Dermatology Diagnostic Device Market Share And Growth Analysis By Diagnostic Device Type (Dermatoscopes, Microscopes, Imaging Devices), By Application (Skin Cancer Diagnostics, Skin Lesion) By End Users (Hospitals, Research Centers, Institutions) Forecast To 2022
Dermatology Diagnostic Devices Market Landscape
A mount in the prevalence of skin conditions, acne, particularly hair fall, and eczema and psoriasis, owing to hurriedly escalating levels of air pollution, has led to surged demand for dermatology diagnostic devices globally. Moreover, numerous vendors in the global Dermatology Diagnostic Devices Market are focusing on expanding product portfolios through contribution devices for performing imaging techniques such as dermatoscopy and optical coherence tomography. They are also introducing smaller and easier devices in usage. All these factors are also encouraging the dermatology diagnostic devices market considerably.
Market Research Future presents a five-year forecast for the Global Dermatology Diagnostic Devices Market between 2016 and 2022. By value, the global Dermatology Diagnostic Devices Market might register a staggering CAGR in the forecast period. As the economy has started to restore after long terms impact of COVID-19, the market will be attaining a soaring valuation by the year 2022 up from the preceding share. Various pollutants such as oxides and ultraviolet radiation, and polycyclic aromatic hydrocarbons cause damage to the skin by inducing oxidative stress
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As per the latest study, dermatology procedures have gained a reputation in the cosmetics industry for numerous diagnostic services for individuals suffering from chronic skin conditions such as skin pigmentations, benign skin growth, allergic reactions, and fungal or bacterial infections. Generally, the diagnosis is conducted through a visual examination using microscopic observation of the skin, which assists in identifying disease and specifies a treatment plan. To perform these procedures, dermatologists use imaging devices, microscopes, and dermatoscopes. Due to the efficient function of these, the demand is escalating on a global level owing to the rising cases of dermatological conditions and growing concerns regarding skin health. Looking forward, IMARC Group expects the global dermatology diagnostic devices market to show moderate growth in the next five years.
Furthermore, the factor of technological advancements in the field of dermatology supported by FDA approvals has confirmed beneficial for manufacturers to capitalize on market opportunities for future purposes. In fact, the development of novel therapies and devices to manage metastatic melanoma and malignant type of skin cancer, among others, will also foster dermatology diagnostic devices business growth. Even the introduction to digitalization within dermatology devices will enable a higher adoption rate for these devices in developed economies and would encourage the market’s expansion in the coming time.
Dermatology Diagnostic Devices Market Segment Review
The global Dermatology Diagnostic Devices Market is studied among the segments of diagnostic devices, applications, and end-users.
Based on the segment of the diagnostic device, the dermatology diagnostic devices market has included imaging devices, dermatoscopes, and microscopes.
Based on the segment of the application, the dermatology diagnostic devices market has included lesions, skin cancer, and others.
Similarly, by the segment of end-users, the dermatology diagnostic devices market has included research labs and centers, hospitals, institutions, and others.
Dermatology Diagnostic Devices Market Regional Framework
North America's dermatology diagnostic devices market demand might grow at around 11.8% CAGR from 2019 to 2025. Regional growth is accredited to advancement in technology that is integrated within dermatology devices, used in aesthetic and other dermatological procedures to treat different skin conditions. With this, R&D investment in skin cancer treatments by crucial industry players should drive dermatology diagnostic devices market growth during the assessment period.
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Asia Pacific dermatology device market share was valued at around USD 2 billion in the year 2018, owing to the emerging prevalence of skin cancers caused by exposure to UV radiation. The incidence of hefty patient pool in highly populous countries such as China and India, coupled with mounting investments in the healthcare industry, will boost Asia Pacific skincare device business growth.
Dermatology Diagnostic Devices Market Top Vendors
Few of the renowned industry vendors functioning in dermatology devices market share include Alma Lasers, Ltd. (Israel), Valeant Pharmaceuticals (Canada), Lumenis, Ltd. (Israel), Cutera, Inc. (U.S.), Dino-Lite Europe/IDCP B.V., Cynosure, Inc. (U.S.), Galderma S.A., (Switzerland), Michelson Diagnostics Ltd., (UK), Genentech, Inc., (US), and Cutera, Inc. (US).
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