LONDON--(BUSINESS WIRE)--Technavio has announced its latest market research report on the global dermatology devices market for the period 2018-2022. The report provides an analysis of the most important trends anticipated to impact the market outlook through 2022. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio researchers, the market will grow at a CAGR of almost 7% during the forecast period. A major driver that has been promoting the growth of the market is the increased need for early diagnosis. The role of dermatology devices in the current healthcare environment has undergone rapid transformation. From early detection and improved diagnostics and treatment, the imaging industry has moved to imaging informatics, hybrid modalities, and follow-up treatment. Imaging systems assist physicians to follow up with patients and monitor their medical condition on a regular basis. This facilitates medical systems to achieve improved health outcomes and detect the effect of therapy for cancer patients. In cancer, multiple imaging techniques are used for the management of cancer, which makes it an integral part of clinical decision-making.
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In this report, Technavio highlights the adoption of multiple sales channels by vendors as one of the prominent trends in the global dermatology devices market:
Adoption of multiple sales channels by vendors
The growing customer base for devices such as dermatoscopes, light therapy devices, and laser devices has necessitated the need to increase their availability in a variety of retail stores such as mono brands and multi-stores, thereby making it convenient for consumers to purchase them. This helps in improving the shopping experience for consumers as well as brand visibility and brand retention. Many companies have a customer-friendly web interface for their products, which are sold under popular brands. Vendors are undertaking turnkey services that are planned to make the overall manufacturing process as streamlined as possible. These services comprise product formulation, fulfillment, packaging, graphic design, and drop shipping services.
“Online channels open additional avenues of revenue generation for vendors in the market. The availability of products, doorstep delivery, and convenience in purchase options are the factors which are fueling the growth of modern sales for dermatology devices such as dermatoscopes, light therapy devices, and laser devices. Owing to the modern sales channels, customers have the liberty to compare products among various suppliers and brands. This is helping them to make a profitable purchase,” says a senior analyst at Technavio for research on orthopedics and medical devices.
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Dermatology devices - market segmentation and analysis
This market research report segments the global dermatology devices market into the following applications (treatment and diagnostics) and key regions (the Americas, APAC, and EMEA).
The treatment segment held a market share of more than 76% in 2017. This was due to the rising need of treatment for skin-related problems. The market share of this segment is expected to decrease by approximately 2% during the forecast period.
In 2017, the dermatology devices market was led by the Americas with a market share of more than 47%. This was due to the early penetration of dermatology devices in the region. The Americas was followed by EMEA and APAC, respectively. The market share of the Americas is expected to decrease by nearly 2% during the period 2018-2022.
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