India Dental Insurance Market To Reach $2.87 Billion By 2030

India Dental Insurance Market Growth & Trends

The India dental insurance market size is expected to reach USD 2.87 billion by 2030, registering a CAGR of 13.36% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the market is attributed to factors such as surging dental care costs, awareness of oral hygiene, government support, andconsumer awareness.

There have been notable enhancements in the healthcare infrastructure in recent years, driven by private enterprises and startups extending their services to semi-urban and rural regions. Furthermore, the government has introduced initiatives like the National Health Protection Scheme and multiple insurance programs to promote healthcare awareness among the population.

The cost of dental care is steadily rising, making it increasingly important for individuals to have access to dental services through the dental insurance market. Dental insurance plans were not previously available as separate policies, but now they are, and this is expected to entice more individuals to choose dental insurance over other options.

Increasing dental awareness is a critical factor contributing to the growth of the dental insurance market in India. Dental awareness has been bolstered by educational initiatives and information dissemination by both government agencies and private organizations. Awareness campaigns, workshops, and seminars have been conducted to educate people about the importance of oral health. People are becoming more conscious of preventive dental care and are seeking regular dental check-ups and treatments.

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India Dental Insurance Market Report Highlights

• Based on type, the preventive segment captured the highest market share in 2022. This is attributed to the increase in awareness about the importance of preventive dental care

• Based on demographic, the senior citizens segment dominated the market in 2022 owing to older adults having greater access to dental care and prioritizing regular dental check-ups and treatments

• Based on plan, the individual plans segment dominated the market in 2022. Individual plans are more appealing to consumers who want personalized coverage tailored to their specific needs and preferences

• Based on geography, the urban segment dominated the market in 2022. Urban areas typically have a higher concentration of dental care providers, including clinics, hospitals, and specialized dental centers. This availability of services may drive demand for dental insurance in urban areas

India Dental Insurance Market Segmentation

Grand View Research has segmented the India dental insurance market based on type, demographic, plan, geographic, and distribution channel:

India Dental Insurance Type Outlook (Revenue, USD Million, 2018 - 2030)

• Major

• Basic

• Preventive

India Dental Insurance Demographic Outlook (Revenue, USD Million, 2018 - 2030)

• Senior Citizens

• Adults

• Minors

India Dental Insurance Plan Outlook (Revenue, USD Million, 2018 - 2030)

• Individual Plans

• Corporates

India Dental Insurance Geographic Outlook (Revenue, USD Million, 2018 - 2030)

• Urban

• Rural

India Dental Insurance Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Direct Sales

• Brokers and Individual Agents

• Bankers

• Others

List of Key Players in the India Dental Insurance Market

• ICICI Lombard

• Bajaj Allianz

• HDFC ERGO Health Insurance

• Star Health

• Religare Health

• Max Bupa

• Future Generali

• ManipalCigna

• New India Assurance