PUBLISHER: The Business Research Company | PRODUCT CODE: 1409657
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409657
“Online Dermatology Consultation Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on online dermatology consultation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for online dermatology consultation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The online dermatology consultation market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Online dermatology consultation involves seeking virtual or remote medical advice from a dermatologist through online platforms or telecommunication technology, eliminating the need for individuals to physically visit a clinic or hospital for dermatological concerns.
The main modalities of online dermatology consultation include store-and-forward (asynchronous), real-time (synchronous), and other methods. Store-and-forward (asynchronous) refers to a data transmission method where the sender and receiver do not need to be present or active simultaneously. These online consultations are applicable in various areas such as skin care, hair loss, signs of aging, and others. They are utilized by healthcare facilities, homecare services, and other relevant entities.
The online dermatology consultation market research report is one of a series of new reports from The Business Research Company that provides online dermatology consultation market statistics, including online dermatology consultation industry global market size, regional shares, competitors with an online dermatology consultation market share, detailed online dermatology consultation market segments, market trends, and opportunities, and any further data you may need to thrive in the online dermatology consultation industry. This online dermatology consultation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The online dermatology consultation market size has grown rapidly in recent years. It will grow from $3.65 billion in 2023 to $4.23 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth observed in the historical period can be attributed to factors such as the increasing awareness of skin health, the emphasis on convenience and accessibility, the impact of the COVID-19 pandemic, and the cost-efficiency offered by online dermatology consultations.
The online dermatology consultation market size is expected to see rapid growth in the next few years. It will grow to $7.64 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The anticipated growth in the forecast period can be attributed to the integration of artificial intelligence (AI), the expansion of e-health platforms, regulatory support, the adoption of a patient-centric approach, and the influence of global health events. Major trends in this period include changes in regulatory and reimbursement policies, the implementation of enhanced data security measures, increased emphasis on patient education and engagement, the incorporation of advanced imaging technologies, and the integration of artificial intelligence for assistance in dermatological consultations.
The anticipated growth of the online dermatology consultation market is driven by the increasing prevalence of skin conditions. Skin conditions, encompassing dermatologic disorders such as acne, eczema, skin cancer, psoriasis, and vitiligo, prompt the demand for online dermatology consultations, also known as tele dermatology. This virtual mode of consulting with dermatologists leverages telecommunication technologies to offer patients efficient, convenient, and cost-effective diagnosis and treatment. Notably, as per data from 'The National Psoriasis Foundation' in December 2022, the US witnessed over 8 million recorded cases of psoriasis in 2022, indicating an increase from 7.5 million in the previous year, 2021. Consequently, the upward trend in the incidence of skin conditions is a pivotal factor propelling the growth of the online dermatology consultation market.
The expansion of telehealth and telemedicine is expected to further drive the growth of the online dermatology consultation market. Telehealth, involving the use of telecommunications technology for remote healthcare services, and telemedicine, specifically facilitating remote clinical consultations, offer a valuable avenue for online dermatology consultations. This approach provides efficient triage, facilitates remote monitoring, and extends healthcare services to underserved areas. Offering a cost-effective and convenient alternative to traditional in-person visits, online dermatology consultations integrate with electronic health records, ensuring seamless information sharing and continuity of care. Notably, in October 2022, the Centers for Disease Control and Prevention reported that telemedicine was utilized by 37.0% of adults in the US within the preceding 12 months, underscoring the increasing adoption of telehealth services and, consequently, propelling the growth of the online dermatology consultation market.
A prominent trend in the online dermatology consultation market is the incorporation of technological innovations by companies seeking to maintain their market positions. For example, in September 2022, Oro Health Technology, a Canadian telemedicine technology company, collaborated with MCI Onehealth Inc., a Canadian healthcare technology company, to launch the 'MCI Dermatology Connect platform' in Ontario. This platform, developed using Oro Health's AI technology, adheres to HIPAA norms, ensuring reliability and high-security standards in medical processes. The platform eliminates the need for appointments between patients and doctors, reducing waiting times and enhancing patient convenience.
Major players in the online dermatology consultation market are engaging in partnerships to develop new products and fortify their market presence. An instance of this is the November 2021 collaboration between DermTech Inc., a US-based genomics company, and DermatologistOnCall, an online dermatology care platform by Iagnosis, Inc., a US-based skincare solutions company. This partnership aims to enhance access to DermTech's Melanoma Test through DermatologistOnCall's telemedicine platform, providing convenient access to DermTech's non-invasive genomic tests for melanoma, the leading cause of skin cancer deaths.
In April 2021, Evernorth Health, Inc., a US-based healthcare services provider, acquired MDLIVE Group, a leading provider of virtual dermatology healthcare services, for an undisclosed amount. This strategic acquisition aligns with Evernorth Health's goal of offering more convenient access to care and improving health outcomes, emphasizing the growing importance of virtual care in the healthcare landscape.
Major companies operating in the online dermatology consultation market report are Teladoc Health Inc., DermatologistOnCall, First Derm, Doctor On Demand Inc., Lybrate Inc., DocsApp, Doctena Luxembourg, Babylon Health, Doctolib SA, Apollo TeleHealth, Doxy.me Inc., iCliniq, CureSkin India Private Limited, Aerotel Medical Systems Ltd., Apostrophe, Curology Inc., Dermatology Consultants, DermCare Management, DermCheck Dermatology Group, Dermio Dermatology LLC, Dermveda, Direct Dermatology Inc., First Opinion, GE HealthCare Technologies Inc., Hims & Hers Health Inc., Iagnosis Inc., iDoc24 Inc., Klara Technologies Inc, KRY International, LiveMD, Modernizing Medicine Inc., Musely, Philips Healthcare .
North America was the largest region in the online dermatology consultation market in 2023. The regions covered in the online dermatology consultation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the online dermatology consultation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The online dermatology consultation market includes revenues earned by entities by providing dermatology consultation services such as online dermatology care and treatment, dermatology consultations, treatment plan, and prescriptions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.