Dermatology Diagnostic Devices and Therapeutics Market: Analyst’s Forecast

While the jury is still out on what exactly causes hair loss, whether it is thyroid disease, pollution, protein deficiency, or simply a lack of care – cases are proliferating. As hair loss directly impacts the appearance of an individual – urban populations with increased disposable income in an Instagram- and Facebook-driven world are opting for innovative methods to regain lost hair or at least control further hair fall.

global dermatology diagnostic devices and therapeutics market

Skin care is another segment of the healthcare industry that is currently flourishing, gaining traction from the growing demand for anti-aging products in geriatrics-dominated developed countries such as the U.S. and the U.K and the pursuit of fairness among Asians, particularly in the vastly populated emerging economy of India.

Dermatology is the branch of medical science that deals with both of the aforementioned concerns, which are now ubiquitous across the world. Rigorous research and developments have happened in the field of dermatology in the recent past, paving way to devices that are efficient in diagnosing the cause and intensity as well as providing a logical therapy. According to this business intelligence study, the demand in the global dermatology diagnostic devices and therapeutics market will expand at a formidable CAGR of 7.0% during the forecast period of 2017 to 2024. Revenue-wise, the market for dermatology therapeutics will produce opportunities worth US$20,073.0 million, whereas the global dermatology diagnostic devices market is forecasted to be worth US$1,015.9 million by 2017.

Apart from increase number of cases of hair loss and skin diseases and advancements in the field, the dermatology diagnostic devices and therapeutics market is gaining impetus from the mushrooming of specialty clinics. In addition to that, growth of the cosmetics sector and emergence of ecommerce is expected to reflect positively over this market. On the other hand, substantial cost of dermatology diagnostic devices and related therapies are obstructing the market from attaining greater profitability.

Imaging Equipment Leading Diagnostic Devices Segment

Based on diagnostic devices, the market for dermatology has been segmented into imaging equipment, microscopes and trichoscopes, and dermatoscopes. The report divides imaging equipment into magnetic resonance imaging (MRI), X-ray, optical coherence tomography (OCT), and ultrasound, whereas microscopes and trichoscopes have been further sub-segmented into reflectance confocal microscopy (RCM), multispectral photoacaustic microscopy (PAM), Raman spectroscopy, and others. Moreover, dermatoscopes have been bifurcated into hybrid, cross-polarized, and contact oil immersion dermatoscope. Among these, the sub-segments of imaging equipment constituted for a revenue of 479.1 million in 2017 and the demand for the same is primed to expand at an above-average CAGR of 7.4% during 2017 to 2023. Owing to their proven detection results, real-time diagnostic image formation, and high sensitivity - the imaging equipment segment is flourishing.

Antibacterial High Demand Drug Class among All

On the basis of drug class or therapeutic agent, the market has been categorized into biologics, immunosuppressant, retinoids, corticosteroids, antiviral agents, antifungal agents, and anti-bacterial. As of 2017, antibacterials provided for the most prominent chunk of demand, and is estimated generate a revenue of US$6,634.6 million by the end of 2024. Antibacterial drugs have been utilized by humans since the discovery of first antibiotic penicillin in 1928. Topical antibacterial, including mupirocin or clindamycin, are often used to treat or prevent infection. Additionally, drugs such as anthralin, although not used often, help reduce inflammation and can help treat psoriasis. Apart from topical antibacterials, oral antibiotics are used to treat many skin conditions. Common oral antibiotics used in the treatment of bacterial infections include erythromycin, tetracycline, and dicloxacillin.

Geographically, the developed country of the U.S. makes North America are the most lucrative region for the vendors operating in the global dermatology diagnostic devices and therapeutics market. As of 2017, the North America dermatology market was worth US$302.5 million and the demand from the region is projected to expand at most promising CAGR of 7.64% during 2017 to 2023. The U.S. dermatology market is driven by high patient base of skin disorders such as melanoma of the skin, psoriasis, and impetigo. While Europe is second most profitable region, Asia Pacific is showcasing stronger growth potential.

Novartis International AG, Dino-Lite Europe/IDCP B.V., Agfa-Gevaert N.V., Cutera, Inc., Genentech, Galderma S.A., Michelson Diagnostics Ltd., and Valeant Pharmaceuticals International, Inc. are some of the most prominent companies currently operating in the global dermatology diagnostic devices and therapeutics market.

 

Dermatology Diagnostic Devices and Therapeutics Market: Scope and Methodology

This report on the global dermatology diagnostic devices and therapeutics market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.

The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment and sub-segment for the period from 2014 to 2024, considering the macro and micro environmental factors. Growth rates for each segment within the global dermatology diagnostic devices and therapeutics market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.

A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global dermatology diagnostic devices and therapeutics market.

Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2017 to 2024 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of product features of different types of diagnostic devices and therapeutics. Additionally, market related factors such as increasing preference for technologically advanced services, product innovation, and increasing prevalence of acute skin conditions, chronic skin conditions, skin infections and other dermatology diseases in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.

Dermatology Diagnostic Devices and Therapeutics Market: Segmentation

Based on product type, the global dermatology diagnostic devices market has been segmented dermatoscopes, microscopes & trichoscopes, and imaging equipment. These segments are further categorized into sub-segments such as contact oil immersion devices, cross-polarized devices and hybrid devices in dermatoscope segment; multispectral confocal microscope, reflectance confocal microscope, Raman spectroscope, and others in dermatology microscopes and trichoscopes segment; and imaging equipment are sub-segmented into x-ray, magnetic resonance imaging, ultrasound, optical coherence tomography, and others.

Based on the drug class, global dermatology therapeutics market is sub-segmented into antibacterial agents, antifungal agents, antiviral agents, corticosteroids, retinoids, immunosuppressant, and biologics.

Geographically, the global dermatology diagnostic devices and therapeutics market has been segmented into six regions: North America, Europe, Asia Pacific, Latin America, Middle East & North Africa, and Rest of the World. In addition, the regions have been further segmented by major countries from each region. These include the U.S., Canada, the U.K., Germany, China, Japan, India, Australia, Brazil, Egypt, Kuwait, Saudi Arabia, and UAE.

Dermatology Diagnostic Devices and Therapeutics Market: Vendor Analysis

The report also profiles major players in the dermatology diagnostic devices and therapeutics market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Agfa-Gevaert N.V., Astellas Pharma, Inc., Cutera, Inc., Dino-Lite Europe/IDCP B.V., Galderma S.A., Genentech, a Roche Company, GlaxoSmithKline plc., LEO Pharma A/S, Michelson Diagnostics Ltd., Novartis International AG, Valeant Pharmaceuticals International, Inc., Canfield Scientific, Inc.

Global Dermatology Diagnostic Devices Market, by Product Type

  • Dermatoscopes
    • Contact Oil Immersion Dermatoscope
    • Cross-Polarized Dermatoscopes
    • Hybrid Dermatoscope
  • Microscopes and Trichoscopes
    • Multispectral Photoacaustic Microscopy (PAM)
    • Reflectance Confocal Microscopy (RCM)
    • Raman Spectroscopy
    • Others
  • Imaging Equipment
    • X-ray
    • Magnetic Resonance Imaging (MRI)
    • Ultrasound
    • Optical Coherence Tomography (OCT)
    • Others

Global Dermatology Therapeutics Market, by Drug Class

  • Antibacterial Agents
  • Antifungal Agents
  • Antiviral Agents
  • Corticosteroids
  • Retinoids
  • Immunosuppressants
  • Biologics

Global Dermatology Diagnostic Devices and Therapeutics Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & North Africa
    • Egypt
    • Kuwait
    • Saudi Arabia
    • UAE
    • Rest of Middle East & North Africa
  • Rest of the World (RoW)