The global dermatoscopes market size is expected to reach USD 1.7 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 13.6% during the forecast period. Dermatoscopy plays a vital role in screening for skin cancer, which has resulted in early detection and identification of pigmented lesions. Benign pigmented moles possess a certain risk of developing melanoma.
Skin cancer is a chronic disease affecting a large population of the world. Rising incidence of melanoma and nonmelanoma skin cancers is providing an upthrust to the market. Certain moles, such as giant congenital pigmented hairy moles, are at high risk of developing melanoma. This has boosted the need for effective diagnosis with dermatoscopes.
In April 2016, The Skin Cancer Foundation initiated a month-long education and fundraising campaign during the Skin Cancer Awareness month. Early detection has been proved to be very useful in its effective treatment. Hence, rising number of awareness campaigns is estimated to fuel the demand for dermatoscopes, which is anticipated to propel the market. Earlier, the usage of these technologically advanced devices was limited to detection of noninvasive melanoma. However, with technological advancements, their application has widened to advanced diagnosis of various skin disorders.
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Further key findings from the study suggest:
- Contact dermatoscopes dominated the market in 2017 owing to abundant availability of these products
- Hybrid dermatoscopes are anticipated to exhibit lucrative CAGR over the forecast period owing to unique features of contact as well as noncontact dermatoscopes
- In 2017, LED technology held the largest market share owing to benefits associated with its usage, which include exact light intensity, color, and, homogeneity rendering precise diagnosis
- Handheld devices generated maximum revenue share in 2017 due to the fact that they are relatively compact and consist of rechargeable batteries that enable easy manoeuvring across the body
- Amongst end use segments, dermatology clinics dominated the market in 2017 and is also expected to exhibit attractive growth over the forecast period
- The availability of sophisticated and technologically advanced medical equipment at dermatology clinics provides patients quick and rapid diagnosis, which helps deliver better treatment
- North America held largest market share in 2017 owing to increase in the prevalence of skin cancer and growth in the adoption of advanced diagnostic technologies in this region
- Asia Pacific is anticipated to exhibit attractive growth over the forecast period due to the introduction of novel technologies in countries such as Japan and China
- Some of the key market participants are 3Gen; Optilia; Firefly Global; HEINE Optotechnik GmbH & Co. KG; FotoFinder Systems, Inc.; Caliber Imaging & Diagnostics, Inc.; ILLUCO Corporation Ltd.; Bio-Therapeutic, Inc.; and Welch Allyn
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