Teledermatology Market Analysis, Key Trends, Growth Opportunities, Challenges And Key Players By 2029

Market Overview:
Global Teledermatology Market Was Valued At USD 9.89 Billion In 2021 And Is Expected To Reach USD 41.01 Billion By The Year 2028, At A CAGR Of 22.53%.

The beginnings of telemedicine may be seen in the 19th century when ship commanders utilized radio to consult doctors and telephone lines to send electrocardiograms. When teledermatology gained popularity in Norway in subspecialties like pathology and radiology in 1993, it was the first time it was mentioned in the medical literature. Modern technology called telemedicine makes it possible to get healthcare remotely. Since the COVID-19 pandemic began, telemedicine has become more popular because it does not require patients or medical professionals to be present physically. As a visually-reliant field, dermatology is ideally suited for this kind of medical assistance.

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Key Chapter Will Be Provided In The Report
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis

Market Dynamics:
Driver:
Healthcare professionals can use teledermatology for a variety of purposes, including delivering clinical services to patients, keeping track of patient health, conferring with other medical professionals, and giving patients access to educational materials. The greatest option for problems with pigmented skin lesions, cancer detection, screening, and therapy is teledermatology. The most practical choice for the senior population is teledermatology since as people age, they find it more difficult to get to clinics. In the next years, dermatologists will be in more demand due to the world's aging population. Research done in So Paulo, Brazil found that teledermatology was able to treat 66.66% of the subjects (all over the age of 60) without the requirement for an in-person visit.

Opportunities:
One of the most important developments in teledermatology is the application of artificial intelligence. Healthcare organizations are embracing long-distance consultations and fast-growing their telemedicine programs. New advancements in deep learning, a sort of artificial intelligence (AI), have been used in teledermatology to detect melanoma patients from lesion photos. According to the smartphone industry, people worldwide will have access to deep learning-capable technology in the next ten years thanks to next-generation smartphones and broad adoption, opening up the potential for market participants.

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Analysis of the Top Market Players:
• 3Gen Consulting (US)
• FirstDerm (US)
• MetaOptima (Canada)
• MDLIVE Inc. (US)
• VigNet Inc. (US)
• Ping An Healthcare and Technology Company Limited (China)
• Maple (Canada)
• Ksyos (Netherlands)
• CureSkin (India)
• 3Derm (U.S.) and others major players.

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Segmentation of the Teledermatology Market:
By Type
• Products
• Services {Teleconsultation, Telemonitoring, Tele-Education, Others}

By Data Transmission
• Store & Forward {Asynchronous}
• Real-Time {Synchronous}
• Hybrid

By End-Users
• Healthcare Facilities
• Homecare

By Region
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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COVID-19 Impact on Teledermatology Market:
The COVID-19 pandemic has completely changed the face of dermatology care. Teledermatology has emerged as a powerful tool for delivering remote care in an age of lockdowns and social distancing. The teledermatology field has rapidly developed as a result of the lockdown imposed to constrain the spread of the coronavirus disease. It has enabled dermatologists to deliver dermatological care remotely, reducing the risk of COVID-19 transmission in inpatient settings. In June 2020, Elsner studied the utilization of teledermatology during the COVID-19 days. Overall, the review found a higher dependence on teledermatology during the pandemic, as well as positive attitudes toward this novel type of care. teledermatology reduces travel costs for patients and removes time spent traveling to a doctor's office by providing at-home care.

Recent Industry Developments in Teledermatology Market:
In July 2021, Hims & Hers Health Inc. announced the acquisition of Apostrophe, a teledermatology specialist. With this acquisition, Hims & Hers will be able to provide customers with some of the most innovative and tailored dermatology treatments at a faster and larger scale.

In June 2019, FirstDerm released 2.0 of its Artificial Intelligence (AI) API, which can be used for FREE by consumers as a Skin Image SearchTM tool to help identify skin issues in a second. A Deep Convolutional Neural Network was trained using 100 000 annotated photos of 33 distinct skin illnesses and over 300 000 images of 248 different skin conditions (CNN).

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