Dental Tourism Market Value to Grow by Almost US$ 24.3 Bn During 2022-2032, Future Market Insights
Future Market Insights Global and Consulting Pvt. Ltd.
5 min read
Future Market Insights Global and Consulting Pvt. Ltd.
The global dental tourism market is primarily driven by rising cases of dental abnormalities and increasing preference for cosmetic dentistry worldwide. Less treatment price and better service in dental treatment in foreign country, long waiting time in own country for dental treatment may boost the growth of the market in upcoming future. Malpractices by dentist is likely to inhibit the market during the forecast period.
DUBAI, United Arab Emirates, May 09, 2022 (GLOBE NEWSWIRE) -- The global dental tourism market is expected to reach a valuation of US$ 6.7 Bn in 2022, with sales growing at a 13.6% CAGR over the forecast period. Rapid adoption of technologically advanced medical equipment in emerging economies will steer the growth in the market, with the market size reaching US$ 24.3 Bn by 2032.
Increasing costs of healthcare and dental services in developed nations is compelling consumers to adopt dental tourism. This trend is propelled by the lack of insurance coverage for major elective dental surgical procedures in various countries.
Moreover, the cost of treatment in countries such as India, Thailand and China is relatively lower than the countries in North America and Europe. This is reflecting a surge in dental tourism cases from Europe and North America into the developing economies. The process of obtaining a medical visa for such procedures is relatively quicker and easier, thus promoting the flow of patients into foreign countries for treatment.
Promotional strategies such as the launch of online campaigns displaying cost-effective services provided by health institutions are contributing to the growth in the market. Delivery of undivided attention in terms of care, as well as provision of affordable accommodation beckons the consumer’s interest for taking up on attractive medical tourism packages, identifying treatment options as well as recreational choices.
With growing lifestyle related diseases and unhealthy dietary intake, the incidence of dental disorders is on the rise. High prevalence of diseases such as dental caries has led to a spike in dental restoration procedures. Thus, increasing burden of dental abnormalities is propelling the interest in cosmetic dentistry, thereby creating opportunities for growth in the market.
“Rising adoption of technologically advanced medical equipment in emerging economies, along with increasing government0backed investments in the development of the healthcare infrastructure in these countries is expected to drive the market in the forthcoming years,” says an FMI analyst.
Based on services, sales in the dental cosmetics segment will increase at a robust 18.1% CAGR through 2032.
In terms of providers, the hospital chains segment is projected to account for 47.2% of the total market share in 2022.
India will emerge as a lucrative pocket, accounting for 53.9% of the South Asia dental tourism market share in 2022.
What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
What are some of the branding opportunities that are emerging at a rapid pace?
What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
Why some competitive strategies are popular than others among leaders in a certain market?
What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
Competition Landscape
With advancements in cosmetic dentistry, market players are aiming to offer these services at affordable prices to gain a competitive edge. They are also investing in mergers, acquisitions, and collaborations to expand their global presence. Other strategies include product and service promotions on social media and online channels, as well as collaborations with hospital chains.
Key Market Segments Covered In Dental Tourism Industry Research
Drainage Catheter Market : The global drainage catheter market size is estimated to reach US$ 325 Mn by the end of 2022.
Rapid Plasma Reagin Test Market : The rapid plasma reagin test market is likely to register a CAGR of 4% during the forecast period, and is anticipated to reach a market share of US$ 68.51 Mn in 2032, from US$ 46.28 Mn in 2022
Antinuclear Antibody Test Market : The antinuclear antibody test market is likely to record a strong CAGR of 8% during the forecast period.
Intranasal Corticosteroids Market : The global intranasal corticosteroids market is expected to reach US$ 11.4 Billion in 2032 and exhibit immense growth at a CAGR of 7.2% in the forecast period from 2022 to 2032.
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
