According to Precedence Research, the global teledermatology market size is expected to hit US$ 67.43 billion by 2030 from valued at US$ 12.70 billion in 2021, growing at a CAGR of 20.4%.
According to Precedence Research, the global teledermatology market size is expected to hit US$ 67.43 billion by 2030 from valued at US$ 12.70 billion in 2021, growing at a CAGR of 20.4%.
Growth Factors
The main factor driving the growth of the global teledermatology market is rising incidence of skin disorders. The skin related issues are one of the severe type of disorders prevailing in the market. The skin diseases can be caused to any type of individual of any age group. This factor is driving the expansion of the global teledermatology market over the projected period. Another factor propelling the growth of the global teledermatology market is growing technological advancements and innovation in software technologies. The adoption of technologies such as blockchain, artificial intelligence, and internet of things are creating lucrative opportunities for the expansion of the global teledermatology market.
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In addition, the rising investments in research and development in the fields of telemedicine and telehealth by government agencies are propelling the growth of the global teledermatology market. The stringent regulations by government are also increasing the demand for teledermatology globally. Furthermore, the growing consultancy industry is also creating growth prospects in the global teledermatology market. The teledermatology market is helping to get effective consultancy and advice from the skin doctors or dermatologists. The skin disorders are such diseases which require quick and accurate treatment and diagnosis. The integration of data analytics with the teledermatology platforms is also boosting the demand for teledermatology market. As a result, all of these drivers are boosting the expansion of the teledermatology market around the world.
Report Highlights:
- Based on the type, the servicessegment dominated the global teledermatology market in 2020 with largest market share. The teledermatology is one of the efficient types of digital services. The teledermatology services save time for patients as well as dermatologists.
- On the basis of modality, the store and forwardsegment holds the largest market share the global teledermatology market in 2020.The store and forward modality enable capturing of proper images and pictures of skin. This helps doctors to treat and diagnose their patients effectively.
- Based on the end user, the healthcare units segment dominated the global teledermatology market in 2020 with largest market share. The teledermatology platforms are increasingly adopted and utilized in healthcare centers such as specialist clinics and hospitals. This has reduced hospital visits on a large scale.
- North America is the largest segment for teledermatology market in terms of region.The factors such as growing prevalence of skin disorders, technological advancements, and rapid digitalization are driving the growth of the teledermatology market in North America region.
- Asia-Pacific region is the fastest growing region in the teledermatology market.The growth of the teledermatology market in Asia-Pacific region is mainly driven by rising adoption of telehealth platforms and favorable government regulations.
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Future of Teledermatology Market
The concept of the teledermatology is gaining momentum due to the growing acceptance and adoption of telehealth solutions and platforms. The telehealth is changing face of each and every sector of the healthcare industry. The dermatology is kind of study and research, which helps in the treatment and diagnosis of skin related problems. The skin related problems can cause to any age group people. Thus, this is creating need for teledermatology in the global market. Moreover, rather than visiting doctor personally, they are more comfortable to discuss their issues through the teledermatology platforms. As a result, due to all these reasons, the growth of the global teledermatology market is expected in upcoming years.
COVID-19 Impact Analysis:
- The COVID-19 pandemic had bought significant change in healthcare sector.
- The whole healthcare sector went online during the pandemic. This resulted into the need and requirement of adopting telehealth platforms.
- Similarly, there was surge in demand for the teledermatology solutions and platforms.
- This factor provided positive outlook for the growth of the global teledermatology market during the coronavirus outbreak.
Key Developments in the Marketplace:
- Hims and Hers declared the purchase of dermatology company Apostrophe in June 2021. This agreement allowed the company to expand its dermatology footprint and provide innovative and individualized dermatology treatments to customers faster.
- The Ministry of Health and Family Welfare and the NITI Aayog released an official recommendation for the usage of telemedicine in India in March 2020. The use and growth of the teledermatology platforms in India will be aided by this.
- Sakhiya Skin Clinic in India declared the availability of free skin care treatment through the teledermatology platforms in April 2020.
- Integrated Dermatology, a medical and cosmetic solutions provider based in the U.S., introduced its new teledermatology virtual service in March 2020 to deliver a real time video consultation with a dermatologist for skin disorders.
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Segments Covered in the Report
By Type
- Products
- Services
- Teleconsultation
- Telemonitoring
- Tele-education
- Others
By Modality
- Store-and –Forward
- Video Conferencing
By End User
- Healthcare units
- Homecare
By Geography
- North America
- Europe
- Asia Pacific
- MEA
- Rest of the World
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