Theglobal 'Teledermatologymarket 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 hugeimpact on the growth of the overall market in the coming years. According to areport published by Fortune Business Insights, titled “Teledermatology MarketSize, 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 aCAGR of 24.3% during the forecast period, 2020-2027.
Teledermatologyis the combination of telehealth and dermatology and involves concepts such asAI and IoT. It is one of the most popular applications of e-health andtelemedicine and serves the purpose of transferring medical information acrosslonger as well as shorter distances through audio, video, and datacommunication. The massive investments in teledermatology are consequential tothe increasing applications as well as rising benefits of the product that arebeing maximized by several companies across the world. Subsequently, thepresence of several large scale companies will emerge in favor of growth ofthis overall market in the coming years. The increasing popularity ofteledermatology is attributable to the exceptional properties of the concept,coupled with its flexible application scope.
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Teledermatology Manufacturers Among the Very Few Who HaveBenefited from the Covid-19 Pandemic
Therecent coronavirus outbreak has created a sense of panic in several industriesacross the world. Accounting to the rapid spread of the disease, governmentsacross the world are compelled to implement strict measures to curb the spreadof the disease. As a result, people have been forced to stay indoors due to thestrict lockdowns and social distancing practices implemented worldwide.Although the pandemic has had a daunting effect on several industries, thatcertainly hasn’t been the case for teledermatology companies. The surge in useof concepts such as telehealth and telemedicine has boded well for the growthof the overall teledermatology market in the past few months.
An Overview of the Impact of COVID-19 on this Market :
Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral 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.
Weare taking continuous efforts to help your business sustain and grow duringCOVID-19 pandemics. Based on our experience and expertise, we will offer you animpact analysis of corona virus outbreak across industries to help you preparefor the future.
Frequently Ask Question :
1) How much is the global teledermatologymarket worth?
Fortune Business Insights says that the global teledermatologymarket size was USD 4.83 billion in 2019 and is projected to reach USD 44.86billion by 2027.
2) What was the value of themarket in North America in 2019?
In 2019, the North America market value stood at USD 2.04 billion.
3) At what CAGR is the marketprojected to grow in the forecast period (2020-2027)?
Growingat a CAGR of 24.3%, the market will exhibit steady growth in the forecastperiod (2020-2027).
Increasing Number of Product Launches Will Emerge in Favor ofMarket Growth
Thereport encompasses several factors that have contributed to the growth of theoverall market in recent years. Among all factors, the increasing investmentsin product R&D and the increasing number of product launches have made thehighest impact on the growth of the market in recent years. The risinginvestments will also open up a flexible application scope, therefore creatinga broader growth spectrum for the companies operating at a global as well asregional level. In April 2020, Sakhiya Skin Clinic announced the launch of freeskin care treatment facilities across India. This step was taken to address theCovid-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. Suchefforts taken to maximize the use of teledermatology will have a massive impacton the growth of the overall market in the foreseeable future.
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North America to Emerge Dominant; Presence of Several Large ScaleCompanies to Aid Growth
Thereport analyses the ongoing market trends across five major regions, includingNorth America, Latin America, Europe, Asia Pacific, and the Middle East andAfrica. Among all regions, the market in North America is projected to emergedominant in the coming years. The presence of several large scale companies inseveral countries across this region will emerge in favor of the regionalmarket. The coronavirus outbreak will have a significant impact on the growthof the regional market in the coming years, particularly due to the risingdemand for telemedicine tools in the past few months. It is likely that theincreasing awareness regarding the use of online platforms even after thepandemic will encourage manufacturers in this region and this will subsequentlyinfluence the growth of the market in the foreseeable future. As of 2019, themarket in North America was worth USD 2.04 billion and this value is projectedto increase further in the coming years.
List of companies profiled in the report:
- 3Gen
- Ksyos
- MetaOptima
- 3Derm
- VigNet Inc.
- Maple
- MDLIVE Inc.
- CureSkin
- Ping an Good Doctor
- FirstDerm
- Other Players
Global Teledermatology Market Segmentation :
By Type
- Products
- Services
- Teleconsultation
- Telemonitoring
- Tele-education
- Others
By Modality
- Store-and-forward (Asynchronous)
- Real-time (Synchronous)
- Others
By End User
- Healthcare Facilities
- Home Care
By Geography
- North 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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Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- ExecutiveSummary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Proportion of Healthcare Professionals using Telemedicine, 2019 & 2020
- Overview of Teledermatology Services
- Overview of Teledermatology Policies & Pilot Programs- For Key Countries
- Reimbursement and Legal Aspect Overview
- New Product Launch
- Technological Advancements in Teledermatology Market
- Startups with their Funding Overview
- Key industry Developments - Mergers, Acquisitions and Partnerships
- Impact of COVID-19 on Teledermatology Market
5. Global Teledermatology Market Analysis,Insights and Forecast, 2016-2027
· Key Findings / Summary
· Market Analysis, Insights and Forecast – By Type
· Products
· Services
· Teleconsultation
· Telemonitoring
· Tele-education
· Others
· Market Analysis, Insights and Forecast – By Modality
· Store-and-forward (Asynchronous)
· Real-time (Synchronous)
· Others
· Market Analysis, Insights and Forecast – By End User
· Healthcare Facilities
· Home Care
· Market Analysis, Insights and Forecast – By Region
· North America
· Europe
· Asia Pacific
· Rest of the World
Continue…
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