Dermatology Diagnostic Devices And Therapeutics MarketSize and Trends

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.

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).

Market Trends

Innovation of new and improved products in the market is expected to keep the market more competitive to combat with the latest product.