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The Dermatology Market size is estimated to grow by USD 12.76 billion at a CAGR of 10.82% between 2022 and 2027. The market is driven by the rising incidence of skin disorders and advancements in dermatology devices, along with the expanding aging population. However, challenges including safety concerns and potential side effects associated with dermatological treatments, as well as the high cost of such treatments and the shortage of skilled dermatologists, may hinder market growth.
The increasing incidence of skin diseases such as skin cancer, acne, psoriasis, and Eczema has a significant impact on the global market. Effective diagnosis, treatment, and monitoring of skin disorders are gaining traction as these diseases are becoming increasingly prevalent among individuals. In order for accurate diagnosis, as well as treatment choices and monitoring of skin disorders, it is necessary to provide dermal products and services. With the growing incidence of skin disorders, a high demand exists for dermatological treatments as consumers and healthcare professionals are increasingly looking for state-of-the-art treatment options. Such factors are expected to drive the demand, which, in turn, will boost the growth of the global market during the forecast period.
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Technavio has segmented the market into
It also includes an in-depth analysis of drivers, trends, and challenges.
The market share growth by the acne segment will be significant during the forecast period. Treatment for acne, a typical skin ailment marked by blackheads, whiteheads, and pimples, has become a major application in the global market. Increasing incidences of acne in adolescents and adults, as well as increased demand for skin care products due to advances in dermatological therapy and increasing awareness with regard to cosmetics, are also contributing to its growing prevalence. Additionally, due to an increasing need for novel and effective treatments in the area of acne, e.g. skin creams, antibiotics, or lasers, the market has become more concentrated.
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The acne segment was valued at USD 3.79 billion in 2017. the development of the market in focus is driven by the launch of cutting-edge products and technologies, giving access to acne treatment options to patients worldwide. Owing to these factors, the adoption will increase for treating acne, and hence, the market in focus will witness significant growth.
Based on end-user, the market has been segmented into skin clinics, hospitals, and others. Skin clinics have emerged as a significant end-user in the global devices market. These clinics attract a sizable patient population who look for specialized services and treatments for different skin diseases. Market participants provide a variety of treatment options in skin clinics that address specific skin conditions. The product marketed by Johnson and Johnson is the Neutrogena Light Therapy Acne Mask, which is a noninvasive treatment tool used in cosmetic dermatology practices to treat acne. This selection of products is in line with the different needs of skin clinics and supports their significant market presence. Notably, the increasing demand for skincare treatments, along with market players offering optimum solutions to consumers, is expected to increase the adoption in skin clinics. This will drive the growth of the market focus during the forecast period
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period.
The market in focus in North America has been witnessing significant growth, primarily because of an increase in the geriatric population and a high prevalence of chronic and infectious skin diseases that have raised the demand for the products, and services in this region. In particular, there has been a growing demand in the United States due to increased awareness of diagnostic tests related to skin diseases among older people.
The dermatology market is experiencing significant growth driven by the increasing prevalence of various skin-related diseases such as acne, atopic dermatitis, skin cancer, and psoriasis. This rise in skin disorders has heightened the demand for dermatological products and treatments. Additionally, advancements in dermatology devices and pharmaceuticals, along with ongoing research and development (R&D) activities in the field, contribute to market expansion. Organizations like the American Academy of Dermatology Association and the American Cancer Society play crucial roles in raising awareness about skin diseases, advocating for patient care, and supporting research efforts. Furthermore, the introduction of innovative products such as Rinvoq (upadacitinib) for treating psoriatic arthritis and genital psoriasis symptoms provides new therapeutic options for patients, stimulating market growth and addressing unmet medical needs.
Despite the market's positive trajectory, challenges persist, including the side effects associated with dermatological treatments and safety concerns. Additionally, the high cost of dermatology treatments presents a barrier to access for some patients, limiting market growth potential. Furthermore, there is a shortage of dermatologists, particularly in certain regions, which can impede patient care and access to specialized treatments. However, increased funding from both private and government organizations towards dermatological research and development initiatives is expected to address these challenges and drive further advancements in the field, ensuring better patient outcomes and sustained market growth.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The market is witnessing significant growth, primarily driven by the increasing prevalence of various skin disorders worldwide. Skin conditions such as melanoma, acne, psoriasis, and eczema are becoming more common, prompting a surge in demand for diagnosis, treatment, and monitoring solutions. This trend is particularly evident as individuals seek effective solutions to manage and alleviate the symptoms associated with these dermatological conditions. Additionally, advancements in research and development activities have led to the introduction of innovative dermatological products and services, further fueling market growth.
Furthermore, the availability of advanced technologies such as laser therapy devices and improved imaging systems is revolutionizing the diagnosis and treatment of skin disorders. Laser therapy offers precise and targeted treatment options, while enhanced imaging systems facilitate early detection of conditions like skin cancer. As consumers and healthcare professionals alike increasingly recognize the importance of early diagnosis and effective treatment, the demand for dermatological products and services is expected to continue rising. This growing demand, coupled with ongoing advancements in the field, is anticipated to drive robust growth in the market in the coming years.
The increasing prevalence of teledermatology is a primary trend in the market. Telemedicine and virtual consultations have evolved significantly over the last ten years to represent a significant development in the worldwide market. Thanks to technological improvements, patients will be able to access dermatological consultations remotely. By eliminating regional restrictions and lowering the necessity for in-person appointments, this trend has completely changed the way individuals can obtain healthcare.
Moreover, patients can now reach dermatologists from the convenience of their homes, saving both time and effort. With telemedicine, dermatologists are able to treat life-threatening conditions such as skin cancer and offer the most appropriate treatment. Dermatological care has become more easily accessible to a wider population as a result of the increased demands in telemedicine and virtual consultations, and hence, it is expected to drive the growth of the market in focus during the forecast period.
The side effects and safety concerns are market challenges that may impede the growth. The increase in the incidence of skin disorders, such as skin cancer, acne, psoriasis, and eczema, has a profound impact on the overall market. Effective diagnosis, treatment, and monitoring of disorders are gaining traction as these diseases are becoming increasingly prevalent among individuals. In order to determine the precise diagnosis, offer specific treatments, and track the skin disorder's condition, dermal products, and services are essential.
Owing to the increasing prevalence of problems, there is a growing demand for skin care as patients and healthcare professionals seek more efficient, innovative treatments. Such factors are expected to drive the demand, which, in turn, will boost the growth of the global market during the forecast period.
The market 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 Market Customer Landscape
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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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Aesthetic Group: The company offers dermatology products such as biopsy punches and dermatological curettes.
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 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.
The market encompasses a wide range of dermatological products and treatments, addressing conditions such as atopic dermatitis, rosacea, and acne. Organizations like the American Academy of Dermatology Association and the American Cancer Society play pivotal roles in raising awareness and supporting research activities in the field. With ongoing R&D initiatives and funding from both private and government organizations, there's a continual advancement in dermatological products, including topical treatments like Rinvoq (upadacitinib), which offers relief to patients suffering from psoriatic arthritis and genital psoriasis symptoms. Additionally, technological developments in the pharmaceutical industry have led to alternative treatments such as light or laser therapies, chemical peels, and micro needling, catering to the diverse needs of patients. As the global dermatologicals market expands, key manufacturing companies invest in innovation, offering a wide array of prescription-based and over-the-counter drugs to address various skin-related diseases and conditions, particularly among teenagers dealing with hormonal imbalances.
The market is witnessing growth driven by factors such as the prevalence of skin diseases and advancements in dermatological products. R&D activities contribute to the development of topical dermatological products like Rinvoq (upadacitinib), offering new treatment options for patients with conditions like psoriatic arthritis and genital psoriasis symptoms. Funding from private and government organizations supports these advancements, addressing new melanoma cases and barriers to treatment. Alternative acne treatments such as light or laser therapies and microdermabrasion are gaining popularity, expanding investment pockets in dermatological procedures and services. Pharmaceutical technological developments and expenditure on healthcare products further propel market expansion, ensuring the availability of effective prescription-based drugs to manage skin conditions.
The market is witnessing remarkable growth driven by factors such as the advancement of dermatological products, increasing funding from private and government organizations, and the emergence of new cases. Innovative treatments like Rinvoq (upadacitinib) are addressing unmet needs for patients suffering from active psoriatic arthritis and symptoms of genital psoriasis. However, challenges persist, including the prevalence of bacterial infections and injuries, along with concerns about the side effects of certain treatments like tumor necrosis factor blockers. Despite these challenges, ongoing advancements and support from both public and private sectors are driving the market forward, ensuring better outcomes for dermatology patients.
Dermatology Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.82% |
Market growth 2023-2027 |
USD 12.76 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.64 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, Finland, China, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aesthetic Group, Alma Lasers Ltd., Bausch Health Co. Inc., Biofrontera AG, Bioglint Derma Care, Bruker Corp., Candela Corp., Canfield Scientific Inc., Cutera Inc., Cynosure LLC, Dermatology and Co., DermLite LLC, Ernst Pharmacia TM, Fourrts India Laboratories Pvt. Ltd., Genesis Biosystems Inc., HEINE Optotechnik GmbH and Co. KG, Image Derm Inc., LEO Pharma AS, Lumenis Be Ltd, and Novotech Health Holdings |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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. |
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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 Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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