Dermatology can be described as a specialized branch within medicine that deals solely with afflictions related to the hair, nails and skin. Dermatology specialists usually specialize in treating diseases related to these parts of the body as well as a few cosmetic alterations as required. During the last couple of decades, the diet of a majority of the population around the world has changed quite dramatically. This significant change has resulted in a dramatic rise in the number of acne and scar problems being reported. Thus, the Dermatology Market is in a good position to exhibit significant growth during the forecast period of 2016-2022.
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Scope & Regional Forecast of the Dermatology Market
The Dermatology Market reported a valuation of $20 Billion in 2015. This is set to rise to $33.7 Billion, with a CAGR of 7.7%, by the year 2022. There are a variety of factors contributing to this significant growth. During the 20th century, most dermatology devices as dermatology procedures were established offerings which rarely deviated from the mainstream path. However, the success of biologics have changed the game with as dermatology clinics and dermatology centers are reporting a rise in interest from pharmaceutical players. This renewed interest has resulted in several innovative dermatology treatments being availed to the public.
The Dermatology Market also expects external factors to play a significant role in the shaping the future of dermatologist services. A skin specialist is more likely to undertake as non-invasive procedures due to their rising popularity among the public. As people become more socially conscious and equipped with the necessary income, dermatology treatments are expected to grow even more popular. Currently, demand from North America dominated the Dermatology Market due to prevalence of skin disorders as well as skin cancer. Spurred by celebrity trends, the general public is also more enthusiastic about undergoing cosmetic surgeries so as to alter their appearance to their satisfaction.
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Segmentations & Key Players Involved in the Dermatology Market
The Dermatology Market can be broken down into various segments as follows:
Patient: Atopic Dermatitis, Acne Vulgaris and Psoriasis.
Treatment: Topical Corticosteroids, Calcineurin Inhibitors, Retinoids, Systemic Immunosuppressive Agents, Biologics, Antihistamines, Hormonal Therapy and Moisturizers.
Key Product: Humira (adalimumab), Remicade (infliximab), Enbrel (etanercept), Stelara (ustekinumab), Neoral (cyclosporine), Protopic (tacrolimus), Elidel (pimecrolimus), Elocon (mometasone furoate), Differin (adapalene), Metolate (methotrexate) and Clobex (clobetasol propionate).
Some of the key players involved in the Dermatology Market are as follows:
- Amd Global Telemedicine Inc.
- Ellipse A/S, Genesis Biosystems
- Agilent Technologies Inc.
- Lucid Inc.
- Michelson Diagnostics Ltd.
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