Report Overview

The global teledermatology market was valued at US$ 14.1 billion in 2021 and is expected to witness a CAGR of 21% during the forecast period. 

Market Fundamentals 

Teledermatology is part of telemedicine service focusing specifically on dermatology and skin care. Teledermatology uses a mobile phone, computer, or other electronic devices to communicate with the doctor. In teledermatology, the store and forward method (SAF) method is commonly used as it entails sending digital images associated with medical information to a consulted dermatological specialist. The benefits of this method include that it does not require the presence of both parties at the same time and does not usually necessitate the purchase of expensive equipment. Dermatologists and patients communicate through live videoconferencing in real-time/live interactive teledermatology sessions. This mode requires more costly and sophisticated technology than the SAF mode, as both participants are present in real time. Teledermatology's major highlight is providing direct virtual contact with a doctor without waiting for long hours. It does not need to travel to a hospital until and unless it is a significant issue.

[5646453]

Market Dynamics

The global teledermatology market is driven by the increasing prevalence of skin diseases, growing awareness about telemedicine, and easy access to a specialist dermatologist. Additionally, low-cost remote solutions, a growing number of market participants, and reducing unnecessary appointments are contributing to the growth of the global teledermatology market. Another critical factor that drives the global teledermatology market is the growing number of smartphone users and increasing access to the internet around the world. In November 2021, the International Telecommunication Union (ITU) stated that around 4.9 billion people globally are using the internet. Furthermore, top market players have increased their digital and social media marketing investments to build extensive customer data. However, limited reimbursement policies, underdeveloped infrastructure in many countries, limited access to the internet, and storage issue of comprehensive data restrict global teledermatology market growth. 

Market Ecosystem

The global teledermatology market has been analyzed from four perspectives: types, end-user, and region.

Teledermatology Market by Type

[897868]

Based on type, the global teledermatology market has been segmented into the store and forward method, video conferencing, and others. The store and forward method (SAF) involves sending medical information and digital images to consult a dermatological specialist. SAF method is currently leading the global teledermatology market since it is the most convenient method, as it bypasses the need for both patient and doctor at the same time. It is a cost-effective method than face-to-face interaction and saves traveling costs. Additionally, easily accessible medical information for future reference, growing awareness about the technology, an increasing number of smartphone and internet users, and trending telemedicine in rural regions and undeveloped countries are pushing the global store and forward method teledermatology market. Video conferencing is also expected to show tremendous growth during the forecast period as it is easily accessible, it is real-time communication where patient concerns and feedback are more conveyable, and it improves the treatment and monitoring outcomes.   

Teledermatology Market by End-user

Based on end-user, the global teledermatology market has been segmented into home care and healthcare facilities. Homecare facilities are leading the global teledermatology market owing to increasing demand for remote doctor consultation, cost, and time-effective solutions. It minimizes avoidable follow-ups and surgeries.

Teledermatology Market by Region

Based on region, the global teledermatology market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America leads the global teledermatology market with the largest revenue share. The large share of North America in the global market can be attributed to the increasing adoption of telehealth services, key players, and government initiatives to promote telemedicine. Additionally, the swift uptake of advanced technologies facilitated by a developed infrastructure and government regulatory support contribute to the North American teledermatology market. In May 2020, the Kaiser Family Foundation stated that the United States government had given relaxation on telehealth restrictions during the COVID-19 pandemic. Health and Human Services (HHS) had waived Health Insurance Portability and Accountability (HIPAA) enforcement for telemedicine during COVID-19, while the Drug Enforcement Administration (DEA) had made changes that practitioners can prescribe regulated drugs to a patient using telemedicine, even if the patient is not present in the hospital.

Competitive Landscape

Some of the prominent players operating in the global teledermatology market are 

• 3Gen Consulting
• MetaOptima Technology Inc.
• Digital Diagnostics Inc.
• Maple
• MDLIVE Inc.
• Koninklijke Philips N.V
• ClearArch Inc.
• AMD Global Telemedicine Inc.
• Cisco Systems Inc.
• Allscripts Healthcare, LLC
• Advanced Telemed Services Pvt. Ltd.
• Aerotel Medical Systems Ltd.
• Medtronic Plc.
• Iris Telehealth Inc.
• MDLIVE Inc. 

Strategic Developments

• In March 2022, Medx Health and Health Partners announced an agreement to make Medx's teledermatology screening platform available to more than 2 million patients in the United Kingdom. MedX's cutting-edge skin assessment technology enables dermatologists to make more accurate diagnoses of pigmented lesions and moles remotely and quickly.
• In March 2021, NHSX received GBP 5m funding to enhance teledermatology services in England.
• In May 2022, Smart Health Innovation Lab and SkinIO launched virtual skin cancer screening in Lancaster County, Pennsylvania, U.S.

Frequently Asked Questions About This Report