Dermatology Diagnostic Devices Market Driven by Demand for Non-Invasive Skin Cancer Screening: Fact.MR
Published : 22 Dec 2020 Industry: Healthcare
Wide range and high prevalence of skin ailments, including psoriasis, eczema, and skin cancer, among others, is expected to drive the growth of the dermatology diagnostic devices market, says Fact.MR in a recent study. Concerns over environmental pollution in urban centers and a vast base of baby boomer patients will support long-term growth. Increasing interest in the healthcare sector towards non-invasive dermatological screening technologies is creating a number of opportunities for manufacturers within the sector. Growing number of specialty dermatology clinic facilities run by private entities, and incorporation of AI and imaging technologies in new product offerings, allow for improved accuracy in diagnostic procedures.
The COVID-19 pandemic is expected to disrupt operations in dermatological healthcare, especially in terms of non-urgent cases. However, post-pandemic, the market will reflect strong growth till the end of 2030.
Key Takeaways from Dermatology Diagnostic Devices Market Study
- North America is expected to remain as the leading regional market, owing to high prevalence of skin cancer and cosmetic dermatology procedures.
- East Asia is likely to register above-average growth over the forecast period, supported by contributions from medical tourism.
- Dermatoscopes are anticipated to a lucrative product segment over the forecast period
- Specialty dermatology clinic applications will reflect strong growth in the coming decade, owing to higher sensitivity and accuracy in results.
- Rising government expenditure towards healthcare infrastructure in emerging economies will positively influence market developments.
- Will less priority being given to non-essential medical procedures amidst the COVID-19 pandemic, growth of the dermatology diagnostic devices market will be adversely affected in the short term.
“A wide range of pollutants such as oxides, aromatic hydrocarbons, and ultraviolet radiation are common causes of skin damage, owing to oxidative stress. Growing cases of skin conditions, such as acne, psoriasis, and eczema, and hair fall owing to environmental factors, have resulted in increased demand for dermatology diagnostic devices across the globe,” said a lead analyst at Fact.MR.
Competitive Landscape of Dermatology Diagnostic Devices Market
Players operating in the dermatology diagnostic devices market are focusing on product research, incorporating novel technologies in new product offerings. Also, strategic acquisitions and collaborations are expected to gain ground through the forecast period.
- Stryker Corp has announced the receipt of U.S. antitrust approval for the acquisition of Wright Medical Group, conditional on the sales of certain assets for a value of US$ 4 billion. The deal will help in Stryker become a major player in medical device production, including the field of dermatology.
- Medtronic Plc has invested around US$ 16 Mn for the expansion of its Research and Development Center in Delhi India. The facility will be the company’s largest research facility outside the United States for medical tech innovation, including dermatology diagnostics.
- Moltest, based in Scotland, unveiled Nomela – a professional medical rule-out screening test for lesions on the skin that are suspected of melanoma. The product will help healthcare professionals reduce needless referrals in the field of dermatology.
Some of the leading players operating in the dermatology diagnostic devices market include Carl Zeiss Meditec, Nikon Corporation, Leica Microsystems GmbH, MELA Science Inc., GE Healthcare, Phillips Healthcare, Toshiba Medical Systems Corporation, Siemens Healthcare, Bruker Corporation, and Photomedex Inc.
Valuable Insights into Dermatology Diagnostic Devices Market Study
In a recent report, Fact.MR has provided readers with an in-depth analysis of the dermatology diagnostic devices market for the assessment period of 2020 to 2030. For better comprehension of the industry, the report covers the market in 3 key segments. The market has been segmented on the basis of product into imaging techniques, dermatoscopes, microscopes, and others. In terms of end user, the market is divided into hospitals, specialty dermatology clinics, and private clinics. The dermatology diagnostic devices market is segmented by geography into North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
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