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| Global Dermatoscope Market |
The global Dermatoscope Market is estimated to be valued at US$ 951.1 Mn in 2023 and is expected to
exhibit a CAGR of 12% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Dermatoscopy, also known as dermoscopy, is a non-invasive diagnostic technique
that allows in vivo examination of skin lesions with a dermatoscope. A
dermatoscope is a handheld microscope that uses magnification, lighting and
sometimes fluid medium to allow visual examination of suspicious skin lesions.
It helps in early detection of skin cancers and diagnosis of various skin
disorders. Dermatoscopes are being increasingly adopted by dermatologists and
general physicians for diagnostic and monitoring purposes. Significant
advantages of dermatoscopy over naked eye examination include facilitating
visualization of subsurface skin structures and features not visible to the
naked eye. This allows for early and accurate diagnosis of skin conditions.
Market key trends:
One of the major trends spurring growth of the dermatoscope market is the
increasing adoption of teledermatology. Teledermatology involves using
telehealth technologies to provide dermatology consultations and diagnosis to
patients in remote locations. This method allows capturing of images of skin
lesions using dermatoscopes and transmitting them securely to dermatologists
for diagnosis and monitoring. The Covid-19 pandemic has accelerated adoption of
teledermatology globally as it allows provision of dermatology services while
maintaining social distancing. Increasing investment is being made by
healthcare providers and governments to integrate teledermatology into
healthcare systems. This is expected to drive greater utilization of
dermatoscopy tools like handheld dermatoscopes in teledermatology practices
over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established brand image of
existing players make entry difficult for new players in the Dermatoscope
market.
Bargaining power of buyers: Buyers have high bargaining power due to
availability of substitutes and importance of price factor over brand loyalty.
Bargaining power of suppliers: Established suppliers have moderate bargaining
power due to differentiated products and technologies.
Threat of new substitutes: Low threat of substitutes as dermatoscopes provide
unique non-invasive diagnostic functionality.
Competitive rivalry: Intense competition among existing players due to
technology innovations.
Key Takeaways
The Global
Dermatoscope Market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period,
due to increasing prevalence of skin diseases. The market size for 2023 is US$ 951.1 Mn.
Regional analysis: North America dominated the global market in 2022 due to
advanced healthcare infrastructure and increasing awareness about skin
disorders in the region. Asia Pacific is expected to be the fastest growing
market during the forecast period owing to rising healthcare spending and
improving access to diagnosis in major countries.
Key players analysis: Key players operating in the Dermatoscope market are
Canfield Scientific, Inc., ILLUCO, HEINE Optotechnik GmbH & Co. KG, Tejco
Vision, 3Gen, FotoFinder Systems, Caliber Imaging and Diagnosis, Firefly
Global, Bio-Therapeutic, AMD Global Telemedicine, Rudolf Riester GmbH, and
Barco. These players are focusing on new product launches and mergers &
acquisitions to strengthen their market position.
Read More: https://www.trendingwebwire.com/dermatoscope-market-is-estimated-to-witness-high-growth/