Press release
Emerging Trends to Drive Dermatoscopes Market Growth at 12.2% CAGR Through 2029
Dermatoscopes
Dermatoscopes Market Size Growth Forecast: What to Expect by 2025?
The dermatoscopes market has seen significant expansion in the last few years. The market value is expected to rise from $1.35 billion in 2024 to $1.55 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 14.3%. The historic expansion of this market is due to factors such as increased demand for improved electrical safety, advancements in industrial automation, widening application reach, reduction in the size of electronic devices and an emphasis on power efficiency.
How Will the Dermatoscopes Market Size Evolve and Grow by 2029?
In the forthcoming years, a swift expansion is anticipated in the dermatoscopes market size, escalating to $2.45 billion by 2029 with a compound annual growth rate (CAGR) of 12.2%. The increased acceptance of electric vehicle (ev), expansion of 5g networks, burgeoning internet of things (iot) market, advancements in edge computing, and growing demand for radiation-tolerant solutions can all be credited for the projected growth in this period. The forecast period also marks significant trends such as innovations in medical devices, enhancing focus on cybersecurity, progress in semiconductor technologies, escalating demand for high-speed digital isolators, and an upward trend in adopting magnetic coupling technology.
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What Drivers Are Propelling the Growth of Dermatoscopes Market Forward?
The escalating rates of skin cancer are predicted to stimulate the development of the dermatoscope market in the foreseeable future. The skin cancer refers to the unusual expansion of skin cells occurring due to damage to skin cells, primarily induced by the ultraviolet radiation from the sun. Dermatoscopes, which illuminate and magnify the skin surface, aid in visualizing skin anomalies and distinguishing between benign and malignant skin lesions. SunSmart, an Australian non-profit dedicated to skin cancer prevention and sun safety education, reported in 2022 that 2,885 individuals in Victoria got diagnosed with melanoma out of which 262 succumbed to it. Roughly 200 melanoma cases and 34,000 other skin cancer cases in Australia are estimated to happen due to work-related exposures annually. Hence, the progressing occurrence of skin cancer is fueling the demand in the dermatoscope market. Anticipating an increasing occurrence of fungal infections could hasten the expansion of the dermatoscope market in future. Dermatological conditions caused by fungal growth and invasion in the body can be effectively diagnosed and treated promptly with the help of dermatoscopes. For instance, the US-based government agency, National Center for Biotechnology Information, published in December 2022 that approximately 4.1% or 57,251,328 of India's population of 1,393,400,000 people were expected to battle serious fungal conditions. The rising frequency of fungal infections, therefore, propels the growth of the dermatoscope market.
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Which Emerging Trends Are Transforming the Dermatoscopes Market in 2025?
Prominent businesses in the dermatoscope market are concentrating on formulating innovative lenses, including optional conversion lenses, to deliver dependable services to their clients. An optional conversion lens functions by attaching to a scope, extending its focal length, and enabling it to get nearer to the subject without having to physically move closer. For example, in June 2023, DeepX, a company based in South Korea that specializes in sophisticated teledermatology solutions, created the DermoSight. As of now, DermoSight is approved for capturing images of skin lesions for teledermatology evaluations, similar to other digital dermatoscopes. It is also engineered to be compatible with an AI algorithm utilizing proprietary Optical Transfer Diagnosis (OTD) technology, though the FDA has not yet sanctioned this technology for commercial utilization with DermoSight. The OTD technology, which analyzes below-the-skin lesions by studying their light-transmitting features, aspires to transform dermatoscopic assessments into a robust, non-invasive, and user-friendly AI instrument, that could expedite and enhance skin cancer diagnoses.
What Are the Key Segments in the Dermatoscopes Market?
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
Subsegments:
1) By Contact Dermatoscope: Handheld Contact Dermatoscope, Tabletop Contact Dermatoscope
2) By Hybrid Dermatoscope: Digital Hybrid Dermatoscope, Analog Hybrid Dermatoscope
3) By Non-Contact Dermatoscope: Handheld Non-Contact Dermatoscope, Stationary Non-Contact Dermatoscope
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Who Are the Key Players Shaping the Dermatoscopes Market's Competitive Landscape?
Major companies operating in the dermatoscopes market report are Hitachi Ltd., Canon Inc., Nikon Corporation, Casio Computer Co. Ltd., Barco NV, Welch Allyn Inc., Nidek Co Ltd., Rudolf Riester GmbH, FotoFinder Systems GmbH, American Diagnostic Corporation, Firefly Global, Optomed Oy, Canfield Scientific Inc., DermLite LLC, Bio-therapeutic Inc., Derma Medical Systems, HEINE Optotechnik GmbH, DermoScan GmbH, Medisave UK Ltd., Dino-Lite Company, AMD Global Telemedicine Inc., KIRCHNER & WILHELM GmbH + Co. KG, MetaOptima Technology Inc., Pixience, Allied Biotech (Aust) Pty Ltd., Caliber Imaging & Diagnostics Inc., Dynamify GmbH, Optilia Medical, Illuco Corporation Ltd.
What Geographic Markets Are Powering Growth in the Dermatoscopes Market?
North America was the largest region in the dermatoscopes market in 2024. The regions covered in the dermatoscopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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