Global Teledermatology Market Size to Grow at a CAGR of 22.4% in the Forecast Period of 2023-2028

The ‘Global Teledermatology Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global teledermatology market, assessing the market on the basis of its segments like type, modality, service provider, end use, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

Teledermatology Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 22.4%

The global teledermatology market is projected to grow at a rapid rate, driven by the increasing prevalence of skin conditions such as acne, among others that require specialised dermatological care. Surging requirements of dermatological care coupled with the need to improve patient access has increased the stress placed upon dermatological services which in turn has led to an increase in demand for teledermatology. With teledermatology, quality of medical assistance provided to people residing in remote and rural areas is enhanced considerably.

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Another factor driving the growth of the market is increased availability and affordability of internet and smartphones. With the easy availability of smartphones and fast speed internet, patients from any location can access teledermatology services without requiring the patients to physically travel and meet the dermatologists. Good quality smartphones also support video calling and high definition photography, enabling patients to show skin concerns directly to the dermatologists and receive accurate recommendations.

Increasing awareness among patients with regards to the low costs of teledermatological treatments and diagnosis is also driving the growth of the market, as more patients are seeking dermatology care. In addition, their time efficient and convenient nature is contributing to their popularity, which in turn is driving the growth of the teledermatology market.

Teledermatology Industry Definition and Major Segments

Teledermatology is a subfield of dermatology that is based on the telemedicine model involving the use of tele-communication technology for conveying medicinal information across varying distances. Teledermatology has applications in various domains of healthcare management such as consultation, education, diagnosis, and treatment. It is commonly used between dermatologists, between a student and a dermatologist, and between a patient and a dermatologist.

By type, the market is bifurcated into:

• Products
• Services

Based on modality, the market is segmented into:

• Store and Forward Method
• Video Conferencing
• Others

On the basis of service provider, the market is classified into:

• Telecommunication
• Health Informatics

By end use, the market is divided into:

• Healthcare Facility
• Home Care
• Others

Based on region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Teledermatology Market Trends

The key trends in the global teledermatology market include increased applications of artificial intelligence in the healthcare sector. Various domains in the healthcare sector are adopting teledermatology and embracing virtual consultations. Increased application of interactive, and store and forward (SAF) teledermatology due to their improved diagnostic concordance and patient satisfaction is another crucial trend in the market for teledermatology. Decreased referral time and effective triage along with the usefulness of teledermatology in follow-ups of chronic skin diseases including chronic ulcers are expected to significantly contribute towards the growth of the market for teledermatology.

Rapid digitalisation of the healthcare sector across the globe coupled with provision of accessible and affordable healthcare services is another key trend in the market for teledermatology. Increased prevalence of chronic skin conditions and lack of availability of healthcare professionals and organisations locally is also contributing towards the growth of the market. Additionally, adoption of unique business models by key players such as online patient consultations with dermatologists along with the provision of personalised treatment plans is boosting the growth of the market. Another major trend in the teledermatology market is increasing initiatives by various governments to create awareness regarding the teledermatology.

Key Market Players

The major players in the global teledermatology market report are

• Hims & Hers Health, Inc.
• Miiskin ApS
• Sakhiya Skin Clinic
• MetaOptima Technology Inc.
• MapleDerm
• First Derm
• OnlineDoctor
• Dermatologist On Call Inc
• MDLIVE Medical Group
• DermView Limited
• Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.