Teledermatology Market Size, Share, Growth Analysis, By Type(Services, Products), By Modality(Store-and-Forward (Asynchronous), Real-time (Synchronous), Others), By End Users(Healthcare Facilities, Home Care), By Region - Industry Forecast 2024-2031

Teledermatology Market Driver

Growing Patient and Provider Adoption of Telehealth Will Boost Market Growth

• Increased awareness among patients and providers is one of the key drivers of market expansion. In a 2020 poll conducted by the National Business Group on Health, more than 96% of companies in the United States with 500 or more employees stated that they will provide insurance coverage for telehealth services by 2019. According to One Touch, virtual care is appropriate for all user types in any healthcare context. As a result of the surge in video telehealth during a pandemic, Telehealth announced the release of Version 5.0 of its software in November 2020, virtual care is appropriate for each user type in any healthcare context. This has aided the growth of the telehealth market.

Incidence of Skin Conditions is Increasing, Driving Market Growth

• Due to an increase in the incidence of skin disorders such as skin cancer, eczema, and psoriasis, the number of dermatological services has increased significantly. According to the American Association of Dermatology, around 50 million Americans have acne, 30 million have eczema, and 7.5 million have psoriasis. Every day, around 9,500 people in the United States are diagnosed with skin cancer.

Teledermatology Market Restraint

In developing countries, inadequate reimbursement facilities will limit product adoption

• Despite the fact that many nations have developed reimbursement regulations for teledermatology services, incorrect and inadequate compensation, particularly in developing countries, remains a substantial barrier to their adoption. In developing countries, the cost of medical care has always been a major concern. As a result, developing economies have rushed to accept these services without sufficient strategy or planning. Low reimbursement, connectivity challenges during virtual teledermatology visits, and a lack of good epidemiological studies data connected to skin disorders are projected to stymie the global teledermatology industry's growth over the forecast period. According to a study published in the British Medical Journal (BMJ) in May 2020, approximately 81 % of the world's countries lack epidemiological data on psoriasis, a skin ailment characterized by itchy scale-like spots on the skin.