Ottawa, March 07, 2023 (GLOBE NEWSWIRE) -- The dermatoscope market size was accounted at USD 0.82 billion by 2022. Dermatoscope is a medical device that allows a deeper visualization of skin layers to diagnose skin-related issues such as infection, cancer, tumors, scabies, and many others. The advancements in skin care treatment options globally have boosted the dermatology sector. The dermatoscopy devices also deal with hair and nail-related issues, widely used in hair fall and nail extension treatment. In recent years, video or digital dermatoscopy devices have gained popularity as they provide a closer view of patients' skin structures for distant healthcare providers. Dermatoscopes used in the dermoscopy process can photograph and store the images for later evaluation. Dermatoscopes are usually handheld and lightweight. However, technological advancement in the global dermatoscope market has welcomed trolley-mounted and headband dermatoscopes.
Key Takeaways:
- By product, the contact dermatoscopes segment has accounted revenue share of 37.7% in 2022.
- By technology, the LED segment has generated revenue share of 42.8% in 2022.
- By modality, the handheld devices segment has captured revenue share of over 52.3% in 2022. However, the headband dermatoscopes segment is poised to grow at a CAGR of 12.7% between 2023 to 2032.
- By end-use, the dermatology clinics segment has held revenue share of 57% in 2022.
- North America region has accounted for 38% of total revenue share in 2022.
- The Asia Pacific is anticipated to reach at a CAGR of 13.8% from 2023 to 2032.
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The dermatoscopy devices have increased the reliability of diagnosis and reduced the period for the diagnosis process. Apart from the diagnostic of skin cancer, dermatoscopy is used in the process of cosmetic surgeries. The rising importance of enhancing physical appearance has boosted the number of people approaching cosmetic surgeries. Advanced dermoscopy devices are used in cosmetic surgeries to evaluate skin structure at close range. Rapidly developing healthcare infrastructure in several regions has forced the dermatology sector to adopt advanced dermatoscopy devices in order to receive the best possible patient outcomes.
However, the Covid-19 pandemic negatively impacted the global dermatoscope market due to reduced patients' visits to hospitals and dermatology clinics to contain the spread of Coronavirus. Along with this, dermoscopy and skin surgeries were delayed during the pandemic, whereas the imposed lockdown negatively impacted the manufacturing and supply chain for dermatoscopy devices in the market.
Report highlights:
- The rising prevalence of skin cancer across the globe is anticipated to speed up the growth of the global dermatoscope market.
- North America dominates the market due to rising skin healthcare awareness. In contrast, Asia Pacific will show a significant increase during the forecast period of 2023-2032.
- Advancement in dermatoscopic devices, such as the invention of digital dermatoscopes, has boosted the growth of the global dermatoscope market.
- The LED-based technology segment is projected to show significant growth in upcoming years due to the reduced risk of accidental facilities with the utilization of LED technology.
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| Report Scope | Details |
| Market Size in 2032 | USD 2.4 Billion |
| North America Revenue Share | 38% in 2022 |
| LED Segment Share | 42.8% in 2022 |
| Handheld Devices Segment Share | 52.3% in 2022 |
| Key Players | Ottilia Medical, Firefly Global, Dino-Lite Company, Bio-Therapeutic, 3Gen Consulting, NIDEK, Co., Ltd., FotoFinder Systems GmbH, and others |
Regional snapshot:
North America holds the largest revenue share in the global dermatoscope market and is projected to lead the market during the forecast period of 2023-2032. Rising skin tumors and the presence of technologically advanced healthcare infrastructure are considered significant factors are driving the growth of the dermatoscopy market in North America. Major key players such as Firefly Global, Bio-Therapeutic, Canfield Scientific, and 3Gen Consulting have contributed to the development of the dermatoscopy market in North America.
The presence of key players such as FotoFinder Systems, Rudolf Riester GmbH, Kirchner & Wilhelm GmbH, and Heine Optotechnik has boosted the growth of the dermatoscopy market in Europe with significant investments and invention of advanced dermatoscopy technology. Moreover, the rising cases of skin disorders, mainly skin tumors in older people, have propelled the growth of the dermatoscopy market in Europe. Countries such as Germany, U.K. & France are projected to show a significant increase in the demand for advanced dermatoscopy devices. The rising standards of living in European society are seen as another factor to propel the overall progress of the dermatology sector in the region.
Asia Pacific will likely experience rapid growth in the dermatoscopy market with developing healthcare infrastructure in developing countries. The booming demand for cosmetic surgeries, especially in South Korea and Japan, has shown significant growth for the dermatoscope market in the Asia Pacific. However, expensive dermatology treatments are likely to hamper the market in developing countries in the Asia Pacific.
Latin America holds the potential for the growth of dermatoscope market with rising awareness of skin cancer and skin tumors. The growing expendable income has improved the buying power of countries such as Brazil and Argentina, which is likely to enhance/develop the healthcare sector that will directly benefit the dermatoscope market in Latin America. The dermatoscope market in the Middle East and Africa is still growing. The availability of advanced healthcare infrastructure and investments by market players will boost the growth of dermatoscope market in the region.
Market dynamics:
Driver:
Increasing prevalence of skin cancer
Skin cancer is seen as the fastest-growing type of cancer. Dermatoscope devices play a primary and significant role in diagnosing skin cancer. Rising cases of skin cancer have boosted the demand for dermoscopy in the healthcare sector. Melanoma is the fastest-growing type of skin cancer which leads to several deaths due to improper treatment. Dermoscopy increases the accountability of the presence of cancerous factors in the skin by giving proper visualization of deeper skin layers to dermatologists. The rising awareness of early skin cancer detection among the population will drive the dermatoscope market during the forecast period of 2023-2032. The utilization of dermatoscope devices in detecting skin cancer or skin tumor has enhanced the accuracy of results in dermatology units. Thus, dermatologists are seen adapting advanced dermatoscope devices for diagnosis purposes, boosting the global dermatoscope market.
Restraint:
High cost associated with the dermoscopy and dermatoscope devices
The high cost associated with dermoscopy process likely hampers the growth of dermatoscope market. The tools used in the dermoscopy for quality imaging of skin structure increase the overall cost of the treatment. On the other hand, the dermatoscope devices available in the market are expensive, which makes it a restraining factor for dermatologists in low-income countries to adapt the dermoscopy technology. Low cost dermatoscope devices come with inferior resolution which directly impacts on the outcomes of dermoscopy. Thus, advanced and quality dermatoscope devices preferred by dermatologists are costly. The relatively high cost associated with the dermatoscope devices results in disadvantages for developing or backward countries.
Opportunity:
Technological advancement in the dermatoscope devices
The rising demand for technologically advanced dermatoscopes brings multiple opportunities for investors as well as research and development sector in the global dermatoscope market. The rising prevalence of skin disorders and increasing demand for cosmetic surgeries across the globe will require advanced technology to ensure faster and reliable results from dermoscopy. Technologically advanced dermatoscope devices such as video dermatoscope or digital dermatoscope with advanced and high-resolution imaging facilities will benefit the dermatologists. Considering the increasing demand for advanced dermatoscope devices, the opportunity for every segment to grow in the global dermatoscope market increases.
Challenge:
Availability of SPECT and PET procedures
Single photon emission computing tomography (SPECT) and positron emission tomography (PET) are considered alternative procedures for diagnosing skin cancer, creating a challenge for the growth of global dermatoscope market. SPECT and PET are nuclear imaging technologies used in the diagnosis of melanoma. In recent years PET technology has shown significant improvement in managing patients with melanoma or non-melanoma as it carries super spatial resolution for imaging. The rising utilization of SPECT and PET, owing to their high-resolution imaging capacity, can obstruct the growth of the global dermatoscope market.
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Recent developments:
- In July 2022, Stanford Medicine researchers stated that the smartphone application SkinIo is highly resourceful in diagnosing skin cancer. The SkinIo application highlights suspicious images that can help dermatologists detect skin cancer quickly and effectively.
- In March 2021, Health Secretary Matt Hancock announced NHSX funding of 5 million euros for teledermatology services in England. The funding will be used to speed up the digital technology used to diagnose skin diseases.
- In January 2022, a medical technology company, STARTA Skin Sciences, Inc, announced the acquisition of Theravant Corporation's TheraClear System.
Market Segmentation:
By Product
- Contact
- Hybrid
- Non-contact Dermatoscope
By Technology
- LED
- Xenon
- Halogen
- Ultraviolet
By Method
- Handheld
- Trolly Mounted
- Headband
By Application
- Skin cancer
- Scabies
- Warts
- Fungal Infection
- Others
By End-User
- Hospitals
- Dermatology Clinics
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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