Teledermatology Market Archives - Daily Investor Hub

The emergence of hybrid teledermatology, the rise in skin diseases like psoriasis, eczema, and skin cancer, the lack of dermatologists and other qualified healthcare professionals who can provide specialized dermatological care, and technological developments in teledermatology products and the introduction of new dermatology services are the main factors propelling the market. Teledermatology is a new and emerging type of care delivery in which telecommunication technologies are utilized to transmit dermatology-related medical information over a long distance via voice, video, and data transmission. Asynchronous (store-and-forward) segment dominates the teledermatology market, with hybrid teledermatology expected to gain traction in the coming years Store-and-forward (SAF) teledermatology permits photos and other health-related information to be transmitted from a patient to a provider/clinician or from one provider/clinician to another using telehealth software for evaluation. Some of the primary elements driving its demand include reduced consultation wait times, expedited treatment of urgent patients, efficient management of a higher volume of patient cases, and improved patient satisfaction. However, a crucial problem that is predicted to hinder its adoption is the absence of real-time input on patient queries/concerns. In the future years, hybrid teledermatology is projected to gain traction. It combines real-time and store-and-forward teledermatology components. Patients may receive insights from real-time talks and benefit from the completeness of asynchronous data sharing by using the hybrid method, which allows them to choose the mode of consultation that best suits them. The method shortens wait times, improves access to care, and increases patient satisfaction. Technological advancements and the launch of new Teledermatology services drive the Teledermatology Market Over the years, the Teledermatology industry has seen a lot of technical breakthroughs and the introduction of new services. These advancements are anticipated to fuel the teledermatology industry in the future years. For instance: In May 2023, the Black Country Provider Collaborative launched new teledermatology services in the UK that aim to triage patients within a 24-hour period, reduce unnecessary appointments, and streamline access to diagnostics and treatments In Septemeber 2022, Oro Health in partnership with MCI Onehealth launched a new Teledermatology platform In Ontario for private and public patients. The new MCI platform, MCI Dermatology Connect, is powered by Oro Health Technology and provides a highly secured and reliable medical process. By using the platform, patients from the comfort of their homes will be able to receive personalized consultation, diagnosis, and prescription for minor dermatology pathologies within few days Competitive Landscape Analysis of the Teledermatology Market Some of the key players operating in the market include MedX Health, Digital Diagnostic/3Derm Systems, MetaOptima, Miiskin, Hims & Hers, Mandel Dermatology, MDLIVE, Medweb, First Derm, Dermicus, Eagle Telemedicine, Advanced Telemed Services, SkyMD, Integrated Dermatology, Curology, among others. Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Teledermatology Market Players operating in this market are adopting organic and inorganic growth strategies such as launching new products, launching pilot programs, acquiring related firms, and entering into collaborations to garner higher market share. For instance, In April 2023, MedX Health, a global leader in teledermatology entered into an agreement with PharmaChoice Canada to launch MedX teledermatology screening platform across canada. PharmaChoice Canada is one of Canada’s fastest-growing pharmacy groups, with more than 1000 independent pharmacy owners and operators In July 2021, Hims & Hers Health, acquired teledermatology specialist, Apostrophe. The acquisition expands the firm's ability to provide consumers with some of the most advanced and personalized dermatology treatments, faster and at scale The potential for integrating artificial intelligence (AI) into teledermatology to improve diagnosis accuracy, streamline workflows, and optimize patient care, the rising popularity of telehealth among patients and providers, and the aggressive organic and inorganic growth strategies employed by the players are all expected to contribute to the teledermatology market's anticipated future growth. Get Detailed Insights on the Teledermatology Market @ https://meditechinsights.com/teledermatology-market/ About Medi-Tech Insights Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services. Contact: Ruta Halde Associate, Medi-Tech Insights +32 498 86 80 79 info@meditechinsights.com

Tag: Teledermatology Market

Global Teledermatology Market on Track for Accelerated Growth: ~15% CAGR by 2027

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