The Dermatology Market to grow by USD 12.762 billion from 2022 to 2027 | Increasing prevalence of tele dermatology is a major trend - Technavio

NEW YORK, Sept. 3, 2023 /PRNewswire/ -- The global dermatology market size is estimated to grow by USD 12.7612 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 10.82% during the forecast period. The increasing prevalence of teledermatology is an emerging trend in the market. Technological advances allow patients to see dermatologists remotely. Also, patients can now consult a dermatologist from the comfort of their own homes, which saves them time and effort. Due to telemedicine, dermatologists can treat life-threatening diseases such as skin cancer and provide the most appropriate treatment. Furthermore, the growing demand for telemedicine and virtual consultations has made dermatology care accessible to more people. Hence, increasing teledermatology is a trend that is expected to drive market growth during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 39%. For more insights on the historic market data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Dermatology Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Application (Acne, Psoriasis, Dermatitis, Skin cancer, and Alopecia and others), End-user (Skin clinics, Hospitals, and Others), and Geography (North America, Europe, Asia, and Rest of World (ROW)). 

• The Acne segment will be significant during the forecast period. Treatment of acne is the major application for the dermatological equipment market. Acne is a typical skin condition characterized by blackheads and pimples. Furthermore, the incidence of acne in adolescents and adults is rising, and advances in dermatological treatments are increasing the demand for skin care products. Additionally, factors like the introduction of cutting-edge products and technologies that make acne treatment options accessible to patients around the world are the key factors driving the segment development.

Buy the report!

Geography Overview
By geography, the global dermatology market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global dermatology market.

• North America will contribute 39% to the growth of the global market during the forecast period. The growth is attributed to the growing geriatric population and the high prevalence of chronic and infectious skin diseases. Consequently, the demand for dermatology products and services is increasing in the region.  Also, countries like the US are the key contributors to the market in the region due to increased awareness of diagnostic tests related to skin diseases among older people. 

Insights on the market contribution of various segments including country and region wise, historic market data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Dermatology Market – Market Dynamics
Key factor driving market growth
The effective diagnosis of skin disorders drives market growth. Skin disorders are more prevalent in people, which raises the need for effective diagnosis, treatment, and monitoring. Such diseases include melanoma, acne, psoriasis, and eczema. Consequently, skin products and services must be available to make accurate diagnoses, provide targeted treatments, and track skin disease status. Additionally, laser therapy devices offer precise and targeted treatment options for skin disorders. Hence, factors such as an increasing diagnosis of skin disorders are expected to drive market growth during the forecast period.

Major challenges hindering the market growth

The side effects of dermatology and safety concerns challenge the market growth. Side effects make patients hesitant to undergo dermatological treatment and pharmaceutical companies and medical professionals must address and reduce the safety issues. They can do so through strict clinical trials, thorough safety profiling, and effective patient education. Various companies build trust among their consumers which is important to give confidence and enable them to make informed decisions about dermatological treatment. Hence, the increasing safety concerns are expected to impede market growth during the forecast period.

Insights on Market Drivers, Trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Dermatology Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the dermatology market between 2023 and 2027
• Precise estimation of the size of the dermatology market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the dermatology market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of dermatology market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The dermatology devices market size is estimated to grow at a CAGR of 8.42% between 2022 and 2027. The market size is forecast to increase by USD 1,24,693.13 million. This dermatology devices market report extensively covers market segmentation by end-user (hospitals and clinics), product (treatment devices and diagnosis devices), and geography (North America, Europe, APAC, and Rest of World (ROW). One of the key factors driving the dermatology devices market growth is the increasing prevalence of skin disorders.

The Retinol Skincare Product Market size is estimated to grow at a CAGR of 4% between 2022 and 2027. The market size is forecast to increase by USD 144.64 million. This retinol skincare product market report extensively covers market segmentation by distribution channel (offline and online), type (cream, oil, serums, and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). One of the key factors driving the retinol skincare product market growth is the rising R&D activities by market players. 

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio