At 10.7% CAGR Dental Insurance Market Size to Hit $237.11 Billion by 2027 | Increase in awareness toward oral hygiene have boosted the growth
Pune, Maharashtra, India, September 21 2020 (Wiredrelease) Allied Analytics –: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 an increase in convergence of dental & health insurance hinder the market growth. On the contrary, the 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.
As per the report published by Allied Market Research, the global dental insurance industry generated $152.26 billion in 2019, and is expected to reach $237.11 billion by 2027, growing at a CAGR 10.7% from 2020 to 2027.
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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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North America region held lion’s share
By region, the global dental insurance market across North America held the largest share in 2019, contributing to nearly half of the market, owing to increased adoption of dental insurance in the U.S. However, the market across Asia-Pacific is expected to manifest the highest CAGR of 13.2% during the forecast period, due to emerging economies, increase in awareness toward dental insurance, and adoption of technology services in dental insurance product lines.
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.
Key benefits for stakeholders
The study provides an in-depth analysis of the global dental insurance market share 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 the buyers and suppliers operating in the industry.
An extensive analysis of the key segments of the industry helps to understand the global dental insurance market trends.
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
Rest of Europe
Rest of Asia-Pacific
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