DERMATOSCOPE MARKET ANALYSIS

Market Challenges And Opportunities

An increase in the funding by government organizations

Increase in the initiatives by various government organization for providing funding for cancer research and its screening is expected to increase the demand for dermatoscopes, which is expected to propel the global dermatoscope market growth for the forecast period. For instance, in May 2022, the U.S. Department of Health and Human Services (HHS), an U.S. federal government organization, announced the funding of US$ 5 million to promote the research of life-saving cancer screenings

Global Dermatoscope Market- Driver

Increase in the prevalence of skin cancer

An increase in the prevalence of skin cancer is expected to increase the demand of its early diagnosis, which in turn is expected to drive the global dermatoscope market growth during the forecast period. For instance, according to an article factsheet published by European Commission, a part of European government, in May 2021, it is estimated that skin melanoma accounted for 4% of all new cancer diagnoses in European Union (EU) countries in 2020 and melanoma accounted for 1.3% of all deaths due to cancer in EU.

High cost associated with dermatoscope

The major factors that can hamper the growth of the global dermatoscope market over the forecast period include high cost of dermatoscope. For instance, according to IndiaMART, an online store, the average cost of digital dermatoscope manufactured by Krupa Medi Scan is around US$ 424 – 450. Thus, key market players should focus on manufacturing cost effective dermatoscopes