With a Massive CAGR of 21%, Teledermatology Market Size to surpass US$ 79.56 billion by 2030

Growth Plus Reports
Growth Plus Reports

Pune, Dec. 08, 2022 (GLOBE NEWSWIRE) -- As per the report published by Growth Plus Reports the Global Teledermatology Market was estimated at US$ 14.1 billion in 2021 and is expected to surpass a valuation of US$ 79.56 billion by 2030, progressing at a CAGR of 21% from 2022 to 2030. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.

The global teledermatology market is driven by the increasing prevalence of skin diseases, improving awareness, and easy access to dermatologists. Additionally, benefits such as low-cost and remote solutions aided by a growing number of smartphone users contribute to the growth of the global teledermatology market.

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Growth Drivers

Many doctors and dermatologists are shifting to provide virtual and tech-savvy care to patients, especially the new generation of medical practitioners. The main reason for turning towards teledermatology is its benefits to doctors and patients, allowing them to communicate remotely. Some of such benefits include: patients can frequently communicate with their dermatologist, hassle-free follow-up as medical history is easily accessible by patients and dermatologist, open access to any other dermatologist for a second opinion, and save the time of travel (mainly rural patients), and reduced wait hours. Patients feel more confident and safer while sharing their concerns with a dermatologist.

Teledermatology is a telemedicine service focusing on dermatology and skin care. Teledermatology communicates with doctors via a platform such as a smartphone, desktop pc, or another electronic device. The store and forward method (SAF) is most commonly used in teledermatology because it involves sending digital images and medical information to a dermatological consultant. The advantages of this method include that it does not require the simultaneous presence of both parties and does not usually necessitate the purchase of expensive equipment. Dermatologists and patients typically communicate via live videoconferencing in real-time/live interactive teledermatology applications.

The global teledermatology market has been analyzed from five different perspectives – type, end-user, and region.

Excerpts from 'By Type'

The global teledermatology market has been segmented into:

  • Store And Forward

  • Video Conferencing

  • Others

The store and forward method (SAF) is leading the global teledermatology market owing to its convenient feature for doctor consultation and being cost-effective as it saves travel expenses and time. Additionally, growing awareness about the technology, easily accessible medical history, and trending uptake of telemedicine in rural regions and undeveloped countries are fueling the global store and forward method teledermatology market. Video conferencing is also expected to show the highest growth during the forecast period as it is a real-time communication method, where doubt and concern are more conveyable, increasing trust. It is easy to monitor the patient.

Excerpts from 'By End User'

Based on end-user, the global teledermatology market has been segmented into:

  • Home Care

  • Healthcare Facilities

Homecare facilities are leading the global teledermatology market owing to low-cost and remote solutions to skin problems; it also avoids the need for unnecessary follow-ups and surgeries. Additionally, top players fuel the global teledermatology market by increasing demand for remote dermatologist consultation for acne, skin rash, and hair fall treatment and expanded digital and social media marketing investments.

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Excerpts from 'By Region Segmentation'

The global teledermatology market has been segmented into:

  • North America

  • Europe

  • Asia Pacific

  • Rest of the World

North America is currently the leading global teledermatology market. The large share of North America in the global teledermatology market can be attributed to rising skin diseases such as sunburn, skin cancer, etc., increasing players' count, adoption of telehealth services, and government initiatives to promote telemedicine. Additionally, the presence of developed infrastructure and government regulatory support contribute to the growth of North American teledermatology. The Asia Pacific is also expected to witness swift change in the upcoming years owing to increasing awareness about teledermatology services, digitalization and virtual healthcare services, and government initiatives for rural healthcare development.

Excerpts from 'Competitive Landscape'

The prominent players operating in the global teledermatology market are:

  • 3Gen Consulting

  • MetaOptima Technology Inc.

  • Digital Diagnostics Inc.

  • Maple, MDLIVE Inc.

  • Koninklijke Philips N.V

  • ClearArch, Inc.

  • AMD Global Telemedicine Inc.

  • Cisco Systems Inc.

  • Allscripts Healthcare, LLC

  • Advanced Telemed Services Pvt. Ltd.

  • Aerotel Medical Systems (1998) Ltd

  • Medtronic Plc.

  • Iris Telehealth Inc.

  • MDLIVE Inc.

Table of Content

  1. INTRODUCTION

    1. Market Ecosystem

    2. Timeline Under Consideration

      1. Historical Years – 2020

      2. Base Year – 2021

      3. Forecasted Years – 2022 to 2030

    3. Currency Used in the Report

  2. RESEARCH METHODOLOGY 

    1. Research Approach

    2. Data Collection Methodology

    3. Data Sources

      1. Secondary Sources

      2. Primary Sources

    4. Market Estimation Approach

      1. Bottom Up

      2. Top Down

    5. Market Forecasting Model

    6. Limitations and Assumptions

  3. PREMIUM INSIGHTS

    1. Current Market Trends (COVID-19 Perspective)

    2. Key Players & Competitive Positioning (2021)

  4. MARKET DYNAMICS

    1. Drivers

    2. Restraints/Challenges

    3. Opportunities

  5. GLOBAL TELEDERMATOLOGY MARKET - ANALYSIS & FORECAST, BY TYPE

    1. Store and Forward Method

    2. Video Conferencing

    3. Others

  6. GLOBAL TELEDERMATOLOGY MARKET - ANALYSIS & FORECAST, BY END USER

    1. Home Care

    2. Healthcare Facilities

TOC Continued……

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