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Global Dermatology Diagnostic Devices and Therapeutics Market Insights & Industry Trends Studied during 2017 - 2024
MRRSE
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According to the report, the global dermatology diagnostic devices and therapeutics market is showing signs of positive growth. The global dermatology therapeutics market was recorded at US$17.5 bn in 2014. It is expected to show a dual CAGR within the report’s forecast period of 2015 to 2023. This market is progressing at the CAGRs of 1.90% and 1.60% in the periods of 2013 to 2018, and 2018 to 2023 respectively.
On the other hand, the global dermatology diagnostic devices market is exhibiting a CAGR of 6.90% within the report’s overall forecast period of 2015 to 2023. This market was recorded at US$0.6 bn in 2014 and is expected to reach US$1.0 bn by the end of the given forecast period.
The primary driver of the global dermatology diagnostic devices and therapeutics market, as mentioned in the report, is the growing prevalence of skin diseases, both acute and chronic. A larger and more particularly younger demographic of patients are registering themselves with skin ailments ranging from acne to skin cancer. The global dermatology diagnostic devices and therapeutics market is also driven by the growing percentage of the elderly, most of whom are suffering from chronic skin problems and are also highly susceptible to other skin-related complications.
The global dermatology diagnostic devices and therapeutics market is currently being hampered by the financial complications created by the policies within the Affordable Care Act. This market is also affected by the high costs and taxes associated with the production and use of medical devices.
For more information about this report visit: https://www.mrrse.com/dermatology-diagnostic-devices-therapeutics-market
Another major restraint on the global dermatology diagnostic devices and therapeutics market is the inevitable and soon-to-occur patent expiration of multiple major drugs currently in use for skin diseases. The proliferation of generic drugs once these patents expire will create a downfall in the overall revenues accrued in this market.
The global dermatology diagnostic devices market was dominated by the segment of imaging equipment, which held 70.0% of the market in 2014. This segment led the market owing to a high demand and a relatively high price of the devices.
The global dermatology diagnostic therapeutics market was dominated by the antibacterials segment, which held 28.50% of the market in 2014.
The key players in the global dermatology diagnostic devices and therapeutics market include Agfa-Gevaert N.V., Novartis International AG, Genentech, and Valeant Pharmaceuticals International, Inc.
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