The global dental tourism industry is rapidly progressing toward a projected valuation of US$ 6.7 billion in 2022, driven by an impressive compound annual growth rate (CAGR) of 13.6%. This substantial growth is primarily fueled by the widespread adoption of state-of-the-art medical equipment in emerging economies, with expectations of the market expanding to a remarkable US$ 24.3 billion by 2032.
Escalating healthcare and dental service costs in developed nations are compelling individuals to turn to dental tourism as a viable alternative. This shift is further accelerated by the lack of insurance coverage for significant elective dental procedures in many countries.
Moreover, the cost of treatments in countries like India, Thailand, and China is considerably lower compared to North America and Europe, making dental tourism increasingly attractive to individuals from these regions. The streamlined process of obtaining medical visas for such procedures significantly facilitates the movement of patients to foreign destinations for their dental care needs.
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Promotional strategies such as the launch of online campaigns showcasing cost-effective services from healthcare facilities are contributing to the growth of the market. Providing undivided attention to healthcare and providing affordable accommodation sparks consumer interest in adopting attractive medical-tourism packages, identifying both treatment and recreational choices.
With increasing lifestyle-related diseases and unhealthy dietary intake, the incidence of dental disease is increasing. The high prevalence of diseases such as dental caries has led to a spike in dental restoration procedures. Thus, the increasing burden of dental abnormalities is propelling the interest in cosmetic dentistry, creating growth opportunities in the market.
“Increasing adoption of technologically advanced medical devices in emerging economies, along with increasing government-backed investment in the development of healthcare infrastructure in these countries is expected to drive the market in the coming years,” said an FMI analyst.
Key learning points:
- On a service basis, revenue in the dental cosmetics segment will grow at a robust CAGR of 18.1% through 2032.
- In terms of providers, the hospital chain segment is expected to account for 47.2% of the total market share by 2022.
- India will emerge as a lucrative pocket, accounting for 53.9% of the dental tourism market share in South Asia by 2022.
- What are some of the core competencies and differentiating competencies of new entrants and established players in the industry that we analyze?
- What are some of the brand opportunities that are developing at a rapid pace?
- What are the key competitive forces and elements of the external environment that determine the industry lifecycle stages of most organizations?
- Why are some competitive strategies more popular than others among leaders in a particular market?
- What customer-based brand value strategies have companies used in a particular industry or set of related industries in an industry?
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Competition Landscape
With the advancement in cosmetic dentistry, market players are striving to offer these services at affordable prices to gain a competitive advantage. They also invest 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 partnerships with hospital chains.
Key Market Segments Covered in Dental Tourism Industry Research
By services:
- Dental implants
- Periodontology
- endodontics
- Dental prostheses
- Orthodontics
- pedodontics
- Oral surgery
- Dental Cosmetics
- Dental Consultation
By travelers:
- Occasional travelers
- Business travelers
By providers:
- Hospital chains
- Multi-Specialty Clinics
- Independent clinics
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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