Market Size of Dermatoscopes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Dermatoscopes Market Analysis
The dermatoscopes market is expected to register a CAGR of 11.8% over the forecast period.
Due to the high transmission rate of COVID-19, many countries across the world have suffered in terms of the country's economy and their healthcare system. The dermatology market observed some indirect and direct impacts of COVID. For instance, according to a research study published in Dermatologic Therapy Journal in October 2020, the management of dermatological diseases was quite difficult during the pandemic period. The recommended treatments and patient followups were redesigned. Approximately half of the patients with chronic skin diseases reduced or discontinued the treatment during the pandemic.
The increasing prevalence of skin diseases including skin cancer is anticipated to drive the demand for dermatoscopes during the forecast period. According to the report published by International Agency for Research on Cancer, the incidence of non-melanoma skin cancer was 1.2 million cases across the world in 2020. Similarly, melanoma cancer affected around 324,000 patients in 2020. The rising awareness about skin cancer due to the various awareness campaigns launched by the major players and non-profit organizations are influencing diagnostic procedures and therefore supporting the market growth. For instance, the American Academy of Dermatology (AAD) launched SPOT Skin Cancer in 2020 to increase awareness about skin cancer in the population. Similarly, in May 2021, the American Cancer Society (ACS) launched a Get Screened campaign that promotes regular cancer screening tests.
Moreover, the increasing research and development by the research institutes and market players in order to cater to the unmet needs related to skin disease diagnostics are anticipated to drive market growth. For instance, In July 2022, Sklip Inc announced FDA approval for the Sklip System AI tool, it can be manually attached to the smartphone or tablet without the need for an adapter. When aligned with the phone camera, the device allows the user to take HD images of their moles.
Therefore, owing to the increasing prevalence of skin diseases along with the increasing R&D in dermatoscopes to drive market growth. However, the high cost of dermatoscopes & presence of alternative diagnostic tools to hamper the market growth.
