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Tele dermatology Market

Tele dermatology Market By Component (Software and Services); By End User (Providers, Payers, Patients and Other End Users); By Application (Tele-radiology, Tele-consultation, Tele-ICU, Tele-stroke, Tele-psychiatry, Tele-dermatology and Other Applications) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2032

Published on: May-2023
Report Code: FG HC 00305
No. of Pages: 179
Report Format: PDF

Product Overview:

Teledermatology Market size was USD 13.24 billion in 2021 and projected to grow from USD 19.7 billion in 2023 to USD 121.9 billion by 2032, exhibiting a CAGR of 22.4% during the forecast period.

Teledermatology is a branch of telemedicine which focus on supplying remote dermatological consultation and services by utilizing telecommunication technologies. It involves utilizing digital imaging, video conferencing, and other telecommunication methods to provide efficient diagnosis and treatment options for different skin conditions. Teledermatology is a way of interaction of patients with dermatologists via virtual consultations, where the skin concerns are conveyed by sharing images or videos and receiving treatment recommendations.

Market Highlights

Teledermatology Market is expected to project a CAGR of 22.4% during the forecast period, 2022-2032

Teledermatology Market is expected to reach USD 121.9 billion, growing at a CAGR of 22.4% during forecast period owing to the increasing advancements in technology like communication via video conferencing and easy access to high-speed internet which are expected to boost the growth of the market. Several new software applications are introduced which made consultations and communication easy. This increased the scope of real-time interaction and safe exchange of information between healthcare providers and patients. The low availability of of dermatologists is boosting the demand for teledermatology services.

 

Teledermatology Market Segmentation:

Services segment is expected to grow with high CAGR during the forecast period

Teledermatology Market is classified based on the Type into Products, Services. The services segment is further classified into Tele-consulting, Tele-education, Tele-monitoring, Others. The services segment dominated the market in 2021 and is expected to dominate the market during the forecast period owing to the services, teleconsultation and telemonitoring which aid in reducing the stand-by time for diagnosis. The deficit of dermatologists is also expected to boost the demand for services segment in the teledermatology market.

Store-and-forward segment expected to grow with high CAGR during the forecast period

Teledermatology Market is classified based on the Modality into Real-time (Synchronous), Store-and-forward (Asynchronous), Others. The Store-and-forward segment dominated the market in 2021 and is expected to dominate the market during the forecast period. Teledermatology necessarily require good quality images for diagnosis purpose which totally depend upon Store-and-forward modality. The growing use of teledermatology for second option along with the appreciating government support is expected to boost the growth of segment in the market.

Market Dynamics:   

Growth Drivers

Increasing Acceptance of Telehealth is Expected to Boost the Growth of the Market

The acceptance of Telemedicine including teledermatology in the patients and healthcare providers is expected to boost the growth of the market. Most of the developing countries are even preferring insurance coverage for telehealth services which also helped in the growth of the market. The increased development in technology has resulted in creating new software solutions to help video telehealth resulting in providing virtual care for any user. This is expected to boost the growth of the teledermatology market in the forecast period.

High Incidence of Skin Diseases is Expected to Boost the Growth of the Market

There has been rise in occurrence of skin issues like psoriasis, eczema and skin cancers which is leading to the growing demand for dermatological services and after the pandemic, the preference of people opting for telemedicine had increased. This had created positive impact for the growth of the teledermatology market due to the ease of convenience for population.

Restraint

Improper Reimbursement Facilities May Restrain the Growth of the Market

The unfavourable reimbursement policies for teledermatology mostly in developing countries is expected to restrain the growth of the teledermatology market.

Recent Developments:

  • In June 2021, Hims & Hers declared acquisition of Apostrophe which will aid in scaling up in dermatology and to provide with modern and customized dermatology treatments.
  • In April 2020, Sakhiya Skin Clinic reported the introduction of teledermatology based cost-free skin care treatment.

Teledermatology Market

Key Players Covered:

(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Teledermatology Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America region dominated the market in 2021 owing to the presence of key market players in the region which is creating the demand for the tele-consultation market. The increase in prevalence of several skin diseases and better access to healthcare aided in the growth of the market. Asia Pacific region is expected to dominate the market during the forecast period owing to the improved healthcare initiatives by government to improve the healthcare field & increasing adoption of telehealth and telemedicine which are expected to boost the growth of the market during forecast period.

Impact of Covid-19 on Teledermatology Market

The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and applied travel restrictions to control the spread of the virus. The acceptance of teledermatology had increased during the pandemic for maintaining social distance and due to lockdowns. Due to the covid-19 pandemic there was reduction in direct consultation to half. Online consultations had increased due to increased patients’ acceptance. The pandemic had positive impact on the growth of Teledermatology Market.

Teledermatology Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Teledermatology Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2018-2032

Base Year

2022

Forecast Period

2021-2032

Historical Period

2019-2021

Growth Rate

CAGR of 22.4% from 2022-2032

Unit

Value (USD Billion)

Segmentation

Main Segments List

Type

  • Products
  • Services

Modality

  • Real-time (Synchronous)
  • Store-and-forward (Asynchronous)
  • Others

Application

  • Ambulatory Centers
  • Clinics
  • Hospitals
  • Medical Universities and Colleges
  • Other

End User

  • Healthcare Facilities
  • Home Care
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Scandinavia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions (FAQ):

Teledermatology Market size was estimated at USD 13.24 billion in 2021 and is expected to reach USD 121.9 billion in 2032.

Teledermatology is a branch of telemedicine which focus on supplying remote dermatological consultation and services by utilizing telecommunication technologies. It involves utilizing digital imaging, video conferencing, and other telecommunication methods to provide efficient diagnosis and treatment options for different skin conditions.

Services and Store-and-forward segment accounted for the largest Teledermatology market share.

Key players: Dermlink, Philips Healthcare, GE Healthcare, AMD Global Telemedicine INC, Aerotel Medical Systems, Allscripts Healthcare Solutions Inc., Honeywell Life Care Solutions, McKesson Corporation, 3Derm, CureSkin, MetaOptima and Other Prominent Players are the key players in the Teledermatology Market.

Increasing Acceptance of Telehealth and High Incidence of Skin Diseases are the factors driving the Teledermatology market.

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