Dermatoscope Market - Positive long-term growth outlook 2024

Dermatoscopy is a process through which the examination of skin lesions can be determined using an instrument, i.e., dermatoscope. The instrument is used by dermatologists to distinguish benign tumors and malignant (cancerous) lesions, especially in the diagnosis of melanoma. Modern dermatoscope uses the liquid medium and polarized light in order to cancel out the skin surface reflection. The images or videos are digitally processed using a digital epiluminescence dermatoscope. 3Gen introduced the first polarized dermatoscope known as DermLite, which allows visualization of skin structures using an immersion fluid. The convenient method of detection and different optimization of images as compared to glass dermatoscope added an advantage over vascular pattern diagnosis. However, new developments in dermatoscope allow image at the cellular and vascular level, paving way for earlier diagnosis and treatment of cancer disease.

High prevalence of skin cancer disease, rise in patient awareness about skin cancer, growth in research and development initiatives, reduction of the frequency of unnecessary surgical procedures, and high cost of treatment and diagnostic imaging procedures through MRI and X-ray devices are important driving factors of the dermatoscope market. According to the American Academy of Dermatology 2017, the World Health Organization has estimated that more than 65,000 people worldwide are likely to die of melanoma. In 2017, 9,730 deaths due to melanoma are estimated in the U.S. According to the WHO, 2015, the number of new cases of cancer is expected to rise by about 70% over the next two decades. Growth in technologies such as USB imaging and video technology of imaging melanoma is likely to fuel the growth of the global dermatoscope market. However, introduction of biological agents for melanoma detection and new technologies such as SPECT and PET are expected to hamper the market growth.

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The global dermatoscope market has been segmented based on product, technology, modality, application, and geography. In terms of product, the dermatoscope market is classified into contact dermatoscope, hybrid dermatoscope, and non-contact dermatoscope. Polarized dermatoscope (non-contact dermatoscope) is a rapid growing product segment owing to increase in prevalence of skin cancer diseases globally. In terms of technology, the market is classified into LED, xenon, halogen, and ultraviolet. In terms of modality, the market of dermatoscope is classified into hand-handled, trolley mounted, and headband. According to the Skin Cancer Foundation 2017, more than 419,000 cases of skin cancer are projected to be reported in the U.S. each year, out of which are likely to be 168,000 squamous cell carcinomas, 245,000 basal cell carcinomas, and 6,200 melanomas; these are linked to indoor tanning. In terms of application, the market is classified into skin tumors, scabies, warts, fungal infections, and others. Based on geography, the market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Geographically, North America dominates the global dermatoscope market due to increase in number of melanoma cases among men owing to tanning and ultraviolet rays. Early-phase diagnosis and treatment of the disease is driving the medical biotechnology market, which in turn is expected to drive the North America dermatoscope market. Europe is the second leading market for dermatoscope as there are favorable government policies regarding health care infrastructure and awareness among population against skin cancer. The market in Asia Pacific is expected to grow at a higher rate due to rise in population, changing lifestyle, increase in awareness about skin cancer, and growth in per capita expenditure. In addition, economic growth and rise in medical tourism along with research and cancer laboratories are supporting the health care infrastructure improvement in developing countries such as India, Brazil, and China. Thus, all the above mentioned factors collectively support the growth of the dermatoscope market in Asia Pacific and Latin America.

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The major players operating in the global dermatoscope market include FotoFinder Systems GmbH, Optilia Instruments AB, Dino-Lite, 3Gen, Rudolf Riester GmbH, NIDEK CO., LTD., ILLUCO Corporation Ltd., KIRCHNER & WILHELM GmbH + Co. KG, and Canfield Scientific, Inc.

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