The Global Dental Tourism Industry is on track to achieve a market worth of US$ 6.7 billion in 2022, fueled by a robust sales growth rate of 13.6% CAGR throughout the projected period. The rapid uptake of cutting-edge medical equipment in emerging economies will be a key driver for market expansion, with the market’s dimensions poised to escalate to US$ 24.3 billion by 2032.
Increasing healthcare and dental service expenses in developed nations are compelling consumers to embrace dental tourism as an alternative. This trend is propelled by the absence of insurance coverage for significant elective dental surgical procedures in numerous countries.
In addition, treatment costs in countries such as India, Thailand, and China are relatively lower than in the countries of North America and Europe. This reflects an increase in dental tourism from Europe and North America to emerging economies. Obtaining a medical visa for such procedures is comparatively faster and easier, thereby facilitating the flow of patients abroad for treatment.
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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,” saidSabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Global Dental Tourism Industry 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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Global Dental Tourism Industry 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 Global 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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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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