The number of people opting for dermatology studies and practice are increasing steadily owing to the surge in people who are concerned about their looks. Additionally, from a medical standpoint, the number of people suffering from skin-related diseases is increasing, along with a growing number of patients afflicted by skin cancers, rashes, and other disorders
Albany, NY -- (SBWIRE) -- 08/29/2016 -- Chronic and acute skin diseases such as acne, rosacea, psoriasis, squamous cell carcinoma, eczema, dermatitis, and pruritus are the major health concerns worldwide and account for a large portion of health care associated financial burden. These permeate all cultures, occur at all ages, and affect between 30% and 70% of individuals globally, with even higher rates in at-risk subpopulations. Key elements such as rising prevalence of acute and chronic skin disorders and changing patient pool demographics along with increasing geriatric population are driving the growth of the global dermatology diagnostic devices and therapeutics market. However, certain factors such as implementation of the Affordable Care Act and upcoming patent expirations of the major drugs during the forecast period are expected to impede the market growth.
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Based on dermatology diagnostic products the market has been categorized into dermatoscopes, microscopes & trichoscopes, and imaging equipment. In terms of revenue, imaging equipment segment that included devices such as ultrasound imaging devices, automated dermatology diagnostic devices, and digital pathology systems dominated the market in 2014 and is expected to grow at the fastest CAGR of over 7% during the forecast period due to high price (usually ranges between US$ 2000 and US$ 5000) and precise results. Moreover, other companies participating in this segment are trying to innovate and introduce advanced skin analyzers that can measure the quality of the skin and provide useful remedies. For instance, Japan-based global technology company, Sony Corporation has developed a portable hand-held skin-measuring device called BeautyExplorer that can analyze under the skin for any unwanted blemishes, pores, brightness or pigmentation in the skin. The company will release the device in March, 2016 and is aimed at professional customers like beauty salons and cosmetic manufacturers.
The dermatology therapeutics market has been categorized by various drug class use for treating skin disorders. In terms of drugs, the dermatology therapeutics market is segmented into antibacterials, antifungal agents, antiviral agents, corticosteroids, retinoids, immunosuppresants, and biologics. Antibacterials and biologics are the largest drug segments in this category. Better patient compliance, commendable effectiveness, and low severe side effects are few of the major factors that are boosting the growth of the segments. However, upcoming patent cliff of major blockbuster biologics such as Humira (marketed by AbbVie, Inc. and expiring in December 2016); Remicade (marketed by Janssen Biotech, Inc. and expiring in December 2018), and Stelara (marketed by Janssen Biotech, Inc. and expiring in September 2023) are one of the major factor that might reduce the market growth of biologics in the near future. Additionally, the pipeline analysis segment includes the sales forecast of potential phase III molecules such as Dupilumab, Ixekizumab, and LAS41008 along with projected growth rates.
Geographically, North America accounted for the largest share of both the global dermatology diagnostic devices as well as global dermatology therapeutics market in 2014. Elements attributed to the dominant position of North America in dermatology diagnostic devices and therapeutics market are rising incidence of skin disorders such as skin melanoma, psoriasis, and bacterial infections among population, and increased access to health care. Also, North America is expected to be the fastest growth region for the dermatology diagnostic devices market during the forecast period. However, Asia Pacific is projected to witness the fastest and highest growth during the forecast period for dermatology therapeutics market. Key elements such as rising disposable income among population in various emerging countries, phenomenally increasing base of patient population suffering from skin disorders, and higher demand for safe and effective medication would heighten the growth of dermatology therapeutics market in Asia Pacific.
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The global dermatology diagnostic devices and therapeutics market is highly dynamic and competitive. The major companies currently operating in the dermatology diagnostic devices and therapeutics market are Agfa-Gevaert N.V., Astellas Pharma, Inc., Cutera, Inc., Dino-Lite Europe/IDCP B.V., Galderma S.A., Genentech, a Roche Company, GlaxoSmithKline plc (Stiefel Laboratories, Inc.), LEO Pharma A/S, Michelson Diagnostics Ltd., Novartis International AG, and Valeant Pharmaceuticals International, Inc. Superior distribution channels, easy commercial availability of products, and ample supply competencies are the other key factors that play an important role in determining the market position of these players.
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