Teledermatology Market Size to Grow at 24.3% CAGR and Hit USD 44.86 Billion till 2027; Driven by the Integration of Concepts such as AI and IoT, says Fortune Business Insights™

Pune, India, Feb. 26, 2021 (GLOBE NEWSWIRE) — The global teledermatology market size is projected to reach USD 44.86 billion by the end of 2027. The presence of several large scale companies in this sector will have a huge impact on the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Teledermatology Market Size, Share & COVID-19 Impact Analysis, By Type (Products & Services), By Modality (Store-and-forward (Asynchronous), Real-time (Synchronous) & Others) By End User (Healthcare Facilities, & Home Care), and Regional Forecast, 2020-2027,” the market was worth USD 4.83 billion in 2019 and will exhibit a CAGR of 24.3% during the forecast period, 2020-2027.Industry Developments:
May 2020 – DermTech announced the launch of a new telemedicine tool. The company introduced ‘DermTech Pigmented Lesion Assay,’ a telemedicine solution to enable remote use of its non-invasive adhesive patch test for melanoma detection.
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Teledermatology is the combination of telehealth and dermatology and involves concepts such as AI and IoT. It is one of the most popular applications of e-health and telemedicine and serves the purpose of transferring medical information across longer as well as shorter distances through audio, video, and data communication. The massive investments in teledermatology are consequential to the increasing applications as well as rising benefits of the product that are being maximized by several companies across the world.Subsequently, the presence of several large scale companies will emerge in favor of growth of this overall market in the coming years. The increasing popularity of teledermatology is attributable to the exceptional properties of the concept, coupled with its flexible application scope.An Overview of the Impact of COVID-19 on this Market :The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
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Teledermatology Manufacturers Among the Very Few Who Have Benefited from the Covid-19 PandemicThe recent coronavirus outbreak has created a sense of panic in several industries across the world. Accounting to the rapid spread of the disease, governments across the world are compelled to implement strict measures to curb the spread of the disease. As a result, people have been forced to stay indoors due to the strict lockdowns and social distancing practices implemented worldwide.Although the pandemic has had a daunting effect on several industries, that certainly hasn’t been the case for teledermatology companies. The surge in use of concepts such as telehealth and telemedicine has boded well for the growth of the overall teledermatology market in the past few months.North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid GrowthThe report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years.  The presence of several large scale companies in several countries across this region will emerge in favor of the regional market.The coronavirus outbreak will have a significant impact on the growth of the regional market in the coming years, particularly due to the rising demand for telemedicine tools in the past few months. It is likely that the increasing awareness regarding the use of online platforms even after the pandemic will encourage manufacturers in this region and this will subsequently influence the growth of the market in the foreseeable future. As of 2019, the market in North America was worth USD 2.04 billion and this value is projected to increase further in the coming years.
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List of companies profiled in the report:3GenKsyosMetaOptima3DermVigNet Inc.MapleMDLIVE Inc.CureSkinPing an Good DoctorFirstDermOther Players
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Table Of Content :IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsProportion of Healthcare Professionals using Telemedicine, 2019 & 2020Overview of Teledermatology ServicesOverview of Teledermatology Policies & Pilot Programs- For Key CountriesReimbursement and Legal Aspect OverviewNew Product LaunchTechnological Advancements in Teledermatology MarketStartups with their Funding OverviewKey industry Developments – Mergers, Acquisitions and PartnershipsImpact of COVID-19 on Teledermatology MarketGlobal Teledermatology Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypeProductsServicesTeleconsultationTelemonitoringTele-educationOthersMarket Analysis, Insights and Forecast – By ModalityStore-and-forward (Asynchronous)Real-time (Synchronous)OthersMarket Analysis, Insights and Forecast – By End UserHealthcare FacilitiesHome CareMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificRest of the WorldNorth America Teledermatology Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypeProductsServicesTeleconsultationTelemonitoringTele-educationOthersMarket Analysis, Insights and Forecast – By ModalityStore-and-forward (Asynchronous)Real-time (Synchronous)OthersMarket Analysis, Insights and Forecast – By End UserHealthcare FacilitiesHome CareMarket Analysis, Insights and Forecast –  By CountryU.S.Canada
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Global Teledermatology Market Segmentation :By TypeProductsServicesTeleconsultationTelemonitoringTele-educationOthersBy ModalityStore-and-forward (Asynchronous)Real-time (Synchronous)OthersBy End UserHealthcare FacilitiesHome CareBy GeographyNorth America (U.S. and Canada)Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)Rest of the World (RoW)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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