Dermatology Diagnostic Devices Market Share, Growth Drivers, Opportunities, Key Segmentation and Forecast 2021-2026

Healthcare Healthcare and Medical

The latest report by IMARC Group, titled “Dermatology Diagnostic Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, estimates that the global dermatology diagnostic devices market reached a value of US$ 740.2 Million in 2018. Dermatology diagnostic devices are used for the early detection and identification of several skin disorders. The diagnosis involves the use of devices such as microscopes, imaging devices, cameras and dermatoscopes to identify skin conditions such as cancer, pigmentation, acne, melanoma and psoriasis. It is usually performed through a visual examination of the affected skin, followed by microscopic observations of the surface. At present, advanced dermatology diagnostic devices are continuously replacing their traditional counterparts. For instance, dermatoscopes are widely utilized for better diagnosis of the disease as they project light on the skin and offer a magnified view of the skin structure, thereby yielding more precise results. Skin imaging technologies like q-space trajectory imaging (QTI), optical coherence tomography (OCT), polarized-light imaging and terahertz imaging are also extensively being used in the healthcare sector.

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Market Trends:

Rising prevalence of dermatological conditions and increasing concerns regarding skin health are the major factors driving the demand of the dermatology diagnostic devices across the world. A significant rise in conditions such as hair fall, psoriasis, acne, pigmentation, vascular lesion and eczema can be accredited to changing lifestyles and increasing pollution levels. This, along with the growing awareness about the benefits offered by non-invasive aesthetic procedures, has led to an increase in the adoption rates of these devices. Apart from this, growth in the geriatric population also acts as a major growth-inducing factor. Since aging skin is more prone to dermal disorders like skin cancer and invasive melanoma, the increasing number of elderly people has impelled the demand for these devices for diagnosing various conditions. In addition to this, product innovations such as the introduction of devices with compact size and easy-to-use features are also encouraging their demand. On account of the aforementioned factors, the global dermatology diagnostic devices market size is anticipated to exceed US$ 1,207.6 Million by 2024, exhibiting a CAGR of around 8% during forecast period.

Market Summary:

  • On the basis of the product type, the market has been divided into imaging devices, microscopes, immunoassays, molecular diagnostics and others. Amongst these, imaging devices represent the most preferred product type.
  • Based on the end use, the market has been bifurcated into hospitals, diagnostic labs and others. Currently, hospitals account for the majority of the total market share.
  • On the geographical front, North America exhibits a clear dominance in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The market consists of numerous small and large manufacturers. Some of the leading players operating in the market include Abbott Diagnostics, Strata Skin Sciences, Michelson Diagnostics, Heine Optotechnik, Roche Diagnostics, Welch Allyn, Carl Zeiss Meditec, Nikon Corporation, Leica Microsystems GmbH, MELA Sciences, Inc., GE Healthcare Ltd., Bruker Corporation, Philips Healthcare, Siemens Healthcare Diagnostics Inc., Toshiba Medical Systems Corporation, Photomedex, Inc.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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