Dermatoscope Market: Global Industry Analysis and Forecast (2023-2029)

Global Dermatoscope Market is anticipated to reach US$ 2380.34 Mn. by 2029 from US$ 954.7 Mn. in 2022 at a CAGR of 13.94 % during a forecast period.

Dermatoscopy is a procedure that uses a dermatoscope to examine skin lesions. Dermatologists utilize the device to differentiate benign tumours from malignant (cancerous) lesions, particularly in the diagnosis of melanoma. To balance out the skin surface reflection, modern dermatoscopes employ liquid medium and polarised light. Using a digital epiluminescence dermatoscope, the photos or videos are digitally processed. DermLite, the first polarised dermatoscope, was launched by 3Gen and permits imaging of skin features using an immersion solution. When compared to a glass dermatoscope, the easy manner of detection and picture optimization provided an advantage in vascular pattern identification. However, recent advancements in dermatoscope technology enable imaging at the cellular and vascular levels, paving the door for early cancer identification and therapy.To know about the Research Methodology :- Request Free Sample Report
Dermatoscope Market Dynamics:
The high prevalence of skin cancer disease, the increase in patient awareness about skin cancer, the growth of research and development initiatives, and the reduction of the frequency of unnecessary surgical procedures, are all important driving factors in the dermatoscope market. According to the American Academy of Dermatology, the World Health Organization estimates that more than 65,000 individuals will die from melanoma in 2017.

Melanoma is expected to have killed 9,730 people in the United States in 2017. According to the World Health Organization, the number of new cancer cases is expected to climb by almost 70% over the next two decades. The growth of technologies like USB imaging and video imaging melanoma imaging is expected to propel the growth of the global dermatoscope market. However, the development of biological agents for melanoma diagnosis, as well as modern technologies like SPECT and PET, has made a significant difference.

The high prevalence of skin cancer disease increased patient awareness of skin cancer, the growth of research and development initiatives, and the reduction of the frequency of unnecessary surgical procedures, are all important driving factors in the dermatoscope market. The World Health Organization estimates that the number of new cancer cases would increase by over 70% over the next two decades. The growth of technologies such as USB imaging and video imaging melanoma imaging is expected to boost the global dermatoscope market forward.

Because changing size, form, and other features of moles on the skin might be possible markers of skin cancer, a rising prevalence of skin cancer, i.e. melanoma, is expected to fuel the growth of the market for next-generation dermatoscopes. The capacity of next-generation dermatoscopes to save the data of each diagnostic examination is critical in identifying any change in structural features, such as a change in mole size, appearance, and so on. The advanced nature of next-generation dermatoscopes allows clinicians to rely on the accuracy of recorded historical data, significantly higher magnification capacity to inspect skin, and other features that aid in the early detection of various skin problems.

Despite the technologically advanced nature of next-generation dermatoscopes, a limited number of dermatologists in various countries and the availability of this technology in the developing globe likely hamper the market's growth.
Segmentation Analysis:
By Technology, during the projection period, the LED segment is expected to grow at a CAGR of xx percent. LEDs emit substantially less heat during illumination, preventing inadvertent deaths, hence this technology is becoming increasingly popular. The illumination provided by these bulbs is also brighter than that provided by xenon and halogen bulbs. A pocket dermatoscope with LED light is known as an LED dermatoscope. LEDs produce less heat during illumination and prevent unforeseen mishaps, hence these gadgets are extensively utilized. Ultraviolet Technology, on the other hand, is expected to grow at a profitable CAGR throughout the projected period as a result of its debut as a contemporary technology in the field of dermatoscopy.

By End-Use, In terms of revenue, dermatological clinics held the largest part of the market in 2022. The rising prevalence of skin cancer and melanoma is increasing the number of individuals seeking treatment and care at dermatology clinics. The availability of refined and technologically superior medical equipment in dermatological clinics allows patients to receive faster and more accurate diagnoses, resulting in better therapy.

Hospitals held a significant proportion in 2022 because of the increased risk of skin cancer. Patients with cancer are more likely to go to hospitals for advanced diagnosis and treatment. Furthermore, the easy availability of experienced doctors in hospitals simplifies cancer diagnosis and treatment.
Regional Insight:
Due to an increase in the frequency of melanoma incidences among males caused by tanning and UV radiation, North America dominates the worldwide dermatoscope market. The yearly cost of treating skin cancers in the United States is estimated to be $8.1 billion, including $4.8 billion for nonmelanoma skin cancers and $3.3 billion for cancer, according to the Skin Cancer Foundation. Every day, more than 9,500 people in the United States are diagnosed with skin cancer. Every hour, more than two people succumb to the illness.

Europe is the second-largest market for dermatoscopes, owing to favorable government policies on healthcare infrastructure and public awareness of skin cancer. Because of the rising population, changing lifestyles increased awareness of skin malignancies, and rising per capita spending, the Asia Pacific market is expected to rise at a faster rate. Because of the rising population, changing lifestyles increased awareness of skin malignancies, and rising per capita spending, the Asia Pacific market is expected to rise at a faster rate. Furthermore, in developing countries such as India, Brazil, and China, economic growth and an increase in medical tourism, as well as research and oncology laboratories, are assisting in the strengthening of health care infrastructure. As a result, all of the aforementioned reasons contribute to the dermatoscope market's growth in the Asia Pacific and Latin America.
Report Objectives:
Landscape analysis of the Dermatoscope Market

competitive benchmarking

Past and current status of the industry with the forecasted market size and trends

Evaluation of potential key players that include market leaders, followers, and new entrants

Technology trends

Potential impact of micro-economic factors of the market

External and Internal factors affecting market have been analysed

The report also helps in understanding the Dermatoscope Market dynamics, structure by analysing the market segments and project the Dermatoscope Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Dermatoscope Market make the report investor’s guide.
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Dermatoscope Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 954.7  Mn


Forecast Period 2023 to 2029 CAGR:
13.94  %
Market Size in 2029:
US $ 2380.34  Mn.


 Segments Covered:
by Product
Contact Dermatoscope
Hybrid Dermatoscope
Non-Contact Dermatoscope


by Technology
LED
Xenon
Halogen
Ultraviolet


by Method
Hand-Handled
Trolley Mounted
Headband


by Application
Skin Tumors
Scabies
Warts
Fungal Infections
Others


by End-Use
Dermatology Clinics
Hospitals



Dermatoscope Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
South America (Brazil, Argetina and Rest of South America)
Dermatoscope Market Key Players are:
1. Canfield Scientific, Inc.
2. 3Gen
3. FotoFinder Systems, Inc.
4. Optilia Instruments
5. HEINE Optotechnik GmbH & Co.
6. KGCaliber Imaging & Diagnostics, Inc.
7. Firefly Global
8. Welch Allyn
9. Bio-Therapeutic Inc.
10. ILLUCO Corporation Ltd.
11. Dino-Lite
12. Rudolf Riester GmbH
13. NIDEK CO., LTD.
14. KIRCHNER & WILHELM GmbH + Co. KG
15. Canfield Scientific, Inc.
Frequently Asked Questions
1. What is the projected market size & growth rate of Dermatoscope Market?
Ans- Dermatoscope Market was valued at USD 954.7 million in 2022 and is projected to reach USD 2380.34 million by 2029, growing at a CAGR of 13.94 % during the forecast period.

2. What are the key driving factor for the growth of Dermatoscope Market?
Ans- The high prevalence of skin cancer disease, the increase in patient awareness about skin cancer, the growth of research and development initiatives, and the reduction of the frequency of unnecessary surgical procedures, are all important driving factors in the dermatoscope market.

3. Which Region accounted for the largest Dermatoscope Market share?
Ans- Due to an increase in the frequency of melanoma incidences among males caused by tanning and UV radiation, North America dominates the worldwide dermatoscope market.

4. What makes Europe a Lucrative Market for Dermatoscope Market?
Ans- Europe is the second-largest market for dermatoscopes, owing to favorable government policies on healthcare infrastructure and public awareness of skin cancer.

5. What are the top players operating in Dermatoscope Market?
Ans- Canfield Scientific, Inc., 3Gen, FotoFinder Systems, Inc., Optilia Instruments, and HEINE Optotechnik GmbH & Co.