Enjoy complimentary customisation on priority with our Enterprise License!
The dermatology diagnostic devices market size is estimated to grow at a CAGR of 10.12% between 2022 and 2027. The dermatology diagnostic devices market size is forecast to increase by USD 9,108.83 million. The growth of the market depends on several factors, including the increasing prevalence of melanoma and autoimmune skin diseases, the growing awareness about skin rejuvenation and other cosmetic treatments, and the increasing demand for advanced dermatology diagnostic services.
This dermatology diagnostic devices market report extensively covers market segmentation by end-user (hospitals, clinics, and diagnostic labs), type (imaging devices, microscopes, immunoassays, molecular diagnostics, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The increasing demand for advanced dermatology diagnostic services is notably driving the market growth, although factors such as high equipment and maintenance costs may impede the market growth. Our researchers analyzed the data with 2022 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 global dermatology diagnostic devices 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 global dermatology diagnostic devices market during the forecast period.
Emergence of 3D imaging technology is the primary trend in the global dermatology diagnostic devices 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 global dermatology diagnostic devices 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. Advancement in technologies has resulted in the increased cost of diagnostic devices, which can negatively influence the market growth during the forecast period.
The report includes the adoption lifecycle of the market, 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 growth strategies.
Global Dermatology Diagnostic Devices Market Customer Landscape
Vendors 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 vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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 global dermatology diagnostic devices market during the forecast period.
Get a glance at the market contribution of various segments View the PDF Sample
The hospitals segment was valued at USD 6,701.10 million in 2017 and continued to grow by 2021. 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.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 35% 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.
In 2020, the outbreak of COVID-19 significantly declined the growth of the dermatology diagnostics devices market in North America. However, with the lifting of lockdowns due to the initiation of COVID-19 vaccines in the second half of 2020, the operations in clinics and hospitals that offer treatment for dermatological treatments resumed, which increased the demand for dermatological treatments in the region. Moreover, companies are investing heavily in R and D to find a feasible way to treat dermatological-related diseases. Such factors are expected to open new opportunities in the dermatology diagnostic devices market in North America during the forecast period.
The dermatology diagnostic devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global dermatology diagnostic devices market as a part of the global healthcare equipment market. The parent global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
|
Dermatology Diagnostic Devices Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
171 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 10.12% |
|
Market growth 2023-2027 |
USD 9,108.83 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
9.45 |
|
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
|
Performing market contribution |
North America at 35% |
|
Key countries |
US, UK, Germany, China, and Japan |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Abbott Laboratories, Agfa Gevaert NV, AnMo Electronics Corp., 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, Hill Rom Holdings Inc., Keyence Corp., KIRCHNER and WILHELM plus GmbH Co. KG, Michelson Diagnostics Inc., Microcurrent Technology Inc., and Strata Skin Sciences Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
