Global Dermatology Diagnostic Device Market Share And Growth Analysis By Diagnostic Device Type (Dermatoscopes, Microscopes, Imaging Devices), By Application (Skin Cancer Diagnostics, Skin Lesion And Others) By End Users (Hospitals, Research Centers, Institutions, And Others) Forecast To 2022
The global Dermatology Diagnostic Device Market size to register a healthy CAGR during the forecast period (2016-2022). Dermatology diagnostic device market share is expected to witness significant growth due to evolving skin imaging technologies and increased incidences of skin cancer over the forecast period. The penetration of social media, television, and advertising have a tremendous impact on the consumer’s paying attention to aesthetics and physical appearance. This has, in turn, raised interest in aesthetic surgeries and a variety of cosmetics. Dermatology devices have experienced rapid transformations in the past few years. Skin imaging technologies such as optical coherence tomography (OCT) q-space trajectory imaging (QTI) are extensively in used these days. Terahertz and polarized-light imaging techniques are gaining traction, thereby contributing to the market growth.
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Potential and Pitfalls:
Dermatology diagnostic devices have gained huge attention for the last few years, mainly due to the soaring incidences of skin disorders like psoriasis, pigmentation, tanning issues, and vascular lesion. With rising incidences of skin cancer, surging demand for dermatologists, and growth in the geriatric population, the dermatology diagnostic device market is likely to flourish. Technological advancements made in dermatology diagnostic devices and the field of medical science has impacted the market positively. Moreover, increasing expenditure on healthcare and rising awareness regarding healthcare are some of the factors propelling the market growth across the globe. The increased prevalence of non-melanoma and melanoma skin cancers has increased the demand for effective diagnosis of such disorders, thereby triggering the demand from the market.
On the contrary, stringent regulatory requirements for medical devices, poor dermatology care, availability of low-cost substitutes, reimbursement issues, and competitive pricing of low-cost manufacturers are some of the major concerns likely to restrict the dermatology diagnostic device market in the foreseeable future.
Dermatology Diagnostic Device Market Competitive Dashboard:
The players operating in the global dermatology diagnostic device market 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.), Michelson Diagnostics Ltd., (UK), Genentech, Inc., (US), Cutera, Inc. (US), and Galderma S.A., (Switzerland).
Global Dermatology Diagnostic Device Market Segmental Analysis
The dermatology diagnostic device market has been segmented on the basis of diagnostic devices, application, and end users.
By diagnostic device, the dermatology diagnostic device market is segmented into imaging devices, dermatoscopes, and microscopes. Of these, the dermatoscopes’ segment is predicted to gain prominence in the coming years.
By application, the dermatology diagnostic device market is segmented into skin cancer, lesion and others.
By end user, the market is segmented into research labs and centers, hospitals, institutions, and others. Of these, the hospitals’ segment is considered to gain prominence due to increasing demand and high availability for advanced dermatological equipment in hospital settings. Availability of several treatment options in hospitals is likely to propel the market growth in the segment.
Dermatology Diagnostic Device Market Regional Insights
Geographically, the dermatology diagnostic device market spans across Europe, America, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, North America is likely to dominate the market due to the surging prevalence of skin disorders like melanoma and psoriasis, soaring awareness regarding aesthetic procedures, and well-developed healthcare infrastructure. Rising awareness associated with aesthetic appeal, availability of advanced treatments, higher consumer disposable income, and increased adoption of cosmetic procedures are augmenting the market growth.
The Asia Pacific will gain prominence in the long run, with India and China exhibiting the fastest growth rates. The existence of a large patient population, improving living standards, and surging demand for quality medical care are some of the primary growth stimulants of the regional market. Also, increasing demand for quality medical care, rising awareness regarding healthcare, and increasing expenditure on healthcare will propel the market in the APAC.
July 2019: Ra Medical Systems, Inc has recently declared that the company has launched Pharos, Optimized, which is considered the next generation of Pharos excimer lasers. It has been specifically designed to improve patient as well as physician experience with faster treatment of vitiligo, psoriasis, and atopic dermatitis.
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