Dermatology is a division of medical science that deals with the study and treatment of numerous diseases and disorders related to the hair, skin, and nails. Acute and chronic skin diseases such as rosacea, acne, squamous cell carcinoma, psoriasis, pruritus, and eczema are some of the prime health concerns across the world and account for a major portion of the financial burden associated with healthcare. These affect between 30% and 70% of the global population and can occur at all ages. Key factors such as the increasing prevalence of chronic skin disorders and the increasing geriatric population are expected to drive the global dermatology diagnostic devices and therapeutics market in the years to come.

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The global dermatology diagnostic devices market is expected to progress from US$0.6 bn in 2014 to US$1.0 bn by 2023, expanding at a 6.90% CAGR during the period between 2015 and 2023. The global dermatology therapeutics market is predicted to progress from US$17.5 bn in 2014 to US$20.1 bn by 2023, expanding at a 1.90% CAGR from 2013 to 2018 and 1.60% CAGR from 2018 to 2023.

Imaging Equipment Segment to Rise at 7.0% CAGR from 2015 to 2023

The global dermatology diagnostic devices and therapeutics market is segmented on the basis of geography, dermatology diagnostic device or product, and drug class used for treating dermatology disorders. By product, the global dermatology diagnostic devices and therapeutics market is classified into microscopes and trichoscopes, dermatoscopes, and imaging equipment. In 2014, in terms of revenue, imaging equipment dominated the global dermatology diagnostic devices and therapeutics market and the segment is predicted to expand at a 7.0% CAGR from 2015 to 2023.

Factors such as the implementation of the Affordable Care Act and forthcoming patent expirations of major drugs are predicted to hamper the growth of the global dermatology diagnostic devices and therapeutics market in the years to come. By drug class, the global dermatology diagnostic devices and therapeutics market is classified into antibacterial agents, antiviral agents, retinoid, antifungal agents, corticosteroids, immunosuppressant, and biologics. At present, the global dermatology diagnostic devices and therapeutics market is led by the antibacterial and biologics segments collectively.

North America to Register Maximum Demand for Dermatology Diagnostic Devices and Therapeutics

Based on geography, the global dermatology diagnostic devices and therapeutics market is divided into Latin America, Europe, Asia Pacific, North America, the Middle East and Africa, and Rest of the World. Currently, North America dominates the global dermatology diagnostic devices and therapeutics market. However, Asia Pacific is predicted to be the fastest growing regional segment of the global dermatology diagnostic devices and therapeutics market in the years to come. The Asia Pacific dermatology diagnostic devices and therapeutics market is driven by factors such as the rising disposable income of consumers in this region, high demand for effective medication, and the increasing pool of people suffering from various skin disorders.

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Agfa-Gevaert N.V., Cutera, Inc., Galderma S.A., GlaxoSmithKline plc (Stiefel Laboratories, Inc.), Michelson Diagnostics Ltd., Valeant Pharmaceuticals International, Inc., Astellas Pharma, Inc., Dino-Lite Europe/IDCP B.V., Genentech, a Roche Company, LEO Pharma A/S, and Novartis International AG are some of the leading companies in the global dermatology diagnostic devices and therapeutics market.

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