PUBLISHER: Allied Market Research | PRODUCT CODE: 1298453
PUBLISHER: Allied Market Research | PRODUCT CODE: 1298453
The global dental tourism market is envisioned to garner $21.5 billion by 2031, growing from $6.2 billion in 2021 at a CAGR of 13.9% from 2022 to 2031.
Dental tourism is an activity of going from one country to another with an affordable and accessible means for dental treatment. Furthermore, multiple implants can be used to replace multiple teeth, making it a flexible teeth replacement solution. As a result, one of the major growth drivers of the global dental tourism market during the forecast period is the significant benefit associated with these implants over other tooth-replacement methods. These implants are made to resemble real teeth. The jaw bone and titanium implant fuse together over the course of several months to produce a strong bond. Titanium implants have excellent biocompatibility with the bone to merge with living bone. When compared to bridgework and removable dentures, these implants are made of high-quality titanium or zirconium material that can last a lifetime.
Dental tourism entirely depends upon travel facilities from one country to the other. However, the occurrence of pandemic or strict government regulations imposed on receiving medical care abroad hampered market growth. The World Tourism Organization estimated that the emergence of the COVID-19 pandemic resulted in a 73% decrease in tourists worldwide in 2020. As a result, the options for dental technologies/procedures for international travelers decreased, affecting the industry and limiting market growth.
According to a recent report published by Dental Tribune International, the COVID-19 outbreak forced 86% of dental practices to lay off employees. Dental tourism is a subcategory of medical tourism that includes visitors who seek dental care outside of their home country's healthcare system. The main advantages of dental tourism include affordable prices for high-quality procedures, highly skilled staff, shorter treatment times, and cutting-edge medical technology & tools. Thailand, Mexico, Turkey, India, and Hungary are the top destinations for dental tourists. Mexico is home to 25% of all dental tourists worldwide. Hungary serves European patients, whereas India primarily serves Asian patients and some Americans.
The COVID-19 pandemic caused innumerable deaths and unfortunate events. The pandemic caused a severe economic loss and recession as a result of the closure of all businesses and services. The severe effects of lockdown disrupted the demand and supply chains for many different productions, which led to enormous waste and wasted investment for people. Many homes were left without a means of support, and firms started to fire employees in an effort to cut costs. For people who need financial support, the government established funds. The sector of the market that was most adversely affected was the healthcare sector.
The COVID-19 pandemic had a significant impact on the dentistry tourism market. Owing of the disease's widespread outbreak, all dental clinics and facilities were closed, preventing patients from receiving care. Even after the lockdowns and pandemic had passed, the tourism industry continued to suffer as a result of the extensive travel bans imposed across all national borders. People became less eager to travel due to the risks of being contaminated by the virus. As a result, current market growth is expected to be slow.
The key players profiled in this 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.