Dental Insurance Market Size, Share, Opportunities, And Trends By Coverage (Dental Preferred Provider Organization (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, Others), By Procedure (Major, Basic, Preventive), By End User (Individuals, Corporates), And By Geography - Forecasts From 2024 To 2029

The dental insurance market is estimated to grow at a CAGR of 4.86% during the forecast period.

The market is flourishing due to several factors, including the rising prevalence of dental diseases, growing awareness of oral health, and escalating healthcare. Dental insurance reimburses dental care expenses, typically through monthly premiums, partial payments, or complete coverage for various procedures. It covers root canals, fillings, preventive care, tooth extractions, and even oral surgeries, safeguarding against unexpected dental emergencies. Indemnity and direct reimbursement plans are available under dental insurance. Depending on the health plan, access to different dentist networks is provided. Preventive and diagnostic services are offered at no cost, while a portion of the cost is covered for other services.

Market Drivers

• Rise of dental diseases worldwide

Dental conditions like tooth decay and gum disease are on the rise, leading to an increased demand for dental care. These oral diseases, largely preventable, impose a significant health burden globally, affecting individuals throughout their lives and causing pain, discomfort, disfigurement, and, in extreme cases, even death. The prevalence of major oral conditions is escalating worldwide due to factors such as urbanization, changes in living conditions, insufficient exposure to fluoride (in water and oral hygiene products), the availability and affordability of high-sugar foods, and limited access to community oral health care services.

 The World Health Organization's Global Oral Health Status Report for 2022 revealed that nearly 3.5 billion people worldwide are affected by oral diseases, with three-quarters of those affected residing in middle-income countries. Globally, around 2 billion people are afflicted with permanent teeth caries, and 514 million children experience caries in their primary teeth. Modifiable risk factors, common to various non-communicable diseases (NCDs), contribute to oral diseases. These factors include sugar consumption, tobacco and alcohol use, poor hygiene practices, and the associated social factors that have substantially contributed to the growth of dental diseases relative to the market.

• Rising awareness about dental care

There is a growing awareness among people regarding the significance of oral health and its profound impact on overall well-being, leading to an increased emphasis on preventive dental care. Every October, National Dental Hygiene Month is observed to celebrate the contributions of dental hygienists and promote awareness about the crucial role of maintaining good oral health. Recognized as a fundamental element of overall well-being, sound oral hygiene is considered a cornerstone of a healthy lifestyle. According to the Centers for Disease Control and Prevention (CDC), oral diseases, spanning from cavities and gum disease to oral cancer, inflict debilitating pain on millions of Americans annually. Safeguarding oral health through the practice of good oral hygiene significantly enhances the likelihood of retaining one's teeth for a lifetime.

Market Challenges

•  The high cost of dental insurance

A significant hurdle confronting the dental insurance market is the elevated expense associated with dental care. The cost of dental services has been escalating, posing challenges for individuals to afford these services without the support of dental insurance. This predicament is particularly pronounced for intricate procedures like root canals and dental implants.

In contrast, companies like Guardian Dental Advantage (PPO) cater to affordability by providing individual plans starting at just $15 a month for both individuals and families. This approach aims to make dental insurance more accessible and budget-friendly for a broader range of individuals.

By end-users, the dental insurance market is segmented into individuals and corporates.

Individuals have access to dental insurance offerings, featuring an annual maximum benefit that progressively increases over time. These plans cover a spectrum of dental services, including preventative and diagnostic services, basic services, and major services. A diverse range of business medical insurance plans is also available, incorporating coverage for in-network preventive care.

North America is anticipated to hold a significant share of the dental insurance market.

North America is projected to account for a notable share of the dental insurance market. The United States is expected to have a significant stake in the dental insurance market, given the oral health concerns among Americans. Tooth decay, which impacts 90% of adults aged 20 to 64 years, and gum disease, affecting nearly 50% of adults aged 45 to 64 years, continue to be prevalent oral health issues. Initiatives have been taken aiming at reducing financial barriers and enhancing access to dental services, coupled with health literacy programs designed to assist individuals in navigating healthcare systems, present opportunities for enhancing the oral health of adults.

Market Developments

• October 2022 - Humana Inc., Florida's Medicare Advantage plan, unveiled a substantial expansion of its dental network and benefits in the state. In the latest announcement, the health and well-being company disclosed its plans to enhance dental benefits for the year 2023 while also markedly increasing the roster of dentists accessible to its Medicare Advantage members in Florida.
• October 2023 - United Concordia Companies, Inc. secured a significant achievement as it was recently granted the world's largest single-carrier dental plan. The announcement comes following the company's successful bid for a 5-year contract valued at over $3 billion with the Department of Defense to administer the TRICARE Dental Program (TDP). Scheduled to commence on December 1, 2024, this substantial contract solidifies United Concordia's position as the exclusive provider for the TDP, a program delivering dental benefits to Uniformed Service active duty family members, as well as National Guard and Reserve members and their families. Currently serving nearly 1.8 million individuals enrolled in the TDP, this new contract represents a significant milestone in the realm of dental insurance.
• May 2022 - Guardian Life introduced innovative dental offerings, developed through close attention to consumer feedback, planholders' needs, and insights from brokers. The new dental plans incorporate features designed to encourage long-term oral care. One notable feature is the Diminishing Deductible, which progressively reduces each year a member is on the plan until it reaches $0 after three years. Additionally, the Early Smiles initiative provides 100% network coverage for preventive, basic, and major dental care for children up to the age of 12. Furthermore, Guardian Life's new dental plans offer affordable options, including 100% coverage for preventive care, coupled with a flexible allowance for additional care.

Company Products

• Dental insurance for individuals and families - Delta Dental offers valuable benefits, dentists within the network can identify signs of over 120 diseases through a thorough oral examination. This underscores the importance of dental insurance, which not only promotes oral health but also contributes to overall well-being. Delta Dental's insurance plans are designed to save individuals and families money by providing coverage for up to 100% of preventive cleanings and check-ups, along with partial coverage for more extensive dental procedures. This financial assistance is instrumental in making dental care more accessible and affordable for plan participants.
• Cigna Healthcare Dental Insurance - Cigna Healthcare Dental Insurance offers bundled plans that combine dental coverage with vision or both vision and hearing benefits. With average monthly premiums starting as low as $32, these plans provide flexibility and affordability for individuals and families. The deductibles range from $50 to $100, offering options to suit different preferences. Participants in these bundled plans can enjoy up to $2,500 in dental benefits, ensuring comprehensive coverage for various dental procedures. Additionally, vision benefits extend up to $300, supporting eye care needs, while hearing benefits offer coverage up to $700.
• United Healthcare dental insurance -  UnitedHealthcare offers dental plans branded under its name and underwritten by Golden Rule Insurance Company. These dental coverage plans are designed to address a variety of dental care needs tailored to individual preferences. Exploring the features of these plans provides insight into the coverage offered. The premium, which is the monthly amount paid for coverage, ensures access to the benefits outlined in the dental plan. Some dental plans may include copayments, a fixed cost paid by the participant for specific services, such as X-rays. These details collectively contribute to a comprehensive understanding of the coverage and costs associated with the plan.

Dental Insurance Market Scope:

 

Report Metric	Details
Growth Rate	CAGR of 4.86% from 2022 to 2029
Base Year	2022
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Coverage Procedure End User Geography
Companies Covered	Bajaj Finserv Delta Dental Cigna United Healthcare Guardian Life And more
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

Segmentation

• By Coverage
  • Dental preferred provider organization (DPPO)
  • Dental health maintenance organizations (DHMO)
  • Dental indemnity plans
  • Others
• By Procedure
  • Major
  • Basic
  • Preventive
• By End User
  • Individuals
  • Corporates
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. DENTAL INSURANCE MARKET BY COVERAGE

5.1. Introduction

5.2. Dental Preferred Provider Organization (DPPO)

5.3. Dental Health Maintenance Organizations (DHMO)

5.4. Dental Indemnity Plans

5.5. Others

6. DENTAL INSURANCE MARKET BY PROCEDURE

6.1. Introduction

6.2. Major

6.3. Basic

6.4. Preventive

7. DENTAL INSURANCE MARKET BY END-USER

7.1. Introduction

7.2. Individuals

7.3. Corporates

8. DENTAL INSURANCE MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. The Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Israel

8.5.4. Others

8.6. Asia Pacific

8.6.1. Japan

8.6.2. China

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Thailand

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

10. COMPANY PROFILES

10.1. Bajaj Finserv

10.2. Delta Dental

10.3. Cigna

10.4. United Healthcare

10.5. Guardian Life

10.6. Humana

10.7. United Concordia

10.8. Aflac

10.9. LivLong Insurance

10.10. Standard Insurance Company

Bajaj Finserv

Delta Dental

Cigna

United Healthcare

Guardian Life

Humana

United Concordia

Aflac

LivLong Insurance

Standard Insurance Company