Rising incidences of dermatological conditions are expected to drive the market at a healthy CAGR of 20.8% during the forecast period of 2022 to 2030.

Pune, India, May 2022/MRFR Press Release/- Market Research Future has published its half-cooked research report on the global teledermatology market.

Teledermatology Market Highlights

According to MRFR analysis, the global teledermatology market is expected to register a CAGR of 20.8% from 2022 to 2030 and hold a value of over USD 65.64 Billion by 2030.

The factors influencing the market's growth, such as the rising geriatric population and advanced technology and innovations, Furthermore, strategic alliances among players are propelling the market's growth. For instance, in March 2022, MedX Health Corp. (Canada) announced a Memorandum of Understanding (MOU) and launched a new teledermatology commercialization pilot project with Health Partners (OH) Limited (UK). The MedX DermSecure Screening Platform will be available to Health Partners' more than two million patients if the pilot is successful. This collaboration will help to expand the market in Europe and North America.

Regional Analysis

North America is attributed to holding the largest share during the forecast period due to factors such as rising government initiatives to decrease health care costs and to increase specialty health care. Furthermore, the rise in the geriatric population requires a larger dermatology workforce. According to the American Academy of Dermatology Association, older people require 34% of dermatologists, and this percentage is expected to rise to 42% by 2034. Hence, the shortage of dermatology workers in the upcoming years will boost the demand for teledermatology.

Europe is projected to dominate the region during the forecast period owing to the rapid digitalization in healthcare and the rise in virtual healthcare delivery platforms for accurate diagnostics and patient therapy management. Moreover, high innovations in information and communication technology are propelling the region's growth.

Asia-pacific is expected to witness the fastest growth in the market due to the increasing senior population and the rising number of chronic dermatological conditions. Moreover, increasing government support and campaigning to spread awareness of teledermatology are fueling the region's growth. For instance, in April 2020, the Sakhiya Skin clinic in India conducted a free skin care treatment campaign to spread awareness regarding teledermatology. Hence, such initiatives are expected to drive regional market growth.

Additionally, the rest of the world, which comprises the Middle East, Africa, and Latin America, is attributed to showing sluggish growth due to a lack of innovation in the field of digital health, doctor and patient resistance, and a lack of information technology training is associated with the low adoption of teledermatology. Furthermore, health initiatives focusing on health education and health promotion and increasing public awareness of the benefits of teledermatology services are propelling the region's growth.

Explore In-depth Details: Teledermatology Market Research Report

Teledermatology Market Segmentation

The global teledermatology market has been segmented into type, modality, and end user.

The market has been segmented into products and services based on type. The services segment is further segmented into tele-consulting, telemonitoring, tele-education, and others. The services segment is projected to dominate the market owing to the feasibility and effectiveness of dermatoscopes and increasing incidences of skin diseases.

Based on modality, the market has been bifurcated into the store, forward, and real-time. The store & forward is expected to witness lucrative growth during the forecast period due to a dearth of dermatologists and rising incidences of skin diseases across the globe.

Based on end users, the market has been segmented into payers, providers, and patients. The providers segment is credited with dominating the market growth due to the increasing adoption of teledermatology and rising chronic skin conditions.

Key Players

Some of the key market players are DermTech, Inc. (US), OnlineDoctor (Switzerland), Hims & Hers (US), Digital Diagnostics (US), MetaOptima (Canada), MDLIVE Inc. (US), CureSkin (India), Miiskin PRO (Denmark), FirstDerm (US), and 3Gen (US)