Pune, India, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The global Teledermatology market size was valued at USD 8.06 billion in 2022 and is projected to reach a valuation of USD 8.65 billion in 2023. The market is expected to reach USD 24.88 billion by 2030 with a CAGR 16.3% during the forecast period. Teledermatology refers to the usage of communication technologies for dermatology to expand the reach of the discipline. It focuses on store-and-forward (asynchronous) and includes storage of images on digital devices such as smartphones and computer and then transferred electronically. The incorporation of artificial intelligence is set to drive the market growth. Fortune Business Insights shares this information in its report titled “Global Teledermatology Market, 2023-2030.
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Key Industry Development:
January 2022: Doctolib acquired Tanker to help Doctolib work on a new standard for online medical secrecy.
Key Takeaways:
- In May 2022, Nurithm Labs partnered with the All India Institute of Medical Science (AIIMS) to develop an AI-driven app aimed at aiding in the diagnosis of skin diseases.
- According to a 2022 article from the National Institutes of Health (NIH), approximately 94 million people in Europe experience distressing skin sensations.
- The market is categorized into services and products based on type.
- As of 2022, the market size in North America was recorded at USD 3.71 billion.
Discover the Leading Players Featured in the Report:
3Gen (U.S.), Ksyos (Netherlands), MetaOptima (Canada),3Derm (U.S.), VigNet Inc.(U.S.), Maple (Canada), MDLIVE Inc. (U.S.), CureSkin (India), Ping an Good Doctor (China), FirstDerm (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 16.3% |
| 2030 Value Projection | USD 24.88 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 8.65 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 199 |
| Segments covered | By Type, Modality, End-user, and Region |
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Segmentation:
Services Segment to Dominate Due to Shortage of Dermatologists
On the basis of type, the market is divided into services and products. The services segment dominated in 2022 due to shortage of dermatologists in various countries, which led to an increase in the average waiting time for consultation. This resulted in the increasing adoption of virtual visits in several hospitals. The services segment is further sub divided into teleconsultation, telemonitoring, tele-education, and others.
Store-and-Forward (SAF) Segment Held Dominant Share Owing to its High Dependency
By modality, the market is classified into store-and-forward (asynchronous), real-time (synchronous), and others. The store-and-forward (SAF) segment is expected to dominate during the forecast period as teledermatology is highly dependent on SAF as it enables the images of the skin become necessary for diagnosis.
Homecare Segment Held Dominant Share Due to Significant Cost-Saving in Health Expenditure
By end-user, the market is classified into healthcare facilities and homecare. The homecare segment is expected to dominate during the forecast period due to significant cost-saving in health expenditure and rapid adoption of homecare services.
Based on geography, the market is studied across North America, Europe, Asia Pacific, and The Rest of the World.
By Type
- Products
- Services
- Teleconsultation
- Telemonitoring
- Tele-education
- Others
By Modality
- Store-and-forward (Asynchronous)
- Real-time (Synchronous)
- Others
By End-user
- Healthcare Facilities
- Homecare
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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Driving factor:
Increasing Cases of Skin Conditions to Drive Market Growth
Increasing cases of skin conditions are anticipated to drive the teledermatology market growth. There has been a significant rise in skin diseases such as skin cancer, eczema, and psoriasis. Teleconsultation offers fast and high quality dermatological care, where teleconsultation is proven to be a solution to minimizing the impact of growing consultations and shortage of dermatologists. The growing adoption of telehealth amongst the patients and providers is set to drive market growth during the forecast period.
Regional insights:
North America Held the Largest Share Due to Major Presence of Key Market Players
North America is expected to lead the teledermatology market share due to the presence of various market players. The market was valued at USD 3.71 billion in 2022 due to strong government support and increasing teleconsultations in the region.
The Europe market held the second-largest regional market in 2022 with the rising strategies of key market players. Introduction of AI-based teleconsultation services propels the market growth in the region.
Competitive Landscape
Growing Focus on Strategic and Research Initiatives by Key Players to Drive Market
Development
The market has MetaOptima, Ksyos, Nihon 3Gen, 3Derm, FirstDerm, and Maple, owing to the robust number of practitioners, services, and strong foothold. There has been a growing focus on strategic and research initiatives.
FAQs
How big is the Teledermatology Market?
Teledermatology Market size was USD 8.65 billion in 2023.
How fast is the Teledermatology Market growing?
The Teledermatology Market will exhibit a CAGR of 16.3% during the forecast period, 2023-2030
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