PUBLISHER: The Business Research Company | PRODUCT CODE: 1455218
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455218
A dermatoscope is a portable visual tool utilized by doctors to inspect and identify skin lesions and illnesses, such as melanoma, using visible light, which can be sourced from incandescent or LED bulbs. It is a magnifying glass-such as instrument equipped with a magnifier and a light source, aiding in the examination of the skin, scalp, hair, and nails. Dermatoscopes reveal characteristics of the skin's outer layer that are not visible to the naked eye.
The main types of dermatoscopes are contact dermatoscope, hybrid dermatoscope, and non-contact dermatoscope. A contact dermatoscope is specifically designed for inspecting skin lesions that are in direct contact with the skin. Dermatoscopes utilize various technologies such as LED, xenon, halogen, and ultraviolet, and are available in handheld, trolley-mounted, and headband configurations. These devices find applications in examining skin tumors, scabies, warts, fungal infections, and other dermatological conditions, and are commonly used in hospitals and dermatology clinics.
The dermatoscopes market research report is one of a series of new reports from The Business Research Company that provides dermatoscopes market statistics, including dermatoscopes industry global market size, regional shares, competitors with a dermatoscopes market share, detailed dermatoscopes market segments, market trends and opportunities, and any further data you may need to thrive in the dermatoscopes industry. This dermatoscopes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The dermatoscopes market size has grown rapidly in recent years. It will grow from $1.18 billion in 2023 to $1.35 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth observed in the historical period can be attributed to the increasing demand for enhanced electrical safety, the growth in industrial automation, expanding application areas, the miniaturization of electronic devices, and a focus on power efficiency.
The dermatoscopes market size is expected to see rapid growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The anticipated growth in the forecast period can be attributed to the rise in electric vehicle (EV) adoption, the expansion of 5G networks, the growing Internet of Things (IoT) market, advancements in edge computing, and the demand for radiation-tolerant solutions. Major trends expected in the forecast period include innovations in medical devices, an increased focus on cybersecurity, advancements in semiconductor technologies, a growing demand for high-speed digital isolators, and a rising adoption of magnetic coupling technology.
The growth of the dermatoscope market is anticipated to be driven by the rising incidence of skin cancer. Skin cancer, characterized by abnormal skin cell proliferation often due to ultraviolet radiation, can be visualized and differentiated using a dermatoscope. This device magnifies and illuminates the skin's surface, aiding in the examination of skin lesions. In 2021, the American Cancer Society reported an estimated 6.3% increase in skin cancer cases in the US, rising from 108,420 in 2020 to 115,320. Additionally, around 11,540 deaths from skin cancer were expected in 2021. Consequently, the growing incidence of skin cancer is a significant driver for the dermatoscope market.
The increased occurrence of fungal infections is expected to contribute to the growth of the dermatoscope market. Fungal infections, caused by the invasion of fungi in the body, can be detected early and accurately diagnosed using dermatoscopes. These devices aid dermatological practitioners in prompt treatment and prevention of fungal infections. In 2021, the Centers for Disease Control and Prevention reported a three-fold increase in cases of Candida auris fungal infections, reaching a total of 4,041 from the previous year. The rise in fungal infections is a key factor driving the demand for dermatoscopes.
The high costs associated with dermatoscopes are anticipated to impede market growth. The elevated prices of dermatoscopes limit their widespread adoption, making them less accessible to dermatological practitioners. Dermatoscope prices in the US, as of January 2024, range from $395 to $1,595, depending on the model and features. This high cost poses a challenge to the broader adoption and accessibility of dermatoscopes in the market.
Major companies in the dermatoscope market are focusing on the development of innovative lenses, such as optional conversion lenses. Optional conversion lenses can be attached to a dermatoscope to extend its focal length, allowing for closer examination without physical proximity. For instance, Casio Computer Co. Ltd. launched the DZ-S50 dermoscope in January 2021, featuring an optional conversion lens (DSL-50M) that enhances zoom capabilities from 6x to 9x with a single touch. This innovation provides dermatologists with enhanced imaging capabilities.
In December 2021, Canfield Scientific Inc., a prominent dermatoscope and imaging systems manufacturer, acquired Medici Medical s.r.l. The acquisition is expected to enhance customer-driven innovation and strengthen customer support in the Italian market. Medici Medical s.r.l., an Italian-based company, is recognized for its production of dermatoscopes and other medical equipment. The collaboration aims to deliver high-quality products and excellent customer service to the dermatoscope market.
Major companies operating in the dermatoscopes market report are Hitachi Ltd., Canon Inc., Nikon Corporation, Casio Computer Co. Ltd., Barco NV, Welch Allyn Inc., Nidek Co Ltd., Rudolf Riester GmbH, FotoFinder Systems GmbH, American Diagnostic Corporation, Firefly Global, Optomed Oy, Canfield Scientific Inc., DermLite LLC, Bio-therapeutic Inc., Derma Medical Systems, HEINE Optotechnik GmbH, DermoScan GmbH, Medisave UK Ltd., Dino-Lite Company, AMD Global Telemedicine Inc., KIRCHNER & WILHELM GmbH + Co. KG, MetaOptima Technology Inc., Pixience, Allied Biotech (Aust) Pty Ltd., Caliber Imaging & Diagnostics Inc., Dynamify GmbH, Optilia Medical, Illuco Corporation Ltd.
North America was the largest region in the dermatoscopes market in 2023. The regions covered in the dermatoscopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the dermatoscope market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The dermatoscope market consists of the revenues earned by entities by providing services such as screening, capturing, processing, visualization, and analysis of skin lesions. The market value includes the value of related goods sold by the service provider or included within the service offering. The dermatoscope market also includes sales of oil immersion (non-polarized) and cross-polarized dermatoscopes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Dermatoscopes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dermatoscopes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dermatoscopes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The dermatoscopes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.