Online Dermatology Consultation Market - Forecasts from 2023 to 2028

The global online dermatology consultation market was valued at US$3.761 billion in 2021 and is projected to expand at a CAGR of 8.82% over the forecast period to reach US$6.794 billion by 2028

A cutting-edge approach to providing dermatological treatments, reaching out to remote locations impartially, and enabling dermatologists or primary care doctors to help patients by referring them to local dermatology centres is online dermatology consultation. There are two approaches to performing teledermatology in real-time: using store-and-forward techniques and using video conferencing technology. A patient's clinical history can be preserved with transported photos and videos. Teledermatology in real-time, can provide more clinical details about the patient.

Growth drivers for the online dermatology consultation market

The adoption of investments and teledermatology services in the telemedicine sector is one of the market's key growth drivers, along with rising trends in online education and remote consulting, as well as increased investment in R&D programs for the development of several preventive online dermatology services. These are some of the key drivers for the online dermatology consultation market.

Growing rates of skin conditions

The demand for the online dermatology consultation market in North America and Europe area is expanding as a result of the rising prevalence of skin disorders brought on by an aging population and a lack of dermatologists. As a result, patients must wait nearly a month for their dermatologist visit. According to the American Cancer Society, only 1% of skin cancer cases are melanoma, yet it causes the vast majority of skin cancer deaths.

Rising shortage of dermatologists per million population

One of the key elements encouraging the expansion of the online dermatology consultation industry is the drop in dermatologists per million people. Dermatologists are in short supply, even in some developed countries, which results in lengthy patient wait periods and slow response times. Dermatologists will use telemedicine over the anticipated duration to give patients access to dermatological therapy, which is fueling the online dermatology consultation industry growth.

Increasing trends in online education and remote consultancy

The business was boosted by the rising popularity of online consulting and education since many organizations, like Boston University, offering an online platform for both. Worldwide, several commercial health consultant firms are also playing significant roles in the provision of diagnosis services. The global online dermatology consultation market's primary drivers of development are the advantages of teledermatology and its extensive use. One of the key drivers for the acceptance of investments and teledermatology services in the telemedicine sector is government measures to lower healthcare costs and increase specialty healthcare.

Technological advancements to upsurge the market

One of the key trends influencing online dermatological consultations market growth is the application of artificial intelligence. Healthcare organizations are fast adopting virtual consultations and extending their telemedicine operations. New deep-learning developments have been presented to identify melanoma patients utilizing images of lesions through the usage of online dermatologist consultation.

Modern product development methods enable industry leaders to offer novel products and meet consumer demand. For instance, in 2021, Microsoft and Teladoc Health Inc. collaborated to integrate hospitals and healthcare systems into the Microsoft Teams platform. The company has been able to expand its service thanks to this connection, which has been made feasible by growing consumer demand for virtual healthcare as well as better physician and patient access to it.

The homecare sector is anticipated to hold a significant market share

The home care industry is predicted to generate the highest revenues in the global online dermatology consultation market during the forecast period as a result of a rise in patients seeking online dermatological consultations from the convenience of their homes. The older population's growing usage of teleconsultation and the ability to properly monitor them remotely in home care settings are some other factors contributing to the segment's growth since they lessen the necessity for hospital visits. The online dermatology consultation market growth is anticipated to be driven by the increased accessibility of efforts by industry participants, such as online dermatological consultation programs, in significant regional markets like the United States.

The increase in clinical studies

The online dermatological consultation industry is expected to rise as more clinical studies are conducted to assess the efficacy and safety of a variety of medicinal medications. For instance, in December 2021, the pharmaceutical firm Amgen Inc. revealed the favorable findings of phase 3 placebo-controlled, double-blind clinical research. The purpose of the study is to evaluate Otezla's effectiveness in the treatment of moderate to severe psoriasis. According to the study, Otezla (oral 30 mg) significantly reduced the signs and symptoms of genital psoriasis after 16 weeks when compared to the placebo group.  Additionally, the market is growing as a result of the rising incidence of teenagers and younger people, who are more prone to skin conditions due to hormonal changes.

North America is anticipated to have one of the significant growth in the Online Dermatology Consultation Market

Throughout the projected period, North America is anticipated to maintain its dominance in the global market. Numerous healthcare institutions have quickly adopted and started using online platforms, which will encourage market development across Canada and the US. Furthermore, it is projected that a strong U.S. government and growth in key firms like MDlive and DermatologistOnCall would propel the North American market during the projection year. The second-largest region, Europe, is predicted to account for a sizable percentage of the global market. High-growing countries like Germany, the UK, Italy, and France would contribute to the market expansion in Europe, which is anticipated to result in a faster rate of online dermatology consultation market growth.

Market Developments

• In September 2022, the new "MCI Dermatology Connect platform," a technical platform, was introduced in Ontario by Oro Health Technology, a Canadian telemedicine technology firm, in collaboration with MCI Onehealth Inc., a Canadian healthcare technology business.
• In February 2022, to help people with numerous chronic disorders achieve better results, Teladoc Health Inc. introduced chronic care comprehensive, a chronic condition management solution.

Segmentation:

By Modality

• Store-and-forward
• Real-time
• Others

By Application

• Skin Care
• Hair Care
• Others

By End-User

• Healthcare Facilities
• Homecare

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others