A dermatoscope is a handheld medical device that aids in the examination of skin lesions. It allows magnified, light-based examination of skin lesions, moles, and other features not readily visible to the unaided eye. Dermatoscopes are used by dermatologists and other medical professionals to aid in the early detection of melanomas and other skin cancers. Increased awareness about skin cancer and rise in its incidence rates have boosted the demand for dermatoscopes across the globe.
The global Dermatoscope Market is estimated to be valued at US$ 951.1 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights..
Market Dynamics:
Older individuals are prone to several skin conditions like warts, rashes, and other dermatological disorders. As per United Nations Population Division data, the global geriatric population is expected to reach 2.1 billion by 2050 from 727 million in 2020. Expanded aging demographics will drive up demand for dermatoscope examinations over the forecast period.
Rise in prevalence of melanoma and non-melanoma skin cancer: According to Skin Cancer Foundation, around 1 in 5 Americans will develop skin cancer by the age of 70. In the U.S. alone, nearly 5 million cases of skin cancers are treated each year, costing over $8.1 billion annually. Growing incidence rates of melanoma and non-melanoma cancers such as basal cell carcinoma and actinic keratosis will augment the need for early diagnosis using dermatoscopes during the forecast period.
Segment Analysis
The global Dermatoscope market is segmented on the basis of product, modality, application and end user. Based on product, the Dermatoscope market is segmented into contact dermatoscope, hybrid dermatoscope and non-contact dermatoscope. Among these, the contact dermatoscope segment is dominating the market owing to its ability to provide high resolution images by placing the device lens or sensor directly on the skin. Based on modality, the Dermatoscope market is segmented into handheld and trolley mounted. The handheld segment accounts for the largest share as these devices offer high portability and easy usage.
PEST Analysis
Political: Government regulations regarding medical imaging devices approval and manufacturing are impacting the growth and competition in the Dermatoscope market.
Economic: Rising disposable income and growing health awareness is driving the demand for Dermatoscope especially in developing nations.
Social: Increasing incidence of skin diseases and growing focus on early detection is a key factor boosting adoption of Dermatoscope for regular skin screening.
Technological: Advancements in image processing technologies and integration of artificial intelligence is allowing higher resolution and automated skin lesion analysis using Dermatoscope.
Key Takeaways
The Global Dermatoscope Market Size is expected to witness high growth due to rising geriatric population suffering from various skin diseases. The global Dermatoscope Market is estimated to be valued at US$ 951.1 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.
Regional analysis related content comprises Regional analysis related content
North America accounts for the largest share in the global Dermatoscope market owing to factors such as rising prevalence of melanoma and well-developed healthcare infrastructure. Europe is the second largest market for Dermatoscope due to increasing awareness regarding skin diseases. Asia Pacific region is poised to witness fastest growth over the forecast period owing to growing medical tourism, rapid economic development and rising healthcare spending in countries like India and China.
Key players related content comprises
Key players operating in the Dermatoscope market are Canfield Scientific, Inc., ILLUCO, HEINE Optotechnik GmbH & Co. KG, Tejco Vision, 3Gen, FotoFinder Systems, Caliber Imaging and Diagnosis, Firefly Global, Bio-Therapeutic, AMD Global Telemedicine, Rudolf Riester GmbH, and Barco. Canfield Scientific, Inc dominates the market owing to its wide range of products and strong distribution network across major markets. HEINE Optotechnik GmbH & Co. KG holds significant share due to its innovative technologically advanced Dermatoscope devices.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it