Dermatology Diagnostic Devices and Therapeutics Market Bolstered Growth by 2025 - Valeant Pharmaceuticals International
The global dermatology diagnostic devices and therapeutics market is driven by rising number of patients suffering from skin allergies, fungal infections, and skin cancer owing to pollution and changes in the environment. In 2013, a study conducted on clinical dermatology found that 25% population was suffering from skin diseases. Among them, 15% consulted general physician which shows growing awareness among these patients for treatment of skin disease. This has boosted the demand for advanced treatments and drugs. As a part of this, key players have made investments in research and development (R&Ds) of advanced drugs.
For instance, recently, in March 2017, The US Food and Drug Administration (FDA) approved Dupixent (dupilumab) injection to treat moderate-to-severe eczema found in adults. Earlier, there were very few options to treat this disease. This is a product of one of the player operating in the market – Sanofi and Regeneron Pharmaceuticals, Inc. Sanofi Genzyme, which is the business unit of Sanofi and Regeneron, will hold the market for the drug in the US. Dupixent is the first biologic medicine approved by FDA for treatment of atopic dermatitis (AD) – eczema. This drug will be applicable when the disease cannot be controlled with topical prescription therapies or in the conditions where therapies are not advisable.
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Dupixent is monoclonal antibody mainly designed for signaling two overactive proteins – IL-4 and IL-13 – which are majorly responsible for inflammation in an AD. It comes in the form of a pre-filled syringe which can be administrated by patients after the initial dose, it can be injected for every alternate week. Use of topical corticosteroids is not mandatory for injecting Dupixent. However, the drug is not suitable for patients who have dupilumab allergies or other ingredients present in the drug.
Currently, this drug is available in the US market. The launch of the drug is beneficial for the market to gather revenue substantially.
Global Dermatology Diagnostic Devices and Therapeutics Market: Overview
The global dermatology diagnostic devices and therapeutics market is gaining momentum due to the high prevalence of skin diseases and disorders. The trajectory of the global market will be decided by increasing pool of geriatrics, patent expirations in the offing, and the prevalence of chronic ailments. The research report points out that supportive governmental initiatives and increasing activities to raise awareness about dangerous skin disorders are expected to work in favor of the global market.
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Global Dermatology Diagnostic Devices and Therapeutics Market: Drivers and Trends
The growing number of geriatrics is the key growth driver for the global dermatology diagnostic devices and therapeutics market. Aging skin is more prone to various types of skin cancer, invasive melanoma, and other diseases and disorders. Thus, increasing number of aged people have augmented the demand for dermatology diagnostic devices and therapeutics for diagnosing and treating the various conditions.
Rising pollution, changing lifestyles, and increasing usage of cosmetics has also resulted in high prevalence of acne and psoriasis, which in turn has had a positive influence on the global market. Furthermore, the increasing expenditure on healthcare and the introduction of new and improved dermatology diagnostics and devices and therapeutics have led to the growth of the overall market.
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Global Dermatology Diagnostic Devices and Therapeutics Market: Market Potential
Several players are trying to incorporate technology used for developing diagnostic devices into smartphones and tablets to improve the rate of diagnostics. For instance, Agfa HealthCare launched its web-enabled mobile image management technology known as ICIS, which it plans to integrate into iPhones, iPads, and other mobile digital devices. Offering healthcare through smartphones is an important step in the way of medical devices are poised to evolve for the future. This is expected to provide the patient, caregivers, and physicians a chance to capture images at any point and from any location and publishing them on safely guarded EHRs.
Such initiatives are aimed towards improving diagnostics, patient engagement, and making healthcare even more reachable. Players in the global dermatology diagnostic devices and therapeutics market are expected to focus on making healthcare easy and accessible to win bigger user bases in the near future.
Global Dermatology Diagnostic Devices and Therapeutics Market: Regional Outlook
In terms of geography, the global dermatology diagnostic devices and therapeutics market is segmented into the Middle East and North Africa, Latin America, Asia Pacific, Europe, North America, and Rest of the World. Of these, North America is expected to dominate the global market due to a higher level of awareness about skin disorders and diseases in the region. The dominance of this region will be boosted by the excellent access to healthcare and supportive reimbursement policies. The well-organized healthcare sector is also projected favor the regional market’s growth in the near future.
Europe is expected to follow North America’s lead in the coming years, while Asia Pacific will be seen as an important emerging market. The huge pool of geriatrics in Asia Pacific and the ever-increasing unmet medical needs in the developing countries of the region will also make a significant contribution to the soaring revenue of the overall market.
Key Players Mentioned in the Report are:
Some of the key players operating in the global dermatology diagnostics devices and therapeutics market are Valeant Pharmaceuticals International, Inc., Agfa-Gevaert N.V., Astellas Pharma, Inc., Cutera, Inc., Novartis International AG, Galderma S.A., Dino-Lite Europe/IDCP B.V., Genentech, LEO Pharma A/S, Michelson Diagnostics Ltd., and others.
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