Global Teledermatology Market to Surpass US$ 32,314.6 Million by 2028, Says Coherent Market Insights (CMI)

SEATTLE, Aug. 27, 2021 (GLOBE NEWSWIRE) — Global Teledermatology Market to Surpass US$ 32,314.6 Million by 2028, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global teledermatology market is estimated to be valued at US$ 7,374.5 million in 2021 and is expected to exhibit a CAGR of 23.5% over the forecast period (2021-2028).

Key Trends and Analysis of the Global Teledermatology Market:

Key trends in the market include increasing incidence of dermatological conditions, increasing approval of novel products, and increasing collaborations and acquisitions among key players. These key trends are expected to aid in growth of global teledermatology market.

For instance, according to the article published by the Clinical and Experimental Allergy Journal in November 2020, on the basis of epidemiological data collected from 2009 to 2018 in England it is estimated that the incidence of eczema, a chronic skin condition is around 15.0 per 100 people for infants younger than one year and 0.35 per 100 people for adults falling in the age group 40-49 years.

Moreover, increasing approvals of novel products is expected to drive the market growth over the forecast period. For instance, in May 2020, DermTech, a California based molecular diagnostic company launched telemedicine service for the use of its Pigmented Lesion Assay test by patients and physicians remotely at the comfort of their home. Pigmented Lesion Assay test is a non-invasive, adhesive patch test used for early detection of melanoma, a deadly and aggressive form of skin cancer.

Furthermore, key players operating in the global teledermatology market are focusing on adoption of inorganic growth strategies such as acquisitions, mergers, partnerships, and collaborations, in order to expand their market presence in the global market. For instance, in March 2019, 3Derm, a Boston based skin imaging and diagnostic solution provider and Draper Inc., Indiana based manufacturer and distributor of electronics announced collaboration to develop artificial intelligence based automated capabilities for skin imaging systems manufactured by 3Derm to be used for teledermatology.

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Key Market Takeaways:

The global teledermatology market is expected to exhibit a CAGR of 23.5% over the forecast period, owing to product launches and approvals. For instance, in April 2020, HEINE Optotechnik GmbH & Co. KG, a Germany based diagnostic instruments company launched two new dermatoscopes, DELTA 30 and DELTAone which can be used for teledermoscopy, a subset of teledermatology. Teledermoscopy involves usage of a digital camera attached to the dermatoscope for capturing images of skin lesions which can then be shared digitally with a skin consultant.

Among type, services segment is expected to account for largest market share in 2021, owing to market players focusing on launching new teledermatology services to enable remote consultation for skin conditions. For instance, in April 2021, APDerm, a U.S. based dermatology solutions provider announced launch of teledermatology services for virtual personalized treatment at the comfort of one’s home.

Competitive Landscape:

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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Market Segmentation:

  • Global Teledermatology Market, By Type:
    • Products
    • Services
      • Teleconsultation
      • Telemonitoring
      • Tele-education
  • Global Teledermatology Market, By Modality:
    • Store and Forward (Asynchronous)
    • Real Time (Synchronous)
    • Others (Others include Hybrid)
  • Global Teledermatology Market, By End User:
    • Hospitals and Clinics
    • Medical Universities
    • Homecare
  • Global Teledermatology Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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