This Teledermatology market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Teledermatology market.
Teledermatology Market Overview
Dermatology is the field of medicine concerned with the skin, hair, nails and their diseases. It is a speciality dealing with both the medical & surgical aspects. With the rapid progression of telecommunication technology in the late 20th and early 21st century, there was a convergence of the two in the form of the teledermatology market. The term ‘teledermatology’ was coined by dermatologists Perednia and Brown in 1995. It is a subset within dermatology where telecommunication equipment is used to transmit medical data through audio, video and data means. It typically consists of dermatology photos. The main objectives of the teledermatology market are long-distance knowledge exchange for doctors & researchers, getting a second opinion and even being able to serve patients suffering from chronic skin conditions in far-flung regions of the globe. Teledermatology can also save valuable time by enabling dermatologists to treat minor ailments online while leaving only serious medical conditions to be dealt with in person. There are two main concepts in teledermatology – Store and Forward (SAF) and real time teledermatology. The former is more commonly used whereas the latter is still a niche part of the teledermatology market at present.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
There are several factors responsible for the growth of the teledermatology market; a critical one being medical education. Several medical universities & colleges have begun to offer online courses, web applications or computer-based-training modules specifically for their students. There are also specialist courses which can be taken directly on the Internet, particularly in a field like dermatoscopy. Teledermatology can also be very useful for making medical information more easily available. For e.g. - A person afflicted by a certain skin condition could access information online, as could their relatives. They might also be able to join peer support groups with other people facing the same medical condition. Another driver for the teledermatology market is improving telecommunication infrastructure in emerging markets. The major investments being planned in 4G LTE networks in these countries will also help the dermatology market in no small part. This will enable a doctor sitting in the U.S or even in an urban part of the same country to treat patients in rural areas remotely. If the problem is a minor one, they might not have to schedule an appointment, saving both their time as well as that of the dermatologist. One more key driver for the teledermatology market is the desire of insurance companies to cut cost. With the introduction of newer, more expensive medical therapies, teledermatology is one of the best ways to get effective, rapid & affordable treatment.
Teledermatology Market Restraints
One of the biggest drivers of the growth of the teledermatology market can also be a major restraint to its growth. While developing countries have committed investing billions of dollars in improving their mobile and wired broadband infrastructure, the reality on the ground is quite different. Mobile networks can be patchy, slow and unreliable even in cities, making it very difficult for dermatologists to get data heavy, large images from their patients in rural, far-flung areas. Another challenge is the resistance to change from both dermatologists and the patients. Dermatologists might not trust technology and prefer to diagnose diseases in an old-fashioned way, while their patients might also be hesitant to utilise teledermatology due to a sheer lack of awareness. This is more likely in villages with low education levels which would ironically benefit from the teledermatology market the most. There is also a challenge of complex regulations which govern both technology & medicine across various countries. There can even be different laws in different states within the same country sometimes. (Like the U.S.). The long-term prospects of the teledermatology market are very bright, these challenges notwithstanding.
Teledermatology Market Key Regions
North America is the largest teledermatology market in the world, followed by the APAC region. While Europe is expected to remain steady, Asia Pacific will record the highest growth rates because of government investment in both telecommunications equipment and the medical industry, boosting the Asian teledermatology market.
Teledermatology Market Key Market Players
Key teledermatology market players around the world are Iagnosis, Dermlink, Click Diagnostics, AMD Global Telemedicine Inc., GE Healthcare, Philips Healthcare and Honeywell Life Care Solutions.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Teledermatology Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Teledermatology Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Teledermatology Market report?
In addition to up-to-date market figures and customized of the Teledermatology Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.