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Key Prominent Players Covered in the Teledermatology Market are, 3Gen (U.S.), Ksyos (Netherlands), MetaOptima (Canada), 3Derm(U.S.), VigNet Inc. (U.S.), Mple(Canada) , MDLIVE Inc.(U.S.), CureSkin(India), Ping an Good Doctor (China), FirstDerm (U.S.)
November 25, 2021 02: 01 ET | Source: Fortune Business Insights
Pune, India, Nov. 25, 2021 (GLOBE NEWSWIRE) — The global “teledermatology market” size is projected to grow from USD 14. 32 billion in 2021 to USD 68. 54 billion by 2028, exhibiting a CAGR of 25.1% during the forecast period. The product’s popularity will likely increase due to increasing cases of skin conditions. Fortune Business Insights(tm) provides this information in its report titled “Teledermatology Market, 2021-2028”. The report also reveals that the market size was USD 10. 80 billion in 2020.
Teledermatology is a treatment procedure that is undertaken by using several communication technologies. Teledermatology allows patients and dermatologists to communicate directly via a digital platform. This allows medical professionals to offer faster and more effective treatment options. Teledermatology is in high demand due to the rising incidence of skin conditions among the elderly. Teledermatology reduces waiting times and improves treatment efficiency. For example, As per, the data published by Walk-in Dermatology Management, LLC, in August 2020, approximately 100,000 of the global population suffer from disorders while the number of dermatologists required to treat the patients is 3.3 dermatologists globally. To increase awareness about teleconsultations, pharmacies, insurance companies and retailers partner with a number of telehealth firms.
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Rising Adoption of Telehealth and Artificial Intelligence (AI) Technologies to Boost Market Growth
Teledermatology is used extensively by several patients because of the rising awareness regarding its advantages. Due to its increasing popularity and growing investment in healthcare services, teledermatology will be more popular than ever. For example, in 2017, as per the survey conducted by the National Business Group on Health, approximately 96% of employers and more than 500 employees were willing to provide insurance for telehealth facilities till 2019.
Further, the incorporation of artificial intelligence technologies is expected to boost the service’s effectiveness. Machine learning (AI) and machine learning technologies (ML), allow manufacturers to increase treatment efficiency by providing precise data and images that enable medical professionals to treat patients more effectively. These factors will likely fuel the growth of teledermatology.
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Presence of Major Companies to Boost Market Development in North America
North America is projected to dominate the teledermatology market share because of the presence of companies such as MDLive, DermatologistsOnCall, and others. It is anticipated that telehealth services will be more widely adopted by governments, insurance companies, and physicians. These factors will likely fuel market growth.
In Europe, the early adoption of facilities is expected to increase its adoption. Market progress will also be fueled by the existence of well-developed reimbursement policies.
In Asia-Pacific, the rising adoption of these facilities in Australia, China, and Singapore is expected to propel industry growth.
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List of Key Players Profiled in the Market Report
VigNet Inc. (U.S.)
Ping an Good Doctor (China)
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