A dermatoscope is a handheld medical device used to examine suspicious skin growths such as moles, freckles, or other lesions. It allows dermatologists and doctors to examine skin lesions with 10x magnification, eliminating glare and facilitating visualization of key subsurface structures.
The global Dermatoscope Market is estimated to be valued at US$ 951.1 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the dermatoscope market size is the increasing adoption of dermatoscopes in hospitals and diagnostic centers. Dermatoscopes help in early detection of skin cancer and other skin disorders, enabling timely treatment interventions. The increasing prevalence of skin cancer worldwide is driving the need for regular screening of suspicious lesions. According to the Skin Cancer Foundation, over 5.4 million cases of basal cell and squamous cell skin cancer are diagnosed in over 3.3 million people in the U.S. each year. Dermatoscopes are playing a key role in aiding dermatologists to accurately diagnose skin cancer in early stages, thereby improving treatment outcomes. The growing need for cost-effective and innovative diagnostic solutions in hospitals and diagnostic laboratories will continue to spur revenue generation opportunities for players in the dermatoscope market during the forecast period.
Segment Analysis
The global dermatoscope market can be segmented on the basis of technology, modality, application and end use. Based on technology, polarized microscopy leads the market and accounts for around 50% share due to its widespread adoption for skin examination. Modality-wise, hand-held dermatoscopes dominate with over 65% share owing to their portability and ease of use during dermatology examinations. In terms of application, skin examination represents the largest segment with more than 80% share as dermatoscopes are majorly used for skin imaging and monitoring skin lesions. Hospitals form the major end user and hold close to 60% share due to higher preference of dermatoscope in hospitals for dermatological procedures.
Key Takeaways
The global dermatoscope market is expected to witness high growth during 2023-2030. Increasing prevalence of skin diseases along with growing awareness regarding early diagnosis are driving the market. Moreover, technological advancements in dermatoscopes resulting in improved functionality and features are supporting the industry expansion.
Regional analysis: North America holds the largest share of around 35% in the global dermatoscope market due to growing awareness about skin diseases and rising healthcare expenditure in the region. Asia Pacific is expected to witness the fastest growth during the forecast period owing to increasing disposable income, development in healthcare infrastructure and growing burden of skin diseases.
Key players: Key players operating in the dermatoscope market are Canfield Scientific, Inc., ILLUCO, HEINE Optotechnik GmbH & Co. KG, Tejco Vision, 3Gen, FotoFinder Systems, Caliber Imaging and Diagnosis, Firefly Global, Bio-Therapeutic, AMD Global Telemedicine, Rudolf Riester GmbH, and Barco. Canfield Scientific and HEINE Optotechnik GmbH & Co. KG collectively account for over 40% share of the global market due to their wide dermatoscope product portfolio and global sales network.
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