Market Research Future (MRFR), in its recently published study report, asserts that the global market of Dermatology Diagnostic Device is forecasted to perceive a phenomenal valuation by 2022, registering a significant CAGR throughout the predicted period (2017 – 2022). Technological advancements in the field of smart and connected devices along with the growing penetration of the Internet of Things (IoT) and Artificial Intelligence (AI) in the medical devices foster the market growth.
Additional factors propelling the market growth include the changing lifestyle led by the growing urbanization & industrialization coupled with the improving economic conditions that enable access to the quality of life & to the improved healthcare worldwide. Advancements in surgeries, fuel the market growth. Furthermore, factors such as increasing number of skin diagnosis procedures and rising demand for new techniques for diagnosis of chronic skin diseases provide significant impetus to the market growth.
Many countries around the world, including well-developed and developing regions, are grappling with a shortage of dermatologists. Patients currently need to wait on average of 70 days for a consultation. Simultaneously, some skin care diagnosis especially the skin cancer diagnosis is costly, time-consuming and suboptimal.
To respond to the situation, manufacturers are developing devices with the advanced technologies. To identify the unmet clinical needs typically, in close collaboration, some caregiving facilities are aiming to have high-quality screening available in pharmacies that will provide a severity grade for the lesion and then refer the patient to the dermatologist, depending upon the conditions.
Certainly, the intervention of AI technology in medical devices as such could improve the sensitivity and specificity of diagnosis, improve the confidence of dermatologists and improve the estimation of excision margins while reducing the total diagnosis cost. Especially in cases, where lesions have to be removed twice, imposing extra cost and trouble for the patient.
Conversely, factors such as prohibitive costs associated with these devices and the increasing awareness and availability in the developing as well as in the developed regions are some of the key factors impeding the market growth. Adversely, new products and services available in the developing and well as developed countries and the presence of well-established market players are expected to provide impetus to the market growth, filling up the demand and supply gap.
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Global Dermatology Diagnostic Device Market – Key Players
Key players profiled in the report are:
- Valeant Pharmaceuticals (Canada)
- Alma Lasers, Ltd. (Israel)
- Cutera, Inc. (U.S.)
- Lumenis, Ltd. (Israel)
- Cynosure, Inc. (U.S.)
- Dino-Lite Europe/IDCP B.V.
- Genentech, Inc., (US)
- Michelson Diagnostics Ltd., (UK)
- Galderma S.A., (Switzerland)
Industry/Innovations/Related News:
November 14, 2018 – MedX Health Corp. (Canada) announced that it is in the process of developing an Artificial Intelligence Engine with leading dermatologists and its technology partner, Blanc Labs, that will work in conjunction with its existing DermSecureTM screening platform. MedX is leveraging Artificial Intelligence to create a unique assessment support tool that will allow Dermatologists to assess suspicious moles and lesions from remote locations more accurately.
July 12, 2018 – Pixience Healthcare Solutions (France), a leading global provider of dermatology devices, an imaging specialist and innovative solutions provider for the dermatologists and CHUs announced that it is developing a tool that can quickly and reliably diagnosis benign moles or malignant melanomas to improve the diagnosis of skin cancer.
Global Dermatology Diagnostic Device Market – Segments
MRFR has segmented the analysis into four key dynamics; for better understanding: –
By Diagnostic Device Type: Dermatoscopes, Microscopes, and Imaging Devices among others.
By Application: Skin Cancer Diagnostics and Skin Lesion among others.
By End-user: Hospitals, Research Centers, Institutions, and others.
By Regions: Europe, North America, APAC and Rest-of-the-World.
Global Dermatology Diagnostic Device Market – Regional Analysis
The North American region accounts for the dominating market for dermatology diagnostic devices. Factors such as increasing governmental support for R&D activities, extensive uptake of technologically advanced medical devices, and high expenditures for health care substantiate the growth of the market in the region. The market is estimated to evaluate phenomenally by 2022 due to the increasing prevalence of skin diseases.
The European region accounts for another lucrative market for dermatology diagnostic devices. Factors contributing to the market growth include the increasing emphasis on the development of advanced diagnostic devices and the rising government support & funding for R&D activities. Simultaneously, the growing numbers of specialty services offered by various healthcare providers foster the market growth in the region.
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The Asia Pacific region is rapidly emerging as a promising market for dermatology diagnostic devices. Increasing incidences of skin disorders are fueling the market growth. Additional factors such as the increasing demand for quality devices in the healthcare and rapidly developing healthcare technology is projected to increase the use of advanced equipment, which, in turn, is expected to propel the growth in the APAC market.
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