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Dermatoscope Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI4317

Dermatoscope market size is likely to expand at an appreciable rate during the forecast timeframe of 2023-2032 due to the rising incidence of skin cancer. According to data by the American Academy of Dermatology Association, one in five U.S. citizens will be diagnosed with skin cancer in their lifetime.

Dermatoscopy tests are gaining significant traction among end-users as they can assess amelanotic and pigmented skin injuries by using a dermatoscope to differentiate between malignant and benign tumors. Skin disorders, such as rosacea, psoriasis, and eczema are increasing across the world. As per the Canadian Dermatology Association, 1 million Canadians are affected by psoriasis every year.

Dermatoscopes are being widely used in the diagnosis of various cancers, such as melanoma. More people are becoming aware of the importance of early diagnosis and treatment of cancer, thereby positively impacting dermatoscope industry outlook.

But rising tensions between Russia and Ukraine have created a negative impact on dermatoscope market outlook as healthcare institutions were focusing on offering primary medical care to the injured citizens and military personnel. This situation forced patients suffering from skin disorders and cancers to postpone or cancel their appointments.

Based on product, dermatoscope market is divided into contact, hybrid, and non-contact dermatoscopes. The industry size from the hybrid dermatoscope segment is estimated to record a notable CAGR throughout the analysis timeframe. There is a robust demand for technologies that improve the visualization of pigment and vascular structures. The prevalence of pigment-related disorders is witnessing a notable spike across the globe.

As of 2022, around 1.9 million people in the U.S. were diagnosed with vitiligo. However, many medical researchers believe that this figure could be close to 2.8 million as many patients do not receive a proper diagnosis. Such instances have prompted medical device manufacturing companies to develop cutting-edge products to facilitate a more accurate diagnosis, thereby fueling the deployment of hybrid dermatoscopes.

In terms of method, global dermatoscope industry is bifurcated into handheld, trolley-mounted, and headband. The handheld dermatoscope segment is expected to hold a sizeable market share during the analysis timeframe. The occurrence of skin cancers, such as basal and squamous cell carcinomas is growing at a significant rate. As per a 2021 report by the U.S. Skin Cancer Foundation, around 67% or 3.6 million people in the country are diagnosed with Basal Cell Carcinoma (BCC) every year.

This scenario has supported the demand for convenient and high-quality visualizations of cancerous skin tumors. Besides, dermatologists will utilize this instrument as it offers superior optical images, high-quality resolution, is cost-effective, and can easily connect to smartphones. Such favorable attributes are projected to boost the usage of handheld dermatoscopes, further enhancing the market growth.

North America dermatoscope market revenue is anticipated to grow at a commendable pace during the forecast timeline due to a major surge in the incidence of skin diseases and growing investments to expand the region’s healthcare infrastructure. The number of people suffering from scabies and fungal infections across the U.S. and Canada will speed up the deployment of dermatoscopes.

The U.S. CDC estimated that in 2021, fungal infections were responsible for around 7,199 deaths. This situation has urged governments and cancer research centers to increase their investments in various R&D programs to reduce the mortality rate from the chronic ailment. For example, in May 2022, the U.S. Department of Health and Human Services (HHS) announced funding worth USD 5 million to promote equitable access to advanced cancer screenings. Such investments will bolster dermatoscope industry progress.

Some of the key companies involved in global dermatoscope market include Optilia Instruments AB, Canfield Scientific, Inc., Caliber Imaging & Diagnostics, AMD Global Telemedicine, Inc., Welch Allyn, 3Gen, ILLUCO Corporation Ltd., FotoFinder Systems, Inc., Heine Optotechnik, and Firefly Global, among others. These market participants are focusing on implementing major corporate strategies, such as product launches, mergers & acquisitions, R&D activities, and technological advancements to fortify their market position.

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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