Analysis of Dermatology Diagnostic Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The dermatology diagnostic devices market will register a year-on-year growth of 11.5% in 2021, reaching a valuation of US$ 14 Bn. The market expects to reach US$ 50 Bn by the end of the aforementioned forecast period.
Market size value in 2020
|USD 14 Billion|
Market forecast value in 2031
|USD 50 Billion|
|CAGR of 13.5% from 2021 to 2031|
Historical Data Available for
Key Companies Profiled
Skin care is another growing segment of the healthcare industry, owing to rising demand for anti-aging products in geriatrics-dominated developed countries such as the U.S and the U.K, as well as Asians' desire for fairness, particularly in the vastly populated emerging economy of India. Owing to all these factors the market is poised to grow at a CAGR of 13.5% between 2021 and 2031.
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As per Fact.MR, the sales of dermatology diagnostic devices have grown at a CAGR of 9% between 2016 and 2020. According to WHO, non-melanoma cancer is the fifth most frequent kind of cancer, while melanoma of the skin is the 21st century’s most common type of cancer. In addition, the increasing incidence of various skin conditions such as acne and eczema is propelling market expansion.
During the height of the COVID-19 pandemic, dermatology diagnostic devices uptake experienced a considerable downslide, attributed to the postponement of non-COVID surgical procedures. Also, fears of contracting the virus through these devices led to patients opting for home based care.
Consumer interest in personal care products is increasing for both male and female populations. In addition, the number of non-invasive dermatological procedures has increased significantly in recent years. This aspect will yield credible growth opportunities in the future, with Fact.MR projecting a staggering 13.5% CAGR from 2021 to 2031.
The growing demand for aesthetic procedures is propelling the market for diagnostic devices, aesthetic lasers, and cosmetic dermatology. These lasers are utilized in a variety of cosmetic operations, including hair removal, skin rejuvenation, acne, psoriasis, tattoo removal, wrinkle removal, skin resurfacing, vascular lesions, and pigmented lesions, among others.
Longer wavelengths and better combinations of lasers have extended the variety of cosmetic treatments, making the aesthetic lasers sector profitable. The growing demand for cosmetic operations is driving growth in the market for dermatological diagnostic devices.
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There is a significant increase in the number of melanomas patients. According to the Skin Cancer Foundation, around 10,130 people die in the United States each year as a result of skin cancer.
Furthermore, rising cosmetics awareness, advancements in dermatological devices, and an increase in demand for baby boomer diagnosis are driving the growth of the dermatology diagnostic devices market. The advent of innovative technologies such as microdermabrasion, as well as increased public awareness, will create enormous potential for the dermatology diagnostic devices market in the future.
The worldwide dermatology diagnostic devices industry is expected to grow in the coming years. The rising popularity of skin improvement procedures among the general public has opened up new avenues for growth in this industry. Women and men are becoming increasingly concerned about skin care. Furthermore, the development of famous imagery centered on personal grooming has propelled cosmetic goods to the forefront of public attention.
Dermatological has seen tremendous improvements in recent years, opening up new prospects for the worldwide dermatology diagnostic devices market. Dermatologists' focus on developing new treatment lines for skin infections and rashes is fueling the market growth.
As per Fact.MR, the U.S is expected to dominate the market for dermatological diagnostic devices. Every day, around 9,500 people in the country are diagnosed with skin cancer, according to the American Academy of Dermatology. Consequently, patients are seeking advanced diagnostics to seek timely treatment.
The U.S dermatology devices market was worth US$ 310 Mn in 2021, and demand is expected to grow at a promising CAGR of 8% from 2021 to 2031. Besides, prevalence of other skin diseases such as melanoma, psoriasis, and impetigo are also prompting deployment of advanced dermatology diagnostics.
According to Fact.MR, the market for dermatology diagnostic devices in the U.K is expected to be worth US$ 1.9 Bn by 2021, expanding at 8.7% CAGR over the projected period. Increasing prevalence of skin disorders acquired at the workplace are majorly driving demand.
Over the past six years, there were an estimated 7000 new cases of self-reported skin problems annually, caused or made worse by work. Around 53% of cases of contact dermatitis were allergic in nature, while 60% were due to irritants. Hence, deployment of advanced dermatology diagnostics is increasing.
Fact.MR expects the market for dermatological diagnostics in India to expand at a CAGR of 7% from 2021 to 2031. Growth is spurred by increased prevalence of common dermatological problems, including infestations (pediculosis capitis and scabies) and infections (pyoderma, molluscum contagiosum, warts, etc.).
Furthermore, dermatological problems manifesting as primary and secondary cutaneous complaints constitute 30% of all outpatient visits to a pediatrician, and 30% of them involve pediatric patients. Consequently, healthcare providers are deploying diagnostic devices equipped with the latest technology, including artificial intelligence, to provide more efficient treatment.
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Hospitals are expected to account for the lion’s share in the end user segment. This might be due to improved access to higher finance and modern technologies in healthcare facilities. A market share of 60% is projected for hospitals.
Hospitals can also provide a wide range of diagnostic and treatment options for a variety of skin disorders. Specialty clinics, on the other hand, are seeing quicker expansion, with a growing number of small-scale companies in the dermatological industry and access to speedier and more efficient services.
As per Fact.MR, dermatoscopes are expected to expand at a higher rate, clocking a CAGR of 12% over the 2021-2031 assessment period. Dermoscopy procedures increase the sensitivity, specificity, and accuracy of skin cancer detection, which will promote long-term growth.
Furthermore, dermatoscopes are gaining traction as new technologies, like as artificial intelligence, and are being integrated into product offerings. These gadgets are being used in routine medical operations. Demand will be sustained for the foreseeable future due to the high number of skin cancer patients in populous main regional markets.
Prominent dermatological diagnostic device manufacturers are focusing on expanding their product portfolios through industry alliances and acquisitions, as well as research and development activities. In addition, efforts for geographic growth are likely to gain traction throughout the projection period.
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The dermatology diagnostic devices market is expected to be worth US$ 14 Bn in 2021
The dermatology diagnostic devices industry is anticipated to grow at a CAGR of 13.5%, from 2021 to 2031
By 2031-end, the market for dermatology diagnostic devices is likely to reach US$ 50 Bn
According to Fact.MR, from 2016-2020, the market for dermatology diagnostic devices surged at around 9% CAGR
The worldwide dermatology devices market is being driven by the rising prevalence of skin diseases and increased awareness of cosmetic procedures
According to Fact.MR, the market for dermatology diagnostic devices is expected to surge at 8% CAGR
From 2021 to 2031, the U.K dermatology industry is anticipated to surge at a CAGR of 8.7%
In India, demand for dermatology diagnostic devices is poised to grow at 7% CAGR
Dermatoscopes are expected to be top-selling, growing at a CAGR of 12% until 2031
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