According to Coherent Market Insights, the global teledermatology market size is estimated to be valued at USD 15.4 billion in 2024 and is expected to surpass USD 104.5 billion by 2031, growing at a CAGR of 31.5% from 2024 to 2031. The teledermatology market is compelled by the growing incidences of different skin diseases. Moreover, a large percentage of elderly people today are at risk of having age-related skin diseases including psoriasis, eczema, skin cancer, acne, and dermatitis. The American Academy of Dermatology states that around 100 million people in America suffer from a type of skin disease every single year.
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Furthermore, lack of dermatologists is an additional contributing factor fueling the growth of teledermatology market. For example, research by the American Academy of Dermatology in March 2021 showed that there is a lack of dermatologists in the U.S. and this is projected to keep on worsening. Teledermatology helps close this gap by offering the possibility of receiving dermatological consultations and treatment via the internet.
Market Trends:
Integration of advanced
technologies into teledermatology: Integration of advanced technologies such as
artificial intelligence, augmented reality, and 3D imaging is also gaining traction.
This is expected to further improve the diagnosis and treatment. Teledermatology Market Report
Coverage Report Coverage Details Market Revenue in 2024 $15.4 billion Estimated Value by 2031 $104.5 billion Growth Rate Poised to grow at a CAGR of 31.5% Historical Data 2019–2023 Forecast Period 2024–2031 Forecast Units Value (USD Million/Billion) Report Coverage Revenue Forecast, Competitive Landscape,
Growth Factors, and Trends Segments Covered By Type, By
Application, By Modality,By End User Geographies Covered North America, Europe, Asia Pacific, and
Rest of World Growth Drivers • The increasing prevalence of skin
diseases • The growing popularity of mobile
health (mHealth) technology • The high adoption of connected
devices • The shortage of dermatologists Restraints & Challenges • The licensure and credentialing
issues • The data privacy and security
concerns Increasing healthcare provider
acceptance: There is growing acceptance of teledermatology among healthcare
providers and physicians. Many providers have begun using teledermatology for
routine follow-ups as well as to provide chronic disease management for
conditions such as acne, eczema, and psoriasis. This is positively impacting
the market growth.
The Market
Opportunity: As technology progresses, new
teledermatology products introducing dermatoscopes, skins monitors, and
software suites which enable the remote diagnosis of skin disease are released
into the market. A number of dermatologist practitioners are now joining the
trend in the practice with the coming of the new handheld dermatoscopes that
can connect to mobile phones. There are companies that also create all-in-one
products that provide teleconsultation and incorporates other services in order
to enhance accessibility to patients. Immediate Delivery Available |
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The homecare settings segment is
expected to have the highest growth during the forecast period. Its growth can
be credited to the increased emphasis on virtual medicine and remote patient
follow-ups during the time of the epidemic. Such services are becoming popular
with patients enabling them to see a dermatologist over a computer or other
devices and email photographs for diagnosis and treatment. Such services are
convenient, help in saving time and money, and make it unnecessary to go to the
hospital for minor skin problems. Different companies are intensifying their
virtual sites to allow the ordering and recommendation of dermatology treatment
by a physician over the internet.
Key Market Takeaways: During the period from 2024 to
2031, the teledermatology market is anticipated to experience a growth rate of
31.5% because of the growing number of skin disorders and increased funding in
telehealth. Among
the products segment, teledermatology products is likely to be the largest
contributor due to the ongoing technological development of dermatoscope
devices and teleconsultation software bundles. By
application, the skin care segment contributes the largest share and this
segment is expected to reach over US$ 7 billion by 2031, triggered by a rising
preference for remote treatment of acne, wrinkles, and sun skin damage. By region, North America dominates
owing to favorable reimbursement policies, internet connectivity and rising
investments in telehealth platforms by key players. Collaboration activities
are increasing among these players to develop advanced virtual care solutions. Competitor Insights - MDLIVE - Aerotel Medical Systems Ltd. - Visby Medical Inc. - Ksyos, - Vignet Inc. - Cureskin - Honeywell Lifecare solutions - AMD Global telemedicine - GE Healthcare - FirstDerm Recent
Developments: In March
2023, MDLIVE launched a new teledermatology platform.
that
This platform enables patients to
receive virtual consultations and personalized treatment plans from certified
dermatologists. In February 2023, Visby
Medical Inc. received the U.S. FDA clearance for its rapid
diagnostic test for skin infections. This test enhances its teledermatology
offerings by allowing healthcare providers to diagnose conditions remotely. In January 2023, Aerotel
Medical Systems Ltd. expanded its telehealth services to include
dermatological consultations, providing patients with access to specialized
care from home. Ask For Customization @ https://www.coherentmarketinsights.com/insight/request-customization/4596
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Senior Client Partner – Business Development
Coherent Market Insights
