According to the deep-dive market assessment study by Growth+ Reports, the global teledermatology market was pegged at ~US$ 14.1 billion in 2021. The market is expected to witness a CAGR of ~21% from 2022 to 2030.
Teledermatology provides a remote solution for dermatological and skin diseases such as acne, skin cancer, and allergic skin reaction using smartphones, computers, or other electronic devices. Teledermatology is accessible by two main modules: store and forward method (SAF) and video conferencing. Both modules require novel communication devices to connect virtually. Teledermatology provides remote care to skin problems by direct virtual contact of patients with a dermatologist without waiting for long hours at a hospital and removing the need to travel to a hospital until and unless it is a significant issue.
Teledermatology helps in the early diagnosis of skin cancer and other ailments. Early detection of skin cancer reduces morbidity rate. Squamous cell carcinoma (SCC) and melanoma are high-risk cancers with the potential to develop into metastasis and ultimately lead to death. Basal cell carcinoma infiltrates and damages surrounding connective tissue. According to World Cancer Research Fund International, skin melanoma is the 17th most prevalent cancer worldwide. In terms of prevalence, it ranks 15th among cancers in women and 13th among cancers in men. Skin cancer can be classified into two main categories: melanoma and non-melanoma. Squamous cell carcinoma and basal cell carcinoma are the most prevalent non-melanoma cancers. In 2020, more than 150,000 new skin melanoma cases were reported worldwide. Australia and New Zealand were the countries with the highest rates of skin melanoma in 2020. Teledermatology provides convenient and quick access to general physicians to get an opinion from a skin specialist for suspicious skin lesions without sending their patients. It also benefits the patients and reduces their avoidable travel and expenses.
Dermatologist and patients mainly adopt the store and forward method (SAF) as it involves sending medical information and digital images to consult a dermatological specialist who analyzes the concern and prescribe the drug treatment. It is the most convenient method as it does not require the presence of both patient and doctor simultaneously, has fewer consulting fees compared to face-to-face interaction, and saves traveling expenses. Additionally, teledermatology offers easily accessible medical history for future reference. Growing awareness about communication technologies, an increasing number of smartphone and internet users, and rapid adoption of telemedicine in rural regions and undeveloped countries are pushing the global store and forward method teledermatology market. Video conferencing is also expected to show tremendous growth during forecast periods as it is easily accessible; it is real-time communication where concerns are more conveyable and increases trust.
However, low reimbursement policies for teledermatology, limited access to technology and the internet in many underdeveloped countries and storage issues of extensive data are holding the growth of the global teledermatology market. Less adoption rate in rural regions is also hindering the development of the worldwide teledermatology market due to less trust factor with the virtual meeting, and diagnosis of some skin diseases may also not be possible virtually.
Based on region, the global teledermatology market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America was leading the global teledermatology market in terms of revenue. The large share of North America in the global market can be attributed to the high concentration of key players, high disposable income, increasing adoption of telehealth services, and favorable reimbursement policies. Additionally, the presence of developed infrastructure, quick uptake of advanced communication technologies, and government regulatory support contribute to the North American teledermatology market. Asia Pacific is also expected to show the highest growth during the forecast period owing to increasing awareness about teledermatology solutions, increasing incidence of skin diseases, and improving government initiatives for promoting telehealth services. The Indian telemedicine service eSanjeevani reported nearly 1.4 crore consultations by October 2021. eSanjeevani OPD was introduced in April 2021 to offer secure doctor-to-patient consultations, enabling people to consult doctors from the convenience of their homes, avoiding wait times, travel, infection risks, etc.
Some prominent players operating in the global teledermatology market are 3Gen Consulting, MetaOptima Technology Inc., Digital Diagnostics Inc., Maple, MDLIVE Inc., Koninklijke Philips N.V, ClearArch, Inc., AMD Global Telemedicine Inc., Cisco Systems Inc., Allscripts Healthcare, LLC, Advanced Telemed Services Pvt. Ltd., Aerotel Medical Systems (1998) Ltd, Medtronic Plc., Iris Telehealth Inc., and MDLIVE Inc. among others.