Improved Healthcare Services to Boost the Market Demand for Dermatology Diagnostic Devices and Therapeutics

The global dermatology diagnostic devices and therapeutics market is prognosticated to witness a tremendous growth in coming years. Several key players are likely to work on expanding their distribution networks and geographical outreach to come up with more innovative solutions in coming times and also to remain competitive in the market. As per the report by Transparency Market Research (TMR) the global demand for dermatology diagnostic devices and therapeutics is anticipated to lead its market value to be around US$ 21.0 bn by the end of 2024. This value was evaluated to be worth US$ 18.5 bn in the year 2015. Moreover, the global dermatology diagnostic devices market is expected to showcase a healthy growth with a strong CAGR of 7.1% within the forecast period from 2016 and 2024. This market was evaluated to be worth US$ 595.6 mn in the past, which is likely to reach around US$ 1,095.1 mn in coming years. By far, the dermatology therapeutics market is foreseen to be a dominant one among both the components with the evaluated worth of US$ 20 bn by the end of forecast period.

How air pollution is being the major reason for the rise in demand for dermatology diagnostic devices and therapeutics?

The rising problems in terms of air pollution in developed economies is one of the key drivers for the global dermatology diagnostic devices and therapeutics market. The high prevalence of air contamination has prompted an unfaltering increment in the emergence of dermatological conditions and is probably going to be assumed a key part in the rising demand for the dermatology diagnostic devices and therapeutics market in the coming time because of the quick pace of urbanization and industrialization over the world. Apart this, the rise in the number of geriatric population is likewise prone to help development of the global dermatology diagnostic devices and therapeutics market in the coming times as well. Not just that, but anti-ageing products also include as a vital element of the cosmetic industry worldwide and are probably going to contribute altogether to the dermatology diagnostic devices and therapeutics market in the coming years.

The high predominance of skin issue and conditions has brought alerts up in the field of dermatology, clearing route for an extensive variety of dermatology diagnostic devices and therapeutics. Skin conditions, for example, rosacea, cell carcinoma, skin inflammatory disease - eczema, skin break out, pruritus, dermatitis, and psoriasis among others have made a smooth pathway for the development of dermatology diagnostic devices and therapeutics. The global market is likewise prone to be driven by rising interests in the innovative work of novel dermatology therapeutics as well.

What are the dominating segments in dermatology diagnostic devices and therapeutics market supporting the overall growth?

On the basis of drug class the global dermatology diagnostic devices and therapeutics market is segmented into retinoids, antibacterial agents, antifungal agents, corticosteroids, biologics, immunosuppressants, and antiviral agents. If reports are followed then the antibacterial drugs segment is anticipated to lead the market in coming years with a growing CAGR of 3.3% within the forecast period. The imaging division is further divided into ultrasound, optical coherence tomography (OCT), X-ray, magnetic resonance imaging (MRI), and others.


What factors make North America region to lead the race among other regions?

As per the geographical regions, North America is anticipated to lead the global market as it held a major section of share of 43.8% in the global market in the year 2014. The simple availability to healthcare services, and high awareness about skin diseases, reasonable healthcare facilities are anticipated to drive the local market. The North America dermatology diagnostic devices and therapeutics market is likewise observe a breathtaking ascent as the region has a solid nearness of pharmaceutical organizations and incredible repayment approaches. Asia Pacific and Europe, then again, are relied upon to witness a spurt of development also in coming years. The expanding use on medicinal services in the developing economies is relied upon to be critical to the market development in this region.

Dino-Lite Europe/IDCP B.V., Agfa-Gevaert N.V., Genentech, LEO Pharma A/S, Michelson Diagnostics Ltd., Novartis International AG, Astellas Pharma, Inc., Cutera, Inc., Galderma S.A., Valeant Pharmaceuticals International, Inc. are some of the leading firms in the global dermatology diagnostic devices and therapeutics market. 

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