For instance, in April 2017, Hairline International Hair and Skin Clinic, an Indian trichology and skincare solution provider launched teledermatology services in India for the first time. The launch of teledermatology would enable the clinical practice of dermatology using artificial intelligence (AI) based software that will connect both the dermatologist and the patient over a digital platform.
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Moreover, in May 2021, Google introduced an AI based app called Derm Assist which would provide teledermatology services to the patients suffering from skin conditions. Derm Assist database consists of more than 288 skin conditions which could be matched with the photos of skin conditions clicked by the patient and diagnosis can be performed over the digital platform itself.
Global Teledermatology Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 197 million cases and 4.2 million deaths due to Coronavirus (COVID-19) were reported up till August 3, 2021, across the globe.
The COVID-19 pandemic has negatively affected several markets across the globe but is expected to fuel the demand and supply of teledermatology market owing to significant use of contactless dermatological care solutions during the COVID-19 outbreak in order to curb the spread of COVID-19.
For instance, according to an article published in the JAMA Dermatology Journal in March 2021, a survey has been carried out amongst dermatologists who are members of the American Academy of Dermatology (AAD) to find out the impact of COVID-19 on teledermatology and the future use of teledermatology. This survey revealed that prior to the COVID-19, only 14.1% dermatologists had used teledermatology in their routine dermatology care whereas during the pandemic 96.9% dermatologists reported usage of teledermatology. Live or real time teledermatology was the most common type of modality used by patients and dermatologists during teledermatology consultations.
Key players are focusing on inorganic growth strategies such as collaborations, partnerships, acquisitions, and others in order to strengthen their position in the market. For instance, in October 2020, Conversion Labs, Inc. (now LifeMD), a U.S. based telemedicine company collaborated with Restorsea LLC, a U.S. based provider of medical grade skin care products to develop a clinical grade skin care technology platform which would offer several teledermatology services under the new NavaMD brand.
Key Takeaways of the Global Teledermatology Market:
- The global teledermatology market is expected to exhibit a CAGR of 23.5% over the forecast period, owing to growing prevalence of skin disorders and skin cancer. For instance, according to the American Cancer Society, it is estimated that 106,110 new cases of melanoma, a skin cancer and 7,180 deaths due to melanoma would be reported in the U.S. during 2021.
- Among type, services segment is expected to hold the largest market share in 2021, owing to market players focusing on introducing innovative teledermatology services for providing virtual skin care solutions to patients. For instance, in April 2021, LifeMD (previously known as Conversion Labs, Inc.) launched its new teledermatology brand NavaMD which is focused on providing innovative dermatological care solutions to patients suffering from skin conditions such as rosacea, acne, signs of aging, hyperpigmentation, and others.
- Key players operating in the global teledermatology market include 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
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The Study Objectives are:
✔ A comprehensive insight into key players operating in the Teledermatology Market and their corresponding data.
✔ It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
✔ Regional analysis, which includes insight into the dominant market and corresponding market share.
✔ It also includes various socio-economic factors affecting the evolution of the market in the region.
✔ The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Reasons to buy this Teledermatology Market Report
☑ It attempts an analysis of the competing scenario.
☑ The current and exceptional product revenue market.
☑ An in-depth data on the regional investigation and competitive landscape structure.
☑ It benefits in creating an awareness of the important key product segments.
☑ The marketing strategies, opportunities, and development factors are explained.
☑ Teledermatology market size estimation and recent advancements in the industry are explained.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Teledermatology Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Teledermatology Industry Impact
Chapter 2 Global Teledermatology Competition by Types, Applications, and Top Regions and Countries
2.1 Global Teledermatology (Volume and Value) by Type
2.3 Global Teledermatology (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Teledermatology Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Teledermatology Market Analysis
Chapter 6 East Asia Teledermatology Market Analysis
Chapter 7 Europe Teledermatology Market Analysis
Chapter 8 South Asia Teledermatology Market Analysis
Chapter 9 Southeast Asia Teledermatology Market Analysis
Chapter 10 Middle East Teledermatology Market Analysis
Chapter 11 Africa Teledermatology Market Analysis
Chapter 12 Oceania Teledermatology Market Analysis
Chapter 13 South America Teledermatology Market Analysis
Chapter 14 Company Profiles and Key Figures in Teledermatology Business
Chapter 15 Global Teledermatology Market Forecast (2022-2028)
Chapter 16 Conclusions
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