In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
The global tele dermatology market is estimated to garner a significant CAGR over the forecast period, i.e., 2021–2029. The growth of the market can be attributed to the increasing prevalence of skin diseases, such as, skin cancer and eczema, due to rising pollution and unhealthy eating habits. Moreover, direct consultation, cost effectiveness, fast communication, and satisfactory treatment provided through tele dermatology is estimated to boost the market growth. In addition to that, growing awareness regarding skin diseases and easy availability of specialists through remote treatments, is expected to boost the market growth.
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The market is segmented by type into product, and service, out of which, the service segment is anticipated to hold the largest share in the market during the forecast period on account of growing need for doctor consultation. Moreover, the various services provided on telehealth platforms, is estimated to boost the segment growth.
Regionally, the global tele dermatology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness highest growth over the forecast period on the back of lesser number of dermatologists, with less than 15 dermatologists per 10,000 people in the U.S. coupled with growing cases of skin diseases due to unhealthy lifestyle and pollution. Moreover, the COVID-19 pandemic has driven the public towards telemedicine services, which is further expected to boost the market growth.
The market in Europe is anticipated to witness noteworthy growth by the end of 2029, on the back of growing healthcare sector, followed by increasing demand for dermatological treatment. Cost effectiveness and direct consultation provided by tele dermatology is anticipated to drive the market growth in the region.
The global tele dermatology market is further classified on the basis of region as follows:
Our in-depth analysis of the global tele dermatology market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing cases of skin problems and easy availability of specialists for remote consultation are major driving factors for the growth of the market.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
Lack of awareness regarding the telehealth services in developing economies is estimated to hamper the market growth.
The market in North America is anticipated to provide most growth opportunities owing to the growing patient pool of skin diseases and lack of enough dermatologists in the region.
The major players in the market are AMD Global Telemedicine Inc, Aerotel Medical Systems Ltd., Iagnosis, Inc. (DOC), American Well Corporation, iDoc24 Inc, Trusper Inc. (Musely), SkyMD, Inc., Curology, Inc., Ksyos, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, method, application, and by region.
The service segment is anticipated to hold largest market size over the forecast period owing to the vast range of services provided by the tele dermatology platforms.
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