Global Teledermatology Market

Global Teledermatology Market Size, Share, Growth Analysis, By Type(Services, Products), By Modality(Store-and-Forward (Asynchronous), Real-time (Synchronous)), By End Users(Healthcare Facilities, Home Care) - Industry Forecast 2024-2031

Report ID: SQMIG35A2192 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 88 | Figures: 76

Global Teledermatology Market News

  • In January 2022, MDLIVE launched the first virtual health monitoring program for chronic diseases. Patients with chronic diseases will be able to monitor biometrics like blood pressure and glucose levels using the digital-first initiative, capturing daily health information that they may discuss with MDLive clinicians during their appointments.
  • In May 2022, a patent by VigNet for precision health monitoring with digital devices was issued.
  • In June 2021, Hims& Hers bought Apostrophe, a dermatology start-up. Hims& Hers will be better able to provide individualized dermatology treatments to customers as a result of this acquisition.
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Teledermatology Market size was valued at USD 12.7 billion in 2019 and is poised to grow from USD 15.3 billion in 2023 to USD 67.43 billion by 2031, growing at a CAGR of 20.4% in the forecast period (2024-2031).

Due to the presence of large corporations, the Telemedicine business is moderately consolidated. As the business matures, market participants are concentrating on mergers and strategic alliances. To capitalize on and grow their market share, companies are making strategic decisions to develop new platforms. The emergence of teledermatology-focused businesses will increase market competition because of the growing number of startups and the extensive distribution networks of major corporations in developed and developing nations, the market is fragmenting. The key players operating in the market are FirstDerm, Maple, MetaOptima, Ksyos, Nihon3Gen, 3Derm, and others. 'MDLIVE Inc', '3Gen Inc.', '3M Health Information Systems', 'AMD Global Telemedicine, Inc.', 'Aerotel Medical Systems Ltd.', 'Canfield Scientific Inc.', 'Cisco Systems, Inc.', 'Clarity Imaging Technologies, Inc.', 'CompuGroup Medical AG', 'CureMD Healthcare', 'Dermatology Consultations, LLC', 'FirstDerm', 'Honeywell International Inc.', 'Medtronic', 'MetaOptima Technology Inc.', 'Philips Healthcare', 'Ping An Healthcare Management Co. Ltd.', 'Siemens Healthcare', 'Welch Allyn Inc.', 'Zipnosis Inc.'

Growing Patient and Provider Adoption of Telehealth Will Boost Market Growth

Artificial Intelligence (AI) will be used to drive market growth. The adoption of artificial intelligence is one of the key trends driving market growth. Healthcare organizations are rapidly expanding telemedicine systems and welcoming long-distance consultations. Through teledermatology, new developments in deep learning, a type of artificial intelligence (AI), have been used to diagnose cases of melanoma from lesion photos.

The market in North America is likely to be driven by the presence of numerous large-scale businesses such as Dermatologists On Call and MD Live, as well as significant government backing and an increase in teleconsultations. The COVID-19 epidemic has accelerated reforms and acceptance of telehealth by governments, doctors, health systems, and insurance firms across all regions, which is projected to drive the market in the forecast term. Even in India, which has lagged behind in telehealth reform, the Ministry of Health and Family Welfare, in collaboration with NITI Aayog, established official guidelines for telemedicine practices in March 2020.

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