The global dental tourism market is expected to grow primarily owing to a rise in the number of uninsured and underinsured individuals in developed countries. Dental clinics sub-segment is expected to flourish immensely. The market in the Asia-Pacific region is predicted to grow at a high CAGR by 2031
NEW YORK, June 19, 2023 /PRNewswire/ — Global Dental Tourism Market Forecast Analysis:
As per the report published by Research Dive, the global dental tourism market is expected to register a revenue of $21,544.1 million by 2031 at a CAGR of 13.9% during the forecast period 2022-2031.
Segments of the Dental Tourism Market
The report has divided the dental tourism market into the following segments:
- Service: dental implants, orthodontics, dental cosmetics, and others
- Dental Implants – Highest market share in 2021
The increased occurrence of dental injuries because of car accidents and sports injuries has fueled the necessity for dental implants, which is expected to boost the sub-segment in the 2022-2031 timeframe. - Provider: hospitals, dental clinics, and others
- Dental Clinics – Most lucrative in 2021
The growing competition among dental care providers and the need for affordable therapies are anticipated to push the sub-segment forward. - Region: North America, Europe, Asia-Pacific, and LAMEA
- Asia-Pacific – Significant market share in 2021
The accessibility of dentists with extensive experience, superior dental infrastructure, and the large number of patients coming to Asian countries for medical treatment owing to the accessibility of lower-cost facilities are predicted to propel the market in the forecast period.
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Dynamics of the Global Dental Tourism Market
The rise in dental issues and tooth loss is expected to make the dental tourism market a highly profitable one in the forecast period. Additionally, the accessibility of the most recent medical innovations in worldwide dental tourism areas is predicted to propel the market forward. However, the difficulty of getting a visa to enter some countries, as well as the requirement to pay for travel, airline, and hotel expenditures while obtaining a visa for dentistry tourism, which may be rather expensive, might become a restraint in the growth of the market.
Long wait periods for dental care locally, coupled with cheaper treatment costs and better services abroad, is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, the high affordability of more superior healthcare treatments at a cheap cost in developing countries, lower airplane fares, and the tourism aspect are expected to propel the dental tourism market forward in the coming period.
COVID-19 Impact on the Global Dental Tourism Market
The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The dental tourism market, too, was negatively impacted due to the pandemic. The enforcement of travel restrictions and strict regulations on medical tourism has impacted demand in the dental tourism sector globally. As a result, the options for travelers for dental technologies and procedures abroad decreased, which contributed to a decline in the market growth. These factors significantly hindered the market growth amidst the pandemic.
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Key Players of the Global Dental Tourism Market
The major players of the market include
- Apollo Hospitals Enterprise Ltd
- Franco-Vietnamese Hospital
- Clove Dental
- Fortis Healthcare
- Medlife Group
- ARC Dental Clinic
- Oris Dental Centre
- Raffles Medical Group
- Dubai Dental Hospital
- Liberty Dental Clinic
- Imperial Dental Specialist Center
- ThantakIt International Dental Center
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
For instance, in August 2018, Vietnam Tourism Dentistry JSC, a connecting service for any individual needing dental care while travelling in Vietnam, launched the nation’s official dental tourism homepage to make Vietnam the world’s dental care tourism destination in the future.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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