifest the highest CAGR of 12.1% through 2027
By end user, the individuals segment is expected to portray the highest CAGR of 12.1% during the forecast period, due to purchases for dental insurance are highly expensive, and coverages largely depend on an age group of individuals. However, the corporates segment held the largest share in 2019, accounting for more than two-thirds of the global dental insurance market, as employers are lawfully required to offer certain employee benefits such as health insurance plans, workers' compensation, and disability.
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By region, the global dental insurance market across
Major market players
- AFLAC INCORPORATED
- Delta Dental
MetLife Services and Solutions, LLC HDFC ERGO Health Insurance Ltd.( Apollo Munich) United HealthCare Services, Inc.
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