Brand Story
03 Oct 2022, 19:13 GMT+10
The global dental tourism market is primarily driven by increasing cases of dental defects and an increasing preference for cosmetic dentistry worldwide. Lower treatment price and better service in dental treatment abroad, long waiting times at home for dental treatment can stimulate the growth of the market in the near future. Dentist malpractice is likely to hold back the market during the forecast period.
The global dental tourism market is expected to reach a valuation of US$ 6.7 bn in 2022, with sales growth of a 13.6% CAGR during the forecast period. Rapid adoption of technologically advanced medical devices in emerging economies will drive the growth in the market, with the market size reaching € 24.3 bn by 2032.
Rising costs of health care and dental services in developed countries are forcing consumers to adopt dental tourism. This trend is driven by the lack of insurance coverage for major elective dental surgery procedures in several countries.
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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.
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. 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 The development of healthcare infrastructure in these countries is expected to drive the market in the coming years," said an FMI analyst.
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Key learning points:
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 Tourist Type:
By Dental Treatment Services:
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By Traveller Type:
By Age Group:
By Booking Channel:
By Consumer Orientation:
About FMI:
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.
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The post Dental Tourism Market is estimated to reach a valuation of US$ 6.7 Billion in 2022 appeared first on Future Market Insights.
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