U.S. Dental Insurance Market for Individuals, By Plan Type (Dental Preferred Provider Organizations (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, Discount Plan And Point Of Service (POS) Dental Plan), Coverage (Lifetime Coverage, Term Coverage), Procedure (Major Services, Basic Services, Preventative and Diagnostic Services), Demographics (Senior Citizens, Adults, Minors), Service Provider (Private Dental Insurance Providers, Public Dental Insurance Providers), Distribution Channel (Financial Institutions, Hospitals, Clinics, E-Commerce, Direct Sales, Others) - Industry Trends and Forecast to 2031.
U.S. Dental Insurance Market for Individuals Analysis and Size
Dental insurance is a form of health insurance designed to pay the cost of treatment and costs associated with dental care. Dental insurance helps individuals to get coverage for dental care and hospitalization expenses and the cost of medicines and others. Dental insurance covers issues related to the teeth and gums and preventative care such as annual cleanings.
Data Bridge Market Research analyzes that the U.S. dental insurance market for individuals which was USD 6,349.32 million in 2023, would reach up to USD 10,587.29 million by 2031, and is expected to undergo a CAGR of 6.60% during the forecast period. The “Major Services” accounts for the largest market share in the procedure segment of the market due to the higher cost of major dental surgical procedures. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
U.S. Dental Insurance Market for Individuals Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Plan Type (Dental Preferred Provider Organizations (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, Discount Plan And Point Of Service (POS) Dental Plan), Coverage (Lifetime Coverage, Term Coverage), Procedure (Major Services, Basic Services, Preventative and Diagnostic Services), Demographics (Senior Citizens, Adults, Minors), Service Provider (Private Dental Insurance Providers, Public Dental Insurance Providers), Distribution Channel (Financial Institutions, Hospitals, Clinics, E-Commerce, Direct Sales, Others)
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Countries Covered
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U.S.
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Market Players Covered
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Aetna Inc. (A Subsidiary of CVS Health) (U.S.), Allianz (Germany), AFLAC INCORPORATED (U.S.), Ameritas Mutual Holding Company (U.S.), Delta Dental (U.S.), Cigna (U.S.), MetLife Services and Solutions, LLC (U.S.), United HealthCare Services, Inc. (A Subsidiary of UnitedHealth Group) (U.S.), Dentegra Insurance Company (U.S.), LIBERTY Dental Plan (U.S.), Anthem Insurance Companies, Inc. (A Subsidiary of Anthem, Inc.) (U.S.), Humana Inc. (U.S.), The Guardian Life Insurance Company of America (U.S.), Physicians Mutual (U.S.), Renaissance Holding Company (U.S.), United Concordia Companies, Inc. (U.S.)
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Market Opportunities
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Market Definition
Dental insurance for individuals typically covers a range of preventive and diagnostic services, including regular check-ups, cleanings, and X-rays. In addition, many plans provide partial coverage for basic procedures such as fillings and extractions, as well as more extensive services like root canals and crowns. While coverage varies, dental insurance aims to alleviate some of the financial burden associated with routine dental care and unexpected dental procedures. It often involves a combination of monthly premiums, annual deductibles, and co-payments, allowing individuals to access dental services with reduced out-of-pocket expenses.
Dental Insurance Market for Individuals Dynamics
Drivers
- Rising Healthcare Costs
Escalating costs of dental care, including routine check-ups and specialized procedures, drive individuals to seek dental insurance for financial protection. Insurance coverage helps mitigate the burden of out-of-pocket expenses, making dental care more affordable and accessible, especially in a landscape of increasing healthcare expenditures.
- Employer-Sponsored Plans
Many individuals secure dental insurance through their employers, who offer it as part of comprehensive benefits packages. This employer sponsorship not only provides employees with financial assistance for dental services but also acts as a valuable incentive for talent recruitment and retention, contributing to the widespread adoption of dental insurance among working individuals.
- Government Initiatives
Government programs, such as Medicaid and CHIP, play a pivotal role in expanding access to dental insurance for individuals, particularly those with limited financial resources. The Affordable Care Act's provisions mandating paediatric dental coverage further underscore the government's commitment to oral health, driving enrolment in dental insurance plans among families and underserved populations.
Opportunities
- Expansion of Service Providers
The increasing demand for dental insurance in the U.S. market provides an opportunity for existing insurance companies to diversify their portfolios and for new entrants to emerge. This expansion fosters a competitive landscape, encouraging insurers to differentiate themselves through unique coverage options, pricing structures, and customer service. Consumers benefit from a wider array of choices, allowing them to select plans that align with their specific dental care needs and preferences.
- Specialized Insurance Products
The growth in dental insurance opens avenues for the development of specialized products catering to specific dental requirements. Insurers may introduce coverage for cosmetic dentistry, orthodontics, or advanced dental procedures, addressing niche market segments. This not only allows insurers to tailor offerings to diverse consumer demands but also enhances the overall value proposition, attracting individuals seeking coverage for specific dental treatments beyond routine care. Specialized products can contribute to market differentiation and customer satisfaction.
Restraints/Challenges
- Affordability Concerns
Affordability remains a significant challenge as some individuals may face difficulty in managing the financial aspects of dental insurance. Despite having coverage, high premiums, co-pays, and deductibles can strain budgets, leading to delayed or foregone dental care. This challenge particularly impacts those without employer-sponsored plans or comprehensive insurance options, highlighting the need for more affordable alternatives and financial assistance programs.
- Limited Coverage for Certain Procedures
Dental insurance plans often come with limitations, excluding coverage for certain elective or cosmetic procedures. This limitation poses challenges for individuals seeking coverage for treatments beyond routine care, such as orthodontics or cosmetic dentistry. The gap in coverage for specific dental needs may necessitate additional out-of-pocket expenses, prompting individuals to explore supplemental insurance or alternative financing options for comprehensive dental treatments.
This dental insurance market for Individuals report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the dental insurance market for Individuals contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In June 2020, United HealthCare Services, Inc. (a subsidiary of UnitedHealth Group) announced the launch of teledentistry services. These teledentistry services were designed to reduce unnecessary emergency room (ER) visits and more efficiently get patients to the most appropriate setting for in-person care. This has helped the company to improve the access and affordability of dental care for the customers
- In April 2020, Cigna announced launch of dental virtual care. This virtual solution helps dentists and patients access an urgent dental consult while minimizing their risk of COVID-19 exposure. This virtual solution is part of Cigna dental health connect to provide meaningful dental care services. This has helped the company to enhance its dental offerings in the market
U.S. Dental Insurance Market for Individuals Scope
The dental insurance market for individuals is segmented on the basis of plan type, coverage, procedure, demographics, service provider and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Plan Type
- Dental Preferred Provider Organizations (DPPO)
- Dental Health Maintenance Organizations (DHMO)
- Dental Indemnity Plans
- Discount Plan and Point of Service (POS) Dental Plan
Coverage
- Lifetime Coverage
- Term Coverage
Procedure
- Major Services
- Basic Services
- Preventative and Diagnostic Services
Demographics
- Senior Citizens
- Adults
- Minors
Service Provider
- Private Dental Insurance Providers
- Public Dental Insurance Providers
Distribution Channel
- Financial Institutions
- Hospitals
- Clinics
- E-Commerce
- Direct Sales
- Others
Healthcare Infrastructure growth Installed base and New Technology Penetration
The dental insurance market for individuals also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for dental insurance market for individuals, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the dental insurance market for individuals. The data is available for historic period 2011-2021.
Competitive Landscape and Dental Insurance Market for Individuals Share Analysis
The dental insurance market for individuals competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, U.S. presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to dental insurance market for individuals.
Some of the major players operating in the dental insurance market for individuals are:
- Aetna Inc. (A Subsidiary of CVS Health) (U.S.)
- Allianz (Germany)
- AFLAC INCORPORATED (U.S.)
- Ameritas Mutual Holding Company (U.S.)
- Delta Dental (U.S.)
- Cigna (U.S.)
- MetLife Services and Solutions, LLC (U.S.)
- United HealthCare Services, Inc. (A Subsidiary of UnitedHealth Group) (U.S.)
- Dentegra Insurance Company (U.S.)
- LIBERTY Dental Plan (U.S.)
- Anthem Insurance Companies, Inc. (A Subsidiary of Anthem, Inc.) (U.S.)
- Humana Inc. (U.S.)
- The Guardian Life Insurance Company of America (U.S.)
- Physicians Mutual (U.S.)
- Renaissance Holding Company (U.S.)
- United Concordia Companies, Inc. (U.S.)
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