Dental Tourism Market Expected to Reach $21.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Dental Tourism Market," The dental tourism market size was valued at $6.2 billion in 2021, and is estimated to reach $21.5 billion by 2031, growing at a CAGR of 13.9% from 2022 to 2031.

Dental tourism refers to patients who travel from their home country or live in another country to receive dental treatment at a lower cost than they would receive in their home country. This type of patient migration occurs as a result of rise in dental costs, particularly in western parts of the world. The surge in prevalence of tooth loss, high demand for cosmetic dentistry, rise in per capita healthcare spending, and the introduction of technologically improved products into the market are some of the major drivers of dental tourism sector growth. One of the most popular methods of treating lost teeth is the implantation of dental implants. The geriatric age group is affected due to a significant rate of edentulism. Furthermore, the rise in geriatric population and related demographic changes are projected to fuel the expansion of the dental tourism industry.

However, the dental tourism market is expected to be limited due to the difficulty of obtaining a visa to enter some countries and the need to pay for travel, flight, and lodging expenses, when opting for dental tourism, which can be quite costly. Furthermore, as the clinic is not in the patient's home region, it is difficult for them to return for regular check-ups after treatment, which creates a market barrier.

Dental tourism has rapidly progressed toward becoming one of the fastest-growing fields in the medical tourism sector. It essentially revolves around people that travel abroad to receive low-cost, cutting-edge, and painless dental treatments. It is frequently combined with a holiday or a tourist experience of the destination for dental treatments. Dental tourism has become a growing trend and has gained popularity around the world as healthcare options improve. These factors are anticipated to boost the dental tourism market size in the upcoming years.

The dental tourism market is segmented on the basis of service, provider, and region. By service, the market is divided into dental implants, orthodontics, dental cosmetics, and others. By provider, the market is classified into hospitals, dental clinics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the dental tourism market analysis report include Franco-Vietnamese Hospital, Apollo Hospitals Enterprise Ltd., Fortis Healthcare, Clove Dental, Medlife Group, Raffles Medical Group, Oris Dental Centre, Dubai Dental Hospital, Imperial Dental Specialist Center, Liberty Dental Clinic, ThantakIt International Dental Center, and ARC Dental Clinic

The report offers a comprehensive analysis of the global dental tourism market trends by thoroughly studying several aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that contribute to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers & suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Dental Tourism Industry

• The COVID-19 pandemic spread throughout the world, causing several deaths and misfortunes. Owing to the closure of all businesses and services, the pandemic resulted in severe economic loss and recession. The strict lockdown implications caused disruptions in the demand and supply chain for many productions, resulting in massive waste creation and loss of investment for people.
• Many households became unemployed with no source of income and businesses began to lay off workers to save money. The government established relief funds for those in financial distress. The healthcare sector was the most severely impacted segment of the market.
• The COVID-19 pandemic had a severe effect on the dental tourism industry as well. Owing to the disease's extensive distribution, all dental offices and facilities were shut down, preventing patients from receiving care.
• In addition, even after the lockdowns and pandemic subsided, the extensive travel prohibitions imposed across all international borders had a negative impact on the tourism industry. Owing to the dangers of the pandemic's contamination, people grew less eager to travel. As a result, the market's recent growth is anticipated to be moderate.

Key Findings of the Study

• By service, the dental implants sub-segment emerged as the global leader in 2021 and dental cosmetics sub-segment is anticipated to be the fastest growing sub-segment during the dental tourism market forecast period.
• By provider, the dental clinics sub-segment accounted for a height dental tourism market share in 2021 and is predicted to show the fastest growth in the upcoming years.
• By region, the Asia-Pacific market registered the highest dental tourism market share in 2021 and is projected to maintain the position during the forecast period.