A recent market research report by TMR Research presents a detailed account of the present and potential future growth dynamics of global market for dermatology diagnostic devices and therapeutics. The report is titled “Dermatology Diagnostic Devices and Therapeutics Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.”
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The market has witnessed a steady influx of new products in the recent years as companies plough increased resources into R&D activities to stay ahead of peers amid intensifying competition. The demand for more effective and reliable diagnostic and therapeutic solutions for a variety of dermatological ailments has also been rising at a healthy pace globally in the recent years as the global consumer becomes more aware of the available solutions and benefits of early diagnosis.
The market is expected to expand at a promising pace in the next few years. Factors such as the rising population of geriatrics – a demographic that is more vulnerable to a number of skin conditions, rising pollution levels, and rising usage of cosmetics are expected to work well for the market over the forecast period. Moreover, increased expenditure on healthcare and the easy availability of new and improved varieties of products across emerging economies will also favor the steady growth prospects of the market over the forecast period.
Geographically, the market in North America is likely to lead in terms of revenue opportunity over the forecast period, thanks to the presence of an affluent consumer base, the rising population of geriatrics, and high expenditure on skincare. The market in Asia Pacific is likely to emerge as the most promising regional market owing to the rising disposable incomes and an increased expenditure on skincare.
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The increasingly competitive vendor landscape features companies such as Astellas Pharma, Inc., Agfa-Gevaert N.V., Valeant Pharmaceuticals International, Inc., Dino-Lite Europe/IDCP B.V., Galderma S.A., Novartis International AG, Cutera, Inc., Genentech, Michelson Diagnostics Ltd., and LEO Pharma A/S.