Dermatology is the branch of science, which deals with skin and its appendages such as nails, hairs, sweet glands, and among others. Primary skin care and skin hygiene is the major concern of urbanization. Polluted environment leads to number of skin allergies and trigger various chronic diseases such as skin cancer. According to a study by Clinical Dermatology, in 2013, approximately 25% of the population suffers from skin ailments globally, out of which 15% of the population consult general physician with skin problem, wherein 1.2% refer to the dermatologist while rest are left unattended. It has also been stated that skin conditions are the fourth leading cause of nonfatal disease burden. Dermatology diagnostic devices and therapeutics market is the most dynamic and competitive market and is projected to retain same in the near future.
Rising prevalence of skin ailments and its impact is fueling the market growth
Dermatology diagnostic devices and therapeutic market is expected to increase, due to high prevalence of skin problem such as fungal infections, scabies, acne, psoriasis, and atopic eczema. 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. The trajectory of the market depends on the rise of pollutants in the environment, drug patent expiry, over use of cosmetics, prevalence of chronic diseases, and increasing pool of children affected with skin ailments. Rising awareness about skin ailments and its treatment is a key factor augmenting the dermatology diagnostic device and therapeutic market growth. New and improved dermatology diagnostics products, for instance, in 2016 Sun Pharmaceutical Industries Ltd launched Suncros, a highly efficient product for all skin ailments, contributed largely towards the market growth.
Regional Insight of the dermatology diagnostic devices and therapeutics market
Geographically, 33.2 % population of North America have significant skin ailments that deserve medical attention. 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. In 2017, Food and Drug Administration (FDA) has approved a new product named Dupixent, which is used to treat atopic dermatitis, expected to propel the market growth in this region. According to a report by European Dermato-Epidemiology, in 2014, approximately 19% of the adults and 14% of children have skin diseases that need to be attended in Europe. This is mainly owing to high prevalence and high awareness of skin ailments, well-organized healthcare services, and reimbursement policies.
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Latest launch and improved products is driving the Dermatology diagnostic devices and therapeutics market growth
Innovation of new and improved products in the market is expected to keep the market more competitive to combat with the latest product. For example, new product Dupixent approved by the U.S. FDA in 2017, is an injectable medication for the adult patients with moderate or acute eczema. This is mainly for the patients affected by the disease which cannot be controlled with prescription therapies used on skin (topically). Some of the major players operating in the global dermatology diagnostic devices and therapeutics market include Agfa-Gevaert N.V., Valeant Pharmaceuticals International, Inc., Cutera, Inc., Astellas Pharma, Inc., Galderma S.A., Novartis International AG., Dino-Lite Europe/IDCP B.V., Genentech, LEO Pharma A/S, Michelson Diagnostics Ltd, and Sun Pharmaceutical Industries Ltd.