Dental Tourism Market to Reach $21.5 Billion, Globally, by 2031 at 13.9% CAGR: Allied Market Research

Increased tooth loss rates, high demand for cosmetic dentistry, rising per-person healthcare costs, and emergence of technologically advanced products drive the growth of the global dental tourism market

PORTLAND, Ore., April 10, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Dental Tourism Market by Services (Dental Implants, Orthodontics, Dental Cosmetics, Others), by Providers (Hospitals, Dental Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global dental tourism industry generated $6.2 billion in 2021 and is anticipated to generate $21.5 billion by 2031, witnessing a CAGR of 13.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities-

Increased tooth loss rates, high demand for cosmetic dentistry, rising per-person healthcare costs, and emergence of technologically advanced products drive the growth of the global dental tourism market. However, the strict government restrictions on prohibiting foreign medical treatment hinder the market growth. Furthermore, with the rise in the geriatric population and advanced healthcare options, dental tourism is becoming more and more popular worldwide, thus offering lucrative opportunities in the industry.

Covid-19 Scenario

• The COVID-19 pandemic had adverse effects on the dental tourism market worldwide, particularly in countries like India and China, which were popular destinations for dental tourism. The imposition of travel bans, supply chain disruptions, and movement restrictions had a severe impact on this industry during the initial years of the pandemic.
• The dental tourism market in India was hit hard by the travel restrictions, which prevented patients from neighboring countries from seeking dental treatment. According to Fortis Healthcare's annual report, the dental tourism industry witnessed a significant decline in 2021 due to global travel restrictions.
• However, the dental tourism industry has shown signs of recovery post-pandemic.

The dental implants segment to maintain its leadership status throughout the forecast period-

By services, the dental implants segment held the highest market share in 2021, accounting for more than two-fifths of the global dental tourism market revenue and is estimated to maintain its leadership status throughout the forecast period.  This is because dental implants are long-term replacements that are described as a restorative treatment that protects and supports natural bone while also acting as a secure foundation for a prosthesis. However, the dental cosmetics segment would display the fastest CAGR of 14.8% during the forecast period.  This is due to the rise in the prevalence of dental disorders such as periodontal disease, tooth decay, gum disease, dental crack, and dental cavities, as well as an increase in the geriatric population, which is more prone to tooth-related problems.

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The dental clinics segment to grab the lion's share during the forecast period

By providers, the dental clinics segment held the highest market share in 2021, contributing to nearly three-fourths of the global dental tourism market revenue, and is estimated to maintain its lion's share throughout the forecast period. Also, the same segment is projected to cite the highest CAGR of 14.2% during the forecast period.  This is due to the rising demand for cost-effective treatments. Moreover, healthcare systems around the world believe that the risk of infection in clinics is comparatively lower than in hospitals.

Asia-Pacific to maintain its dominance by 2021-

By region, Asia-Pacific held the major share in 2021, garnering more than half of the global dental tourism market revenue and is projected to rule the roost by 2031. This is due to the easy availability of dentists with rich experience. Also, superior infrastructure for dental treatment has supplemented the market growth. However, the Europe region would portray the fastest CAGR of 14.8% during the forecast period. This is owing to the introduction of novel technologies, such as CAD/CAM-based dental restorations and high awareness of dental procedures across the province.

Leading Market Players-

• Liberty Dental Clinic
• Dubai Dental Hospital
• Imperial Dental Specialist Center
• Medlife Group
• clove dental
• Apollo Hospitals Enterprise Ltd.
• Franco-Vietnamese Hospital
• raffles medical group
• Fortis Healthcare
• Oris Dental Centre

The report provides a detailed analysis of these key players in the global dental tourism market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio, and strategic moves of the market players.

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