Market Size of United States Dental Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Dental Insurance Market Analysis
Dental Insurance in the United States crossed USD 80 billion in 2021 and growing at a significant rate. 30% of Unites states adults do not have dental insurance. Out of these, nearly 6 million reported that they lost their dental insurance due to COVID-19 benefit changes or job losses, and employer-sponsored coverage declined by 0.2% points each week during the COVID-19 pandemic.
Pandemic slowed down dental care use. In March and April 2020, all states had a drop in dental care utilization when compared to the same months in 2019. However, dental care use among privately insured patients fully rebounded by August 2020, and its use remained lower than the pre-pandemic level by 7.54% among the publicly insured population.
Implementation of technologies helps customers with value-added services and offers dental insurance providers numerous opportunities. It can help insurers to boost the smooth claim process and avoid manual claim settlement processes, prevent insurance fraud, and derive over-diagnosis and diagnostic errors.
US Dental Insurance Industry Segmentation
Dental insurance is coverage protection for dental treatments. The United States Dental Insurance Market is segmented by Coverage (Dental health maintenance organizations (DHMO), Dental preferred provider organizations (DPPO), Dental Indemnity plans (DIP), Dental exclusive provider organizations (DEPO), and Dental point of service (DPS)), by Procedure (Preventive, major, and basic), by End-users (Individuals and corporates), by Industries (Chemicals, Refineries, Metal and mining, food and beverages, and others), and by demographics (senior citizens, adults, and minors).
| By Coverage | |
| Dental health maintenance organizations | |
| Dental preferred provider organizations | |
| Dental indemnity plans | |
| Dental exclusive provider organizations | |
| Dental Point of service |
| By Procedure | |
| Preventive | |
| Major | |
| Basic |
| By Industries | |
| Chemicals | |
| Refineries | |
| Metal and mining | |
| Food and beverages | |
| Others |
| By Demographics | |
| Senior citizens | |
| adults | |
| minors |
United States Dental Insurance Market Size Summary
The US dental insurance market is experiencing significant growth, driven by the increasing need for affordable dental care amidst rising costs. Despite the high expenses associated with dental services, a substantial portion of the American population remains uninsured, with many citing cost as a barrier to accessing care. The COVID-19 pandemic had a notable impact on dental care utilization, with a temporary decline in services, particularly among publicly insured individuals. However, the market has shown resilience, with privately insured patients quickly returning to pre-pandemic levels of care. The introduction of technologies in the insurance sector is creating opportunities for providers to enhance service delivery, streamline claims processes, and reduce fraud, thereby adding value to their offerings.
The market is characterized by the presence of major players such as Aetna, AFLAC, Allianz, Delta Dental Plans Association, and United Healthcare Services, who dominate the landscape. These companies are expanding their market presence through technological advancements and service innovations, such as UnitedHealthcare's collaboration with Quip to enhance virtual dental care benefits. Additionally, policy changes, such as the Biden administration's Build Back Better plan, aim to expand dental coverage for Medicare recipients, addressing disparities in dental care access among low-income and minority seniors. As more states integrate dental benefits into Medicaid, the market is poised for further growth, with an increasing number of individuals recognizing the value of dental insurance as a worthwhile investment.
United States Dental Insurance Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Insights on Various Regulatory Landscape
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1.5 Insights on impact of technology and innovation in the market
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1.6 Industry Attractiveness - Porters' Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Coverage
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2.1.1 Dental health maintenance organizations
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2.1.2 Dental preferred provider organizations
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2.1.3 Dental indemnity plans
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2.1.4 Dental exclusive provider organizations
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2.1.5 Dental Point of service
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2.2 By Procedure
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2.2.1 Preventive
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2.2.2 Major
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2.2.3 Basic
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2.3 By Industries
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2.3.1 Chemicals
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2.3.2 Refineries
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2.3.3 Metal and mining
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2.3.4 Food and beverages
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2.3.5 Others
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2.4 By Demographics
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2.4.1 Senior citizens
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2.4.2 adults
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2.4.3 minors
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United States Dental Insurance Market Size FAQs
What is the current United States Dental Insurance Market size?
The United States Dental Insurance Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in United States Dental Insurance Market?
Aetna, AFLAC inc, Ameritas, Cigna, Delta dental plans association and United healthcare service are the major companies operating in the United States Dental Insurance Market.
