Dermatology Diagnostic Devices and Therapeutics Market Aims Bigger with Technological Innovations by 2024

[Pavan Ishi]

The global dermatology diagnostic devices and therapeutics market is highly competitive and fragmented. There are many players in the devices and therapeutics market, says a forthcoming Transparency Market Research (TMR) report. The major players that are operating in the global dermatology diagnostic devices and therapeutics market include Astellas Pharma, Inc., Michelson Diagnostics Ltd, Genentech, Agfa-Gevaert N.V., and LEO Pharma A/S. These companies are focusing on research and development to bring in better products and therapeutic drugs in the global dermatology diagnostic devices and therapeutics market to penetrate into worldwide business.

Rising number of specialty dermatology clinics is projected to drive the global dermatology diagnostic devices and therapeutics market during the forecast period. As per the projections the market is expected to expand at 7.0% CAGR over the period 2017 to 2024. In terms of revenue estimation, the market is predicted to be valued at US$1,015.9 in diagnostic devices, while the therapeutics is expected to attain a valuation of US$ 20. 

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In terms of region, the global dermatology diagnostic devices and therapeutics market is expected to be ruled by the U. S. in North America region. Rising number of patients with skin diseases such as melanoma and availability of advanced devices is expected to boost the demand, owing to expansion of the global dermatology treatment device and diagnostic market in the near future. On the basis of diagnostics devices, the global dermatology diagnostic devices and therapeutics market is divided into Dermatoscopes, Microscopes and Trichoscopes, and Imaging Equipment. Of these, imaging equipment segment is expected to rule the global dermatology diagnostic devices and therapeutics market during the projected years. 

Rising Skin Disorders to Stimulate Market 

Due to changing lifestyle and improper eating and sleeping habits, there has been increasing skin related disorders.  Skin disorder such as dry skin, melisma, eczema, sun burns, psoriasis, ,etc Thus, the increasing demand for therapeutics is expected to expand the global dermatology diagnostic devices and therapeutics market. 

Growing concern over age related skin problems is expected to drive the global dermatology diagnostics devices and therapeutics market. Additionally, growth in cosmetology sector and improvements in the health care sector is projected to nudge the expansion of the global dermatology diagnostics devices and therapeutics market in the upcoming years. 

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Rising Awareness to Propel Growth 

Increasing awareness about aesthetic procedures that are non-invasive and ever growing technological advancements is expected to propel the demand for diagnostic devices and therapeutics. Increasing disposable income and healthy skin consciousness is foretold to drive the global dermatology diagnostic devices and therapeutics market during the projected years. 

Additionally, growing occurrences of skin cancer is fuelling the growth in the market. Age related skin tags, warts, and moles are expected to increase the demand for such devices and drugs. Growing prevalence of acnes, hormone based skin issues among adolescents   are also anticipated to create demand in the market. Thus, owing to the growth in the global dermatology diagnostic devices and therapeutics market.

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Non availability of medical reimbursement for non-invasive treatments, lack of post procedure care, and availability of low cost substitutes in the market is anticipated to hamper the growth of the global dermatology treatment device and therapeutics market in the upcoming years. 

Regardless of the restraints, advent of latest and advanced devices and treatment therapies are expected to create growth potential in the global dermatology diagnostic devices and therapeutics market in the future. 

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This review is based on the findings of a TMR report titled, “Dermatology Diagnostic Devices and Therapeutics Market (Diagnostic Devices - Dermatoscopes (Contact Oil Immersion Dermatoscopes, Cross-polarized Dermatoscopes, and Hybrid Dermatoscopes), Microscopes and Trichoscopes (Multispectral Photoacaustic Microscopy (PAM), Reflectance Confocal Microscopy (RCM), and Raman Spectroscopy), and Imaging Equipment (X-ray, Magnetic Resonance Imaging (MRI), Ultrasound, and Optical Coherence Tomography (OCT)); Drug Class - Antibacterial Agents, Antifungal Agents, Antiviral Agents, Corticosteroids, Retinoids, Immunosuppressants, and Biologics)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2024.” 

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