Technavio Announces the Publication of its Research Report Global Dermatology Diagnostic Devices Market 2016-2020
Technavio recognizes the following companies as the key players in the global dermatology diagnostic devices market: Abbott Diagnostics, Heine Optotechnik, Michelson Diagnostics, Roche Diagnostics, STRATA Skin Sciences, and Welch Allyn.
Other Prominent Vendors in the market are: AGFA Healthcare, Bayer, Bio-Therapeutic, Bomtech, Bruker, Caliber Imaging & Diagnostics, CANFIELD Imaging Systems, Carl Zeiss, DermaSpectra, Dermlite, Dermsa, Dino-Lite, Firefly, FotoFinder Systems, GE Healthcare, KaWe Germany, Keyence Microscope, Leica Microsystems GmbH, Medisun, MedX Health, Nikon, Olympus, Olympus, OptikaMicroscope, Optomed, Philips, Photomedex, Pixience, Quanticare, Rudolf Riester, SciBase, Siemens, Toshiba Medical Systems, Verisante Technology, and ViseoMed.
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Commenting on the report, an analyst from Technavios team said: Growing importance of dermatology in cosmetic industry will be a key trend for market growth. The rise in skin disorder treatments in cosmetic dermatology field has led to a significant growth in the dermatology diagnostic devices market. Dermatology related cosmetic surgeries are gradually increasing due to growing attraction toward various cosmetic treatments and surgeries among the end-users. Cosmetic dermatology is considered as one of the most advanced fields in the dermatology industry, which gives priority toward improving individuals’ aesthetic appearance. The dermatology procedures and relevant medicine emphasize the diagnosis, prevention, and treatment of skin diseases. Cosmetic dermatology involves diagnosis and treatment for conditions such as benign skin growth, uneven skin pigmentation, fungal or bacterial infections, acne, and aging.
According to the report, emphasis on early diagnosis will be a key driver for market growth. Early diagnosis of skin cancer improves treatment efficacy and reduces the overall burden on society in terms of investment in research, diagnosis, and treatment. There is a significant focus on early diagnosis and improvement of the detection rate for skin disorders in order to reduce healthcare treatment costs, which will drive the global dermatology diagnostic devices market. Developing countries have to increase their spending dramatically to provide basic health insurance coverage, develop a primary healthcare service, and improve the availability of medications in rural and sub-urban areas. This is expected to result in the reformation of public hospitals and healthcare facilities, thereby propelling the growth of the global dermatology diagnostic devices market.
Further, the report states that one of the major challenges for the market will be stringent regulatory environment. The regulatory requirements for diagnostic devices worldwide are specific and regulatory bodies ask for the provision of in-depth technical information, as most of them are classified as class III medical devices. The waiting period for regulatory approvals is long, especially in the US, which can increase developmental expenses and delay return on investment. In Europe, the 98/79/EC of October 27 Directive is enforced on all medical in-vitro diagnostic (IVD) devices. Canada issues a license for medical products based on their category. This license is issued by the Health Canada authorities and the time taken to issue this license again depends on the category of the product. These licenses are subjected to annual renewal. Multinational vendors have to comply with various stringent regulatory conditions of each country, which affects their turn-around time, capital expenditure, and profitability. Thus, stringent regulations and delays in approval process hamper the growth of the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Dermatology Diagnostic Devices Market
The global dermatology diagnostic devices market is dominated by microscopes with a market share of 34% owing to its convenience in use. They are used in almost every skin diagnostic procedures to identify the skin condition/ailment. Technological improvements in the field of microscopy are focused on enhancing the accuracy and sensitivity of the detection mechanisms. Also, the rise in skin disorders such as melanoma, dermatitis, immune disorders, and infections has a significant impact on the market growth. For instance, according to Centers for Disease Control and Prevention (CDC), around 72,500 people in the US were diagnosed with melanoma skin disorder of which 30,000 were women and 42,500 were men.
Technavios analysts forecast the global dermatology diagnostic devices market to grow at a CAGR of 9.04% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global dermatology diagnostic devices market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of dermatology diagnostic devices.
The market is divided into the following segments based on geography:
Technavio’s report, Global Dermatology Diagnostic Devices Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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