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The Global Teledermatology Market Size is valued at USD 10.85 Billion in 2023 and is predicted to reach USD 55.17 Billion by the year 2031 at a 22.73 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the report:
- The advent of big data is expected to cause artificial intelligence market growth, as a large volume of data needs to be captured, stored, and analyzed.
- The increasing demand for image processing and identification is expected to drive industry growth.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- One of the significant concerns restraining industry growth is the need for a large amount of data to train AI systems for character and image recognition.
Teledermatology is a robust approach that makes healthcare more accessible and cost-effective and improves patient participation dramatically. Teledermatology has grown in popularity due to the cost-cutting opportunities provided by technology. Increased population and the need to expand healthcare access, rising prevalence of chronic conditions and the cost-benefits of telehealth and teledermatology, physician shortage, advancements in telecommunication technology, government support, and rising awareness all contribute to the market's growth. Nonetheless, increased networking demand, demand for smart healthcare infrastructure, robotics in healthcare applications, and sensor-based devices are projected to present enormous potential for the teledermatology market throughout the projection period.
The growing demand for online education and remote consulting has boosted the sector, with many schools, such as Boston University, offering an online education and consulting platform. Several commercial health consulting firms also play critical roles in providing diagnosis services worldwide. Teledermatology's benefits and widespread use are significant growth drivers for the global teledermatology market. One of the primary causes driving the adoption of investments and teledermatology services in the telemedicine business is government measures to reduce healthcare costs and expand specialist health care.
Competitive Landscape
Some major key players in the Global Teledermatology Market:
- Aerotel Medical Systems Ltd.,
- MDLIVE,
- Visby Medical, Inc.,
- Ksyos,
- VigNet Inc.,
- Allscripts Healthcare, LLC,
- 3Derm,
- McKesson Corporation,
- CureSkin,
- Honeywell Life Care Solutions,
- MetaOptima,
- Philips Healthcare,
- 3Gen Consulting,
- AMD Global Telemedicine,
- GE Healthcare,
- First Derm
Market Segmentation:
Teledermatology is segmented on the type, modality and end-use. Based on type, the market is segmented into products and services (teleconsultation, telemonitoring, and tele-education). Based on modality, teledermatology is segmented into. Based on the modality, teledermatology is segmented into the store and forward (asynchronous), real-time (synchronous), and others (others include hybrid). Based on end-use, teledermatology is segmented into hospitals and clinics, medical universities, and home care.
Based on type, the services segment is a major contributor to teledermatology
The services sector is anticipated to develop the fastest. The wait times for various dermatologist services, including consultations, monitoring, and education services, are reduced through teledermatology platforms. The introduction of teledermatology, which drastically reduces patient wait times for services, has been facilitated by the inadequacy of dermatologists worldwide. The conveniences connected to virtual services have aided in the sector's expansion. During the projection period, the segment's growth is anticipated to be fueled by consumers' increasing awareness of teledermatology platforms.
The hospital & Clinics segment witnessed growth at a rapid rate.
Hospitals & clinics grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. The segment has grown due to the increased use of teledermatology platforms in hospitals and clinics. The demand for teledermatology platforms in hospitals has increased due to the increased government investments in adopting digital technologies.
North American teledermatology holds a significant revenue share in the region.
North American Teledermatology is expected to register the highest market share in revenue shortly. Due to the increased incidence of skin conditions, rising healthcare expenses, and improved access to healthcare facilities, the teledermatology market has grown in North America. Due to the expanding prevalence of different skin conditions in the US, teledermatology has become more necessary. Besides, Asia Pacific is anticipated to be the market with the most significant opportunity. The rising government initiatives to improve the healthcare sector and the rising adoption of telehealth and telemedicine are the main factors propelling the growth of the teledermatology market in the Asia Pacific.
Recent Developments:
- In January 2023, Teladoc Health introduced a fully integrated healthcare experience through a new comprehensive digital application enabling personalized whole-person care to individuals. Customers can now seamlessly access Teladoc Health's full spectrum of services, including primary care, mental health, and chronic condition management from one place and under a single portable account.
- In March 2022, Cheshire and Merseyside ICS introduced a suite of new teledermatology technology. It is part of an initiative to streamline the triaging and referral of dermatology patients.
Global Teledermatology Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 10.85 Billion |
|
Revenue Forecast In 2031 |
USD 55.17 Billion |
|
Growth Rate CAGR |
CAGR of 22.73% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Type, Modality, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Aerotel Medical Systems Ltd., MDLIVE, Visby Medical, Inc., Ksyos, VigNet Inc., Allscripts Healthcare, LLC, 3Derm, McKesson Corporation, CureSkin, Honeywell Life Care Solutions, MetaOptima, Philips Healthcare, 3Gen Consulting, AMD Global Telemedicine, GE Healthcare, and First Derm |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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