Seattle, WA -- (SBWIRE) -- 11/11/2019 -- NEWS RELEASE CMI -- Dermatology Diagnostic Devices and Therapeutics Market Insights
Dermatology is the science of skin and its appendages such as nails, hairs, and sweat glands. The focus on skin care and skin hygiene has increased in the recent past, owing to factors such as growing aesthetic appeal among the populace and increasing pollution that may cause skin allergies and lead to chronic diseases such as skin cancer. For instance, according to a study by Clinical Dermatology, in 2013, around 25% of the global population suffers from skin ailments, of which 15% consult general physicians, wherein 1.2% refer to the dermatologist while rest are left unattended. Moreover, skin conditions are the fourth leading cause of nonfatal disease burden.
Dermatology Diagnostic Devices and Therapeutics Market Drivers
Increasing incidence of skin diseases such as fungal infections, scabies, acne, psoriasis, and atopic eczema is expected to boost growth of the dermatology diagnostic devices and therapeutic market over the forecast period. For instance, according to a study by Global Burden of Disease (GBD), in 2010, fungal skin disease, subcutaneous disease, and acne are ranked among the top ten most prevalent diseases worldwide. Moreover, factors such as increasing pollution, over use of cosmetics, high prevalence of chronic diseases and skin ailments in children, increasing drug patent expiry, and increasing awareness about skin ailments and their treatment also contribute to growth of the global dermatology diagnostic device and therapeutic market. Increasing R&D in dermatology diagnostics products is also expected to boost the market growth. For instance, in 2016, Sun Pharmaceutical Industries Ltd. launched Suncros, an efficient product for all skin ailments.
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Dermatology Diagnostic Devices and Therapeutics Market Regional Analysis
On the basis of region, the global dermatology diagnostic devices and therapeutics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to witness significant growth in the market, owing to high prevalence of skin diseases in the region. For instance, 33.2% population of North America suffers from skin ailments. According to the Journal of the American Academy of Dermatology, around 50 million people were affected with acne in North America in 2010, out of which 85% aged between 12 and 24, accounting to higher ratio in young population. The market is also driven by increasing approval for novel products. For instance, in 2017, the U.S. Food and Drug Administration (FDA) approved Dupixent, an injectable medication for the adult patients with moderate or acute eczema and atopic dermatitis.
The market in Europe is driven by increasing prevalence of skin diseases in the region. For instance, according to a report by European Dermato-Epidemiology, in 2014, approximately 19% of the adults and 14% of children have skin diseases in Europe.
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Dermatology Diagnostic Devices and Therapeutics Market Competitive Landscape
Key players operating in the global dermatology diagnostic devices and therapeutics market include, Cutera, Inc., Astellas Pharma, Inc., Galderma S.A., Genentech, LEO Pharma A/S, Michelson Diagnostics Ltd., Sun Pharmaceutical Industries Ltd., Agfa-Gevaert N.V., Valeant Pharmaceuticals International, Inc., Novartis International AG., and Dino-Lite Europe/IDCP B.V.
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