New Zealand Dental Care Market Analysis

New Zealand Dental Care Market Analysis


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New Zealand's dental care services market size is at around $1.31 Bn in 2022 and is projected to reach $1.88 Bn in 2030, exhibiting a CAGR of 4.2% during the forecast period 2022-2030. The majority of dental services being rendered are funded by the Universal Health Coverage (UHC) endeavour of the government and primarily addresses vulnerable age groups and native communities propelled by the increased coverage by private insurance. This report is segmented by treatment type, age group, clinical setup, and by demography.

ID: IN10NZHS005 CATEGORY: Healthcare Services GEOGRAPHY: New Zealand AUTHOR: Dr. Mehrpreet Saluja

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Dental Care Services Market Executive Summary

New Zealand's dental care services market size is at around $1.31 Bn in 2022 and is projected to reach $1.88 Bn in 2030, exhibiting a CAGR of 4.2% during the forecast period 2022-30. New Zealand has a publicly funded healthcare system that is referred to as "universal healthcare" or "free healthcare." It is mostly funded by taxes and is open to all citizens and permanent residents. Primary care, which is supplied by general practitioners (GPs) and community health services, and secondary care, which is delivered by hospitals and specialists, are the two main components of the healthcare system. Some prescription medications and medical procedures are also subsidized by the government. Overall, New Zealand's healthcare system is regarded as high-quality and efficient. The government devotes a sizable percentage of its money to healthcare. The actual amount varies from year to year, although it is normally approximately 7-10% of the country's GDP. From 1960 through 2021, New Zealand's GDP averaged $70.35 Bn, reaching an all-time high of $249.89 Bn in 2021, with healthcare accounting for 9.47% of this total. The government's healthcare spending supports different areas of the healthcare system, including primary care, hospitals, prescription medications, and public health initiatives. The government also funds District Health Boards (DHBs), which are in charge of providing and managing healthcare services. In addition, the government has a budget for capital and operating funds for the health system. Overall, New Zealand's healthcare system is seen as well-funded and efficient, with a strong emphasis on primary care and preventive measures.

Private healthcare services are often regarded as an addition to the publicly supported healthcare system. While the government provides a wide range of healthcare services to citizens and permanent residents through a publicly funded system, some people prefer to enhance or supplement the services they receive through the public system. Private hospitals, clinics, and medical practices are examples of private healthcare services in New Zealand. People who want to bypass significant wait periods for particular procedures or treatments, or who want more control over their care, frequently employ these services. Many private healthcare facilities provide a broader choice of treatment alternatives, such as cosmetic surgery or orthodontics, that the public system may not provide. These services are financed by out-of-pocket payments, private health insurance, or part government funds for the old and underprivileged.

Because of the prevalence of comorbidities in this demographic, such as cardiovascular disease, dental health is frequently ignored among the elderly. However, dental health influences general health and quality of life by influencing both the individual's general health and psychological condition. The current analysis focuses on the most common dental comorbidities in the old population, their impact on quality of life, barriers to dental treatment in the elderly, and approaches to enhance their dental health. In order to detect and treat dental pathology, information about dental care and its value must be offered to both elderly people and their caretakers. Ensuring oral health requires the participation of the entire society, including elders, carers, dental care providers, the public sector, and health officials.

new zealand dental care market analysis

Market Dynamics

Market Growth Drivers

The population of New Zealand is predicted to expand in the next years, creating a growing market for dental services. As the population ages, demand for dental care for older persons, such as dentures and oral surgery, is expected to rise. As New Zealand's economy grows, people may have more spare income to spend on dental treatments. The New Zealand government has adopted a number of programs to enhance access to dental care for low-income and rural communities, which may present chances for dental businesses to extend their services. Dental firms can offer more advanced and efficient treatments to their patients as technology and materials progress, which could be another avenue for growth.

Market Restraints

The limited number of dental professionals in New Zealand (3336 practicing dentists in 2021) in a population of 5.12 Mn people. Certain locations of New Zealand may have a scarcity of dental practitioners, which may limit the availability of dental treatments in certain areas. In some places, high competition among dental clinics can limit the market potential for new practices. Limited dental insurance coverage might make it difficult for certain people to afford the care they require, restricting the potential market for dental services. Access to dental care in New Zealand can be hampered by linguistic and cultural barriers. In New Zealand, a lack of oral health awareness among specific population groups may reduce the demand for dental services.

Competitive Landscape

Key Players

  • Lumino The Dentists
  • Southern Cross Dental
  • Dentalcare Group
  • Dental Health Associates
  • Team Dental

Notable Recent Deals

February 2022 - BGH Capital and Tasman’s dental subsidiary Abano Healthcare have secured an agreement to purchase Bupa NZ's dental business, strengthening its market position in New Zealand. According to reports, Abano will add 22 clinics to its existing network through this deal, which operates under the 'Lumino' brand and includes more than 100 practices.

Healthcare Policies and Regulatory Landscape

The Health Practitioners Competence Assurance Act of 2003 established the Dental Council as a regulating entity. To protect the health and safety of New Zealanders, we ensure that oral health practitioners meet and maintain our requirements. Dental specialists, dental therapists, dental hygienists, oral health therapists, clinical dental technicians, dental technicians, and orthodontic auxiliaries are all regulated by us. The Dental Council protects public health and safety by requiring all oral health practitioners in New Zealand to achieve certain requirements before they may practice. The Standards Framework outlines the minimal ethical standards, clinical and cultural competency, and patient and public expectations of oral health practitioners. The ethical principles of oral health practice, adherence, and practice guidelines are the three components.

Reimbursement Scenario

In New Zealand, dental care services are primarily paid for out-of-pocket or through private health insurance. The reimbursement structure for dental care activities in New Zealand is based on a fee-for-service model. Some people can claim back some of the cost from their private health insurer or through government subsidies. For children and teenagers, there are some government subsidies that help to cover the cost of dental care. The Community Services Card (CSC) offers low-income families with subsidies for children and teenagers under the age of 18. The High-Cost Treatment Pool (HCTP) provides reimbursements for certain expensive dental treatments for persons who meet low-income or medical condition eligibility criteria. Most people pay for dental care through private health insurance or out-of-pocket payments. Some people prefer to get private health insurance to cover the expense of dental care services, while others pay for them out of pocket. Overall, dental care in New Zealand is mostly paid for out of pocket, with some government subsidies available for certain groups of people and some coverage accessible through private health insurance.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Dental Care Market Segmentation

By Product (Revenue, USD Billion):

In terms of product category, the toothbrush had the highest revenue share (26% in 2020). The rising incidence of cavities, sensitivity, and gingivitis has increased toothpaste usage significantly in both emerging and wealthy countries. As a result, toothpaste is now an essential part of good dental health. In the oral care sector, toothpaste thus commands the biggest market share.

  • Toothbrush
  • Toothpaste
  • Mouthwash
  • Dental Floss
  • Denture Care

By Age Group (Revenue, USD Billion):

Adults lead the oral care market over the projection period based on age group. The overall expansion of the oral care industry is being driven by adults' increasing consumer knowledge of mouth cleanliness and care. Adult oral care products come in a variety on the market.

  • Children
  • Adults
  • Geriatric

By Sales Channel (Revenue, USD Billion):

The specialty stores dominate the oral care market over the projection period based on the sales channel. Specialty shops carry a broad selection of goods. The employees of specialty businesses provide customers with precise product information. With the aid of specialty shops, customers can also find all types of dental care items under one roof.

  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Drug Stores &Pharmacies
  • Convenience Stores
  • Online Sales Channel

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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  • Segmentation and regional revenue forecasts
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Last updated on: 08 June 2023
Updated by: Vidhi Upadhyay

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