Global Skin Cancer Dermatology Market is expected to grow at a CAGR of 5.9% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Skin Cancer Dermatology Market by Test Type (Dermatoscopy, Diagnostic Imaging, Lymph Node Biopsy and Skin Biopsy), Facility Type (Stand-alone, Multispecialty Clinics, Hospital OPD and Dermatology Groups), Age Group, Region and Global Forecast 2020-2027.
The global skin cancer dermatology market is expected to grow from USD 1.46 billion in 2019 to USD 2.30 billion by 2027, at a CAGR of 5.9% during the forecast period 2020-2027. North America is the dominant market in terms of market share. The factors such as the rising prevalence of skin cancer, availability of skilled dermatologists and advance health care infrastructure are contributing significantly to the market growth. However, Asia-Pacific is expected to grow at a lucrative rate. The growing patient population due to the growing degrading environmental condition is the major reason for the market growth. Further, the technical advancements in dermatology department are fueling the market demand.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in skin cancer dermatology market are SkinIO, FotoFinder Systems, Inc., Canfield Scientific Inc., MetaOptima, Firefly, 3Gen, Agilent Technologies, Skin Analytics, Speclipse, Inc., SkinVisionand others. The companies are opting for strategic mergers and acquisitions, which will increase their business horizon.
The test type segment includes dermatoscopy, diagnostic imaging, lymph node biopsy and skin biopsy. The skin biopsy segment constitutes the majority of the market share. The wide adaptability of this procedure in a variety of skin conditions like squamous cell carcinoma, basal cell carcinoma, skin tags, skin infections, melanoma, dermatitis and many more is the major reason for the market growth. Further, the diagnostic imaging segment is expected to grow at an impressive rate. The innovation of non-invasive techniques has increased the efficiency of the diagnosis. The facility type segment includes stand-alone, multispecialty clinics, hospital OPD and dermatology groups. The hospital OPD segment holds majority of the market share. A huge number of patients prefer the hospitals for the treatment due to the availability of advance equipments, and this factor is responsible for the growth of the segment. Further, dermatology groups ought to witness a higher market growth rate due to the availability of specialized treatment. The age group includes 0-19, 20-39, 40-59, 60-64, 65-74, 75-84 and 85 & above. Among these, the 40 to 59 segment is the major constituent of the market growth. This age group is more vulnerable to skin cancer. This is because they witness more exposure to the UV rays. Apart from this, the age group 20 to 39 is also becoming vulnerable to the disease. Further, the tanning equipments are more popular among this particular age group.
Skin cancer dermatology is witnessing high demand due to the growing prevalence of the cancer. Skin cancer is becoming more and more common due to the ever-increasing degradation of the environment. The increasing technological advancements in dermatology department have resulted in the market growth. Further, the rising number of compatible diagnostic devices and teledermatology has enabled the dermatologists to attend the remotely located patients.
About the report:
The global skin cancer dermatology market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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