PUBLISHER: Grand View Research | PRODUCT CODE: 1404587
PUBLISHER: Grand View Research | PRODUCT CODE: 1404587
The global dental insurance market size is expected to reach USD 390.3 billion by 2030, registering a CAGR of 9.3%, according to a new report by Grand View Research, Inc. The expansion can be attributed to dental care awareness, rising cost of dental treatment, and an aging population requiring constant dental care. According to the World Health Organization, oral health differs over the entire course of life starting from early life until old age. Thus, it is one of the integral parts of general health as well as providing support to individuals. Elevating awareness regarding dental health can provide confidence and also help an individual maintain good oral health. Thereby this trend directly impacts the demand for dental insurance as individuals are opting for good dental treatments.
Aging population is expected to drive market growth in the coming years. Dental issues in the elderly population are high. For instance, according to the Centers for Disease Control and Prevention, in 2021 almost all adults aged 65 years and above had a tooth cavity and every 1 in 5 individuals had untreated tooth decay. The elderly require more dental care due to increased incidences of tooth loss and other oral diseases as compared to the younger individuals and hence they seek dental insurance coverage to manage the costs associated with the treatment. Thereby, such factors are elevating the growth of the dental insurance industry.