Wilmington, Delaware, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Dermatology Diagnostics Devices Market by Product Type (Imaging Devices, Dermatoscopes and Microscopes), Application (Skin Cancer, Psoriasis and Others), and End User (Hospitals, Clinics and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the dermatology diagnostics devices market was valued at $4.1 billion in 2023, and is estimated to reach $8.6 billion by 2033, growing at a CAGR of 7.6% from 2024 to 2033.
Prime determinants of growth
Increase in prevalence of skin diseases, surge in preference of minimally invasive procedures, and rise in awareness about skin health and the importance of early detection of skin cancers are the major factors that drive the growth of the dermatology diagnostics devices market growth. However, the shortage of skilled diagnostics devices professionals and high cost of dermatology diagnostics devices restricts the market growth. Moreover, rise in technological advancements and growth opportunities in emerging markets offer remunerative opportunities for the expansion of the global dermatology diagnostics devices market.
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Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $4.1 billion |
| Market Size in 2033 | $8.6 billion |
| CAGR | 7.6% |
| No. of Pages in Report | 240 |
| Segments Covered | Product Type, Application, End User, and Region. |
| Drivers |
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| Opportunities |
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| Restraint |
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Segment Highlights
Rise in adoption of imaging devices
By product type, the imaging devices segment is driven by advancements in technology and the increasing demand for accurate and non-invasive diagnostic solutions. High-resolution imaging devices offer detailed visualization of skin structures, enhancing the early detection of skin conditions and cancers. The growing preference for non-invasive methods among patients and healthcare providers further propels this segment growth. Additionally, the integration of artificial intelligence (AI) in imaging devices improves diagnostic accuracy and efficiency, boosting their adoption. The rising incidence of skin disorders and the need for precise, real-time assessments also contribute to the robust growth of the imaging devices segment in dermatology diagnostics.
Increase in prevalence of skin cancer
By application, the skin cancer segment plays an important role in the market. This is attributed to increasing prevalence of skin cancers and the urgent need for early and accurate detection. In addition, rising incidence of melanoma and non-melanoma skin cancers drives demand for advanced diagnostic technologies that can provide detailed imaging and precise analysis. Moreover, heightened public awareness about skin cancer and the emphasis on preventive healthcare further support the growth of this segment.
Rise in adoption of diagnostics devices in hospitals
By end user, the hospital segment held a substantial portion of the dermatology diagnostics devices market share, primarily driven by surge in need for advanced, high-resolution diagnostic tools. Hospitals often serve as the primary centers for comprehensive skin cancer screening, diagnostic imaging, and complex dermatological assessments, requiring sophisticated equipment to manage a wide range of skin conditions. In addition, hospitals are equipped with the resources for maintaining and upgrading high-cost diagnostic devices, further contributing to their significant market share.
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Regional Outlook
North America Dominance by 2033
North America is poised to maintain its leadership in the dermatology diagnostics devices market owing to its advanced healthcare infrastructure, high prevalence of skin disorders, and substantial investments in medical technology. In addition, strong research and development activities, coupled with high levels of healthcare expenditure and favorable reimbursement policies, drive innovation and adoption of advanced diagnostic technologies which thereby drives the segment growth. The high awareness and proactive approach towards skin health among the population further supports market growth.
Key Players
- Michelson Diagnostics Ltd. (MDL)
- HEINE Optotechnik GmbH & Co. KG
- F. Hoffmann-La Roche Ltd
- Warner and Webster Pty Ltd
- DermLite
- FotoFinder Systems GmbH
- MetaOptima Technology Inc.
- KIRCHNER & WILHELM GmbH + Co. KG
- Rudolf Riester GmbH
- Illuco Co., Ltd.
The report provides a detailed analysis of these key players in the global dermatology diagnostics devices market. These players have adopted different strategies such as agreement, expansion, product launch, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments in Dermatology Diagnostics Devices Industry
- In February 2021, MetaOptima announced that it has received a Breakthrough Designation Device status by the U.S. Food and Drug Administration (FDA) for DermDx, a tool that harnesses the power of artificial intelligence to provide diagnostics for medical professionals about a patient’s potential skin cancer case.
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