Top 4 Drivers Aiding to the Growth of the Dermatology Diagnostic Devices Market until 2020, Reports Technavio

LONDON--()--Technavio analysts forecast the global dermatology diagnostic devices market to grow at a CAGR of more than 9% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global dermatology diagnostic devices market for 2016-2020. To estimate the market size, the report considers revenue generated through the sales of dermatology diagnostic devices.

To help in building preventive strategies, the move toward advanced non-invasive approaches for early diagnosis of skin-associated conditions will increase the need for dermatology diagnostic devices. The introduction of advanced dermatoscopy has achieved high success rate in identifying melanoma and other chronic skin disorders.

Molecular diagnostics is a recent addition to dermatology diagnosis and is becoming popular with its standard care and diagnostic specialties. The advances in molecular diagnostic testing technologies have led to an improvement in the precision, sensitivity, efficiency, and speed of clinical diagnostic procedures.

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Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global dermatology diagnostic devices market:

  • Increase in prevalence of melanoma and autoimmune skin diseases
  • Growing awareness about skin rejuvenation and other cosmetic treatments
  • Increase in demand for advanced dermatology diagnostic services
  • Emphasis on early diagnosis

Increase in prevalence of melanoma and autoimmune skin diseases

The growing prevalence of skin disorders and abnormalities are increasing the need for diagnosis. The use of dermatology diagnostic devices is gaining popularity owing to increase in the prevalence of skin disorders. Skin disorders are among the most common health problems globally and is collectively exceeding the prevalence of conditions such as hypertension, cancer, and obesity.

Barath Palada, a lead in-vitro diagnostics analyst at Technavio, says, “Autoimmune skin disorders are caused due to the abnormal immune response of body against foreign substances. This is known as autoimmunity and diseases acquired usually fluctuate between periods of flare-ups and remission.”

Growing awareness about skin rejuvenation and other cosmetic treatments

Efforts to update dermatologists and individuals are expected to contribute to the growth of the global dermatology diagnostic devices market. The initiatives taken by both government and private entities include regular education and training for physicians, public awareness programs, and increased funding for scientific and epidemiological research.

The increasing awareness and the need for improvement in diagnostic accuracy have increased responsibility and interest among practitioners in the field of dermatology. Accurate diagnosis and effective treatment depend on the proficiency of general practitioners and dermatologists,” adds Barath.

Increase in demand for advanced dermatology diagnostic services

The increase in demand for advanced dermatology diagnosis is substantially increasing in both developed and underdeveloped countries. The introduction of dermatoscope to diagnosis skin conditions has simplified the diagnostic approach and enabled ease of use for physicians, especially for less experienced physicians. Technological advancements in the field of dermatology diagnostic devices are focused on enhancing the accuracy and sensitivity of the detection mechanisms.

One of the recent trends is the use of digital dermatoscope for early detection of non-malignant melanomas. Use of mobile-based technologies for dermatology diagnosis is another advancement in the field of dermatology. For example, MetaOptima developed a mobile accessory device that is connected with smartphones and helps individuals in tracking and monitoring moles over a regular time period.

Emphasis on early diagnosis

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.

Top vendors:

  • Abbott Diagnostics
  • Heine Optotechnik
  • Michelson Diagnostics
  • Roche Diagnostics
  • STRATA Skin Sciences
  • Welch Allyn

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global dermatology diagnostic devices market to grow at a CAGR of more than 9% during the forecast period, according to their latest report.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com