Global Dermatoscopes Market, by Product (Contact Dermatoscope, Hybrid Dermatoscope, and Noncontact Dermatoscope), by Technology (LED, Xenon, Halogen, and Ultraviolet), by Modality (Handheld, Trolley Mounted, and Headband), End-Use (Dermatology Clinics and Hospitals), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global dermatoscopes market in 2020 is estimated for more than US$ 616.0 Mn and expected to reach a value of US$ 1,608.3 Mn by 2028 with a significant CAGR of 12.8%.
As per the report, the dermatoscopes market is primarily driven by the elevated occurrence of skin disorders. The factors like the expensive nature of diagnostic imaging processes via MRI and X-ray devices, adoption of technically advanced products and the growing awareness in developing countries also affect positively on the market business.
Furthermore, the elevated count of geriatric population across the globe, growing demand for dermatologists and the booming cosmetic industry segment also boost the growth of the dermatoscopes market. The benefits of dermatoscopes of being non-invasive and simple diagnosis also contribute to increasing the demand for such cosmetic products globally.
Besides, mounting population growth, changing lifestyles and increasing disposable income are some other growth-supporting factors for the market.
Moreover, the economic growth and the rising medical tourism to create awareness about skin disorders and their treatments with advanced technology supporting healthcare infrastructure in emerging nations also propels the market growth.
However, the expenses linked with dermatoscopes coupled with the availability of the latest technologies accounting to SPECT and PET restricts the market growth. On the contrary, the on-going technological advancements, invention of teledermatoscopy and the increasing popularity of dermatology in the cosmetic industry are some of the scenario changing market trends that will enhance the market growth during the next decade.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the growing incidences of skin disorders are the prime growth driving factor of Dermatoscopes Market. As per the latest data revealed by the American Cancer Society stated that around 96,480 new melanomas cases will be diagnosed by the end of 2019. Among which 57,220 cases registered are of males whereas 39,260 cases are of females.
The organization also estimated that nearly 7,230 people suffering from melanoma are expected to die, contributing 4,740 men and 2,490 women. These facts also resulted in that melanoma condition is very common in men; on the contrary, women below the age of 50 years are also very prone to these conditions in comparison with men.
MMC Study identifies some of the key participating players in the dermatoscopes market globally are 3Gen, Bio-Therapeutic Inc., Caliber Imaging & Diagnostics, Inc., Canfield Scientific, Inc., Firefly Global, FotoFinder Systems, Inc., HEINE Optotechnik GmbH & Co. KG, ILLUCO Corporation Ltd., Optilia Instruments AB, and Welch Allyn.
About Meridian Market Consultants:
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