The Dermatoscopes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dermatoscopes Global Market Report 2024, The dermatoscopes market size has grown rapidly in recent years. It will grow from $1.18 billion in 2023 to $1.35 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to increasing demand for enhanced electrical safety, growth in industrial automation, expanding application areas, miniaturization of electronic devices, focus on power efficiency.
The dermatoscopes market size is expected to see rapid growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to rise in electric vehicle (ev) adoption, 5g network expansion, growing internet of things (iot) market, advancements in edge computing, demand for radiation-tolerant solutions. Major trends in the forecast period include medical device innovations, increased focus on cybersecurity, advancements in semiconductor technologies, growing demand for high-speed digital isolators, rising adoption of magnetic coupling technology.
The rising incidence of skin cancer is expected to propel the growth of the dermatoscope market in the coming future. Skin cancer, which refers to the abnormal proliferation of skin cells, occurs when there is damage to skin cells, most often caused by ultraviolet radiation from sunshine. A dermatoscope is used to magnify and illuminate the skin’s surface, help visualize skin lesions, and help differentiate between benign and malignant (cancerous) lesions. For instance, in January 2021, according to the American Cancer Society, a US-based cancer-fighting organization, it is estimated that the number of skin cancer cases diagnosed in the US increased by 6.3% from 108,420 in 2020 to 115,320 in 2021. Further, it is estimated that around 11,540 deaths from skin cancer are expected to occur in 2021. Therefore, the rising incidence of skin cancer is driving the dermatoscope market.
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The dermatoscopes market covered in this report is segmented –
1) By Product: Contact Dermatoscope, Hybrid Dermatoscope, Non-Contact Dermatoscope
2) By Technology: Light-Emitting Diode (LED), Xenon, Halogen, Ultraviolet
3) By Method: Handheld, Trolley Mounted, Headband
4) By Application: Skin Tumors, Scabies, Warts, Fungal Infections, Other Applications
5) By End-User: Hospitals, Dermatology Clinics
Major companies operating in the dermatoscope market are focusing on developing innovative lenses, such as optional conversion lenses, on providing reliable services to customers. An optional conversion lens is a lens that can be attached to a scope to extend its focal length, and it allows it to get closer to the subject without having to move closer physically. For instance, in January 2021, Casio Computer Co. Ltd. announced the launch of the DZ-S50 dermoscope. It is uniquely designed to switch between polarised and non-polarized with only a single touch and weighs only about 125g, making it easily portable. The DSL-50M optional conversion lens, which quickly attaches and detaches with built-in magnets, can also enhance the lens’s zoom from the standard 6x to 9x. With only a single shutter button press, the devices enable images to be taken at the same viewing angle.
The dermatoscopes market report table of contents includes:
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