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Teledermatology Market to Reach $44.86 Billion by 2027; Presence of Several Large Scale Companies Will Provide Impetus to Market Growth, says Fortune Business Insights™

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Pune, Aug. 26, 2020 (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.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.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.The emergence of the COVID-19 pandemic has caused heavy losses for a large number of companies worldwide. It has disrupted the supply chain and halted production processes. Most of the healthcare companies are persistently striving to invent a vaccine to stop this deadly pandemic. Our report would provide authentic information about the current scenario of every market.
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The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing investments in product R&D and the increasing number of product launches have made the highest impact on the growth of the market in recent years.The rising investments will also open up a flexible application scope, therefore creating a broader growth spectrum for the companies operating at a global as well as regional level. In April 2020, Sakhiya Skin Clinic announced the launch of free skin care treatment facilities across India.This step was taken to address the Covid-19 pandemic but since it has gained huge popularity in a very short time, this initiative will help the company grow rapidly in the coming years. Such efforts taken to maximize the use of teledermatology will have a massive impact on the growth of the overall market in the foreseeable future.
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The 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.3GenKsyosMetaOptima3DermVigNet Inc.MapleMDLIVE Inc.CureSkinPing an Good DoctorFirstDermOther PlayersIndustry 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.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 TypeProductsS.ervicesTeleconsultationTelemonitoringTele-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 WorldTOC Continued….!

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Have a Look at Related Reports:Telemedicine Market Share and Global Trend By Type (Products, Services), By Application (Teleradiology, Telepathology, Teledermatology, Telepsychiatry, Telecardiology, Others), By Modality (Store-and-forward (Asynchronous) , Real-time (Synchronous), Others) and Geography Forecast till 2026Revenue Cycle Management Market Share and Global Trend By Structure (In-house Outsource) By Function (Claims & Denial Management, Medical Coding & Billing, Clinical Documentation Improvement (CDI), Insurance, Others) By Type (Software, Services) and Geography Forecast till 2026ePharmacy Market Share and Global Trend By Product (Over-the-Counter Products, Prescription Medicine) and Geography forecast till 2026Telehealth Market Share and Global Trend By Type (Products, Services), By Application (Telemedicine, Patient Monitoring, Continuous Medical Education, Others), By Modality (Store-and-forward (Asynchronous), Real-time (Synchronous), Remote Patient Monitoring), By End User (Healthcare Facilities, Homecare, Others), and Geography Forecast till 2026About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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