Dental insurance is a form of health insurance or a stand-alone policy, which covers risks related to teeth & gum diseases, extractions, fillings, root canal, preventative care, and annual cleanings. In addition, it is designed to pay a portion of costs associated with preventive, minor, and some major dental care. Dental insurance covers costs depending on particular treatments, and monthly premiums are based on the insurance company, location, and chosen plan. Moreover, dental care costs and industry revenue are typically more stable than medical costs. Furthermore, the insurance largely focuses on covering regular maintenance and preventative oral health treatments in the market.
Rise in awareness toward oral hygiene, which has become one of the important aspects of human health, has resulted in a massive demand for dental hygiene. In addition, rise in government initiatives & support toward policyholders to help them avail dental insurance coverages with more alternatives & customized options also fuel growth of the dental insurance market. However, rise in convergence of dental insurance coverages in health insurance plans and increase in advancements & developments of medicines for dental treatments lead to decline in demand for dentistry services gradually, which limits growth of the market.
On the contrary, implementation of technologies to offer value added services to customers offer dental insurance providers with numerous opportunities. In addition, developing economies offer significant opportunities for insurers to expand their business by strengthening policies to support development of the dental insurance market. Furthermore, implementation of technologies can help insurers to enhance smooth claim process and avoid manual claim settlement processes, prevent insurance fraud, and derive over diagnosis & diagnostic errors. Therefore, these are some of factors expected to provide lucrative opportunities for the dental insurance providers during the forecast period.
The dental insurance market is segmented on the basis of coverage, procedure type, demographics, end user, and region. In terms of coverage, it is segmented into Dental Preferred Provider Organizations (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, and others. Based on type, it is segmented into major, basic/minor, and preventive. On the basis of demographics, it is segmented into senior citizens, adults, and minors. By end user, it is bifurcated into individuals and corporates. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyses profiles of key players operating in the market, which include Aetna Inc., AFLAC INCORPORATED, Allianz, Ameritas, AXA, Cigna, Delta Dental, HDFC ERGO Health Insurance Ltd. (Apollo Munich), MetLife Services and Solutions, LLC, and United HealthCare Services, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global dental insurance market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global dental insurance market from 2020 to 2027 is provided to determine the market potential.
KEY MARKET SEGMENTS
- Dental Preferred Provider Organizations (DPPO)
- Dental Health Maintenance Organizations (DHMO)
- Dental Indemnity Plans
By Procedure Type
- Senior Citizens
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
Key Market Players
- Aetna Inc.
- AFLAC INCORPORATED
- Delta Dental
- HDFC ERGO Health Insurance Ltd. (Apollo Munich)
- MetLife Services and Solutions, LLC
- United HealthCare Services, Inc.