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The dermatology diagnostic devices market size is forecast to increase by USD 10.86 billion, at a CAGR of 10.87% between 2022 and 2027. Market growth in dermatology hinges on several factors, notably the rising prevalence of melanoma and autoimmune skin diseases, prompting a surge in demand for dermatological treatments. Concurrently, heightened awareness surrounding skin rejuvenation and cosmetic procedures fuels consumer interest in dermatological services. Moreover, the increasing demand for advanced diagnostic services in dermatology further propels market expansion, as patients seek accurate and timely diagnoses. These trends reflect a broader shift towards prioritizing skin health and aesthetics, driving innovation in dermatological treatments and technologies. As the market continues to evolve, leveraging advancements in medical research and technology, opportunities abound for dermatology practitioners and healthcare providers to meet the diverse needs of patients and capitalize on the growing demand for specialized dermatological services.
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In the market, technological advancements like infrared imaging, ultrasound, and optical coherence tomography drive innovation in diagnostic capabilities, offering precise insights for treatment plans. Patient preferences and demographic trends shape the market landscape, with a growing preference for smartphone-based healthcare devices and wearable activity monitors for lifestyle management. However, challenges persist, including the need to ensure protected health information (PHI) privacy and address the rise of lifestyle-related disorders. As healthcare continues to evolve towards personalized and accessible solutions, the market for dermatology diagnostic devices navigates opportunities amidst the complexities of chronic diseases and cardiovascular disorders. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for advanced dermatology diagnostic services is the key factor driving the growth of the market. The demand for advanced dermatological diagnostics has increased significantly in both developed and developing countries. The introduction of dermoscopy for diagnosing skin diseases has simplified the diagnostic approach and made it easier for physicians to use, especially for less experienced physicians. Technological advances in the field of dermatological diagnostic devices focus on improving the accuracy and sensitivity of detection mechanisms.
Moreover, the availability of a diagnostic device that can synchronize with an individual smartphone makes the whole experience convenient. There are numerous mobile applications currently available in the market for screening and tracking skin conditions. The need to satisfy this demand has led to the entry of new companies into the market. Such factors are expected to drive the growth of the market during the forecast period.
The emergence of 3D imaging technology is the primary trend in the market. 3D imaging plays a central role in telemedicine, especially in rural areas of developing countries. The use of AI in imaging technology has changed the landscape of dermatology and improved how melanoma and other skin cancers are diagnosed. It provides real-time images, and sequential digital dermatoscopy helps dermatologists take the correct approach to treat skin disorders.
Moreover, 3D imaging can also be used to monitor the change in lesion volume, height, or width, which can be useful to measure the effect of therapy on clinical lesions such as acne lesions or scars. Additionally, 3-Dimensional imaging and printing technologies can be harnessed to create face coverings and shields for the dermatology outpatient setting during the time of COVID-19. Thus, these advanced technologies will boost the growth of the global dermatological diagnostic devices market during the forecast period.
High equipment and maintenance costs are a major challenge to the growth of the market. Diagnosis of skin diseases is expensive due to the equipment and reagents required for testing. Also, trained technicians are considered the cost of data analysis, and interpretation is highly needed in diagnostic procedures. For instance, the cost of an image scanner device varies from USD 850 - USD 1,100. Also, the number of imaging scans is dependent on the type, brand, and quality of the dermatoscope. The expenditure for skin diseases includes physician visits, hospital care, prescription drugs, over-the-counter products, as well as indirect costs due to productivity losses.
Nowadays, the introduction of information technology (IT) in diagnostic procedures has provided an easier way to manage medical data. The use of advanced processors, connectivity, and cloud computing in medical equipment has facilitated diagnostic procedures with an increase in cost. Advancements in technologies has resulted in the increased cost of diagnostic devices, which can negatively influence the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agfa Gevaert NV: The company offers a dermatology diagnostic device called Skintell, which is a non-invasive imaging technology for visualizing skin morphology.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the landscape of the market, technology advancements like infrared imaging, ultrasound, and optical coherence tomography revolutionize diagnostic capabilities, allowing for precise and non-invasive assessments of skin conditions. Patient preference drives demand for smartphone-based healthcare devices and wearable activity monitors, offering convenience and accessibility in monitoring skin health and lifestyle management. As demographic trends reveal an aging population with a higher incidence of chronic diseases and lifestyle-related disorders, the market witnesses a surge in demand for dermatological diagnostic solutions. Wireless connectivity enables seamless data transfer and management of protected health information (PHI), empowering patients and healthcare providers alike. Collaborations between organizations like the International Diabetes Federation (IDF) and institutions like the Rockefeller Neuroscience Institute drive innovation, fostering the development of cutting-edge devices such as the Oura ring and Biosensor BX100 to address dermatological and cardiovascular diseases.
The market share growth by the hospitals segment will be significant during the forecast period. The hospitals segment is expected to witness significant growth in terms of CAGR when compared to the clinics and diagnostics labs segment in the market during the forecast period.
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The hospitals segment was valued at USD 7.29 billion in 2018. Dermatology diagnostic equipment products offer different benefits to hospitals and clinics at different levels and roles. For instance, in 2021, hospitals made the largest revenue contribution to market growth due to factors such as the increase in skin diseases and the presence of skilled professionals. The market has been driven by the availability of qualified medical professionals who can diagnose health conditions accurately through medical tests. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American market has witnessed significant growth, primarily due to the growing geriatric population and high prevalence of chronic and infectious skin diseases, increasing the demand for diagnostic products and services in the region.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
1. Dermatology Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, UK, Germany, Japan - Size and Forecast
2. Dermatology Lasers Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, India - Size and Forecast
3. Dermatology Endoscopy Devices Market by Product and Geography - Forecast and Analysis
In tropical countries, where exposure to UV radiations poses risks like nonmelanoma cancer, advancements in aesthetic procedures and home healthcare technologies are increasingly vital. Fitness tracking capabilities integrated into devices such as smartwatches, patches, and smart clothing cater to both consumer-grade and clinical-grade needs, facilitating general health and fitness monitoring as well as remote patient monitoring. The advent of 5G networks propels innovations in augmented reality (AR), virtual reality (VR), and spatial computing, enhancing battery life and expanding cybersecurity measures against cybersecurity attacks. These technologies support healthcare applications in home healthcare, enabling activity trackers and mHealth Intelligence solutions like Gizmore and devices such as Fitbit Versa 4, Fitbit Sense 2, and Fitbit Inspire 4.
Moreover, in the realm of consumer privacy, especially with online distribution and retail pharmacies involved, partnerships like Premera Blue Cross and initiatives by companies like Demant A/S and Audere highlight the intersection of healthcare and technology. Innovations such as Rockley Photonics for health monitoring and Bose Sound Control Hearing Aids illustrate the integration of advanced sensor technologies for improved health outcomes. As these technologies evolve, addressing consumer privacy concerns becomes crucial, ensuring secure data handling amidst the proliferation of home healthcare applications and wearable health devices. The synergy between aesthetic procedures, healthcare innovations, and connectivity advancements in 3G and 4G networks towards 5G networks underscores a transformative era in healthcare technology globally.
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Market Scope |
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Report Coverage |
Details |
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Page number |
176 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.87% |
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Market growth 2024-2028 |
USD 10.86 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.53 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
Asia at 34% |
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Key countries |
US, China, UK, Germany, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, Agfa Gevaert NV, AnMo Electronics Corp., Baxter International Inc., Bayer AG, Bomtech Electronics Co. Ltd., Bruker Corp., Caliber Imaging and Diagnostics Inc, Canfield Scientific Inc., Danaher Corp., F. Hoffmann La Roche Ltd., Firefly Global, FotoFinder Systems GmbH, General Electric Co., HEINE Optotechnik GmbH and Co. KG, Keyence Corp., KIRCHNER and WILHELM plus GmbH Co. KG, Michelson Diagnostics Inc., Microcurrent Technology Inc., and Strata Skin Sciences Inc |
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Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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