Dermatology Market: A Study of the Key Applications and Technologies by Emergen Research
Growth of the pharmaceutical industry, increasing aging population, and rising cases of acne problems are key factors driving dermatology market revenue growth
VANCOUVER, BC, CANADA, January 24, 2023 /EINPresswire.com/ -- The area of medicine that deals with the skin is called Dermatology. It is a specialty having elements of both medicine and surgery. A dermatologist is a type of medical professional who treats conditions of the skin, hair, nails, and some cosmetic issues. The Global Dermatology Market size reached USD 1.11 Billion in 2021 and is expected to register a revenue CAGR of 6.9% during the forecast period, according to latest analysis by Emergen Research. Growth of the pharmaceutical industry, increasing aging population, rising cases of acne problems, rapid technological advancements in laser and light-based skin treatments, and increasing advancements in powerful skin digital imaging as well as growing need for early diagnosis of dermatological conditions are main factors driving market growth of the dermatology market.
Significant technology breakthroughs are driving the dermatology sector to change, affecting consumer preferences for aesthetic operations and treatments. Patients are adopting AI, Machine Learning (ML), and teledermatology, which indicates that dermatology treatment is changing and moving away from in-person clinical consultations and toward accessibility, mobile devices, and computer algorithms. These advancements have enabled accurate and real-time imaging, which helps in early detection of disease. The way dermatologists evaluate patients has undergone a significant change as a result of development of more potent imaging techniques, telecommunication network, and information transfer technologies. They may now perform an examination, provide a diagnosis, and develop a treatment plan using software designed specifically for this business. Modern consumers increasing access to digital photographic technology has improved its usefulness in the dermatological industry and dermatologists have used clinical photography in various ways over the years. Due to apparent nature of skins, certain dermatological clinics have started adopting 3D imaging techniques to image cutaneous issues.
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Leading Companies of the Dermatology Industry and Profiled in the Report are:
Johnson & Johnson Services
LEO Pharma, and Galderma
Even though photo documentation has always been a key component of clinical trials for various dermatologic conditions or objectives, technological improvements have made it even more vital. Additionally, with recent advancements in 3D imaging technology, dermatologists are now better able to gauge crucial dermatologic parameters such as wrinkle depth. However, with advancement of 3D imaging technology, dermatologists are now able to more precisely measure important factors, such as height, thickness, and even changes in lesion volume, enabling a more accurate assessment of effect of treatment on distinct lesions. As a result, these developments have enabled accurate, real-time imaging, allowing for early diagnosis of illnesses. Furthermore, owing to methods such as dermatoscopy and other microscopic techniques including confocal laser scanning microscopy, patients with a range of skin problems can now gain from noninvasive procedures that give them better results with quicker recovery times. Other full-body imaging or mole mapping equipment is also compatible with the technology.
One of the major upcoming trends in the global dermatology market is advancement in laser technology. Nowadays, lasers are useful treatment methods for various skin problems and have a wide range of dermatological uses. Consumers are already observing a significant advancement in laser technology, with products that go beyond aesthetics, to treat cancer and assist in administration of pharmaceuticals. Use of more accurate "robotic surgeons" to perform aesthetic surgeries, treat skin malignancies, and address other skin issues may become more common in the future. Different laser and LED light therapies are emerging as dermatology practices focus more on cosmetic side of treatments for business reasons. For instance, Accure, a U.S. based company developed revolutionary laser-based acne therapy. Accure laser is the first light-based platform to specifically target and harm sebaceous glands, the primary source of sebum production and a key to a long-lasting acne treatment, despite the fact that there are other laser and light choices available. According to a recent clinical data, inflammatory acne lesions were reduced by over 80% three months after four treatments and by 80% to 90% in same individuals after one year. These laser treatment solutions have demonstrated notable effectiveness in treating skin issues with little skin damage.
However, use of excessive laser beams, variability of atopic dermatitis, wound care, use of biosimilars, and presence of chemical permanent tattoos are just a few dermatology challenges that are preventing market revenue growth despite significant investments in this particular research area. Additionally, the government has not yet developed a strategy to sufficiently make up for additional costs or assist in reimbursement of skin treatments and diagnoses, which is a key barrier to the market's revenue growth.
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Some Key Highlights From the Report
The acne industry segment accounted for a moderate revenue share in 2021. These are major factors driving revenue growth of this segment. According to the American Academy of Dermatology Association (AADA), acne affects up to 50 million Americans each year, making it the most prevalent skin condition in the country. Many teenagers and young adults suffer from acne, which often starts during puberty. Between the ages of 12 and 24, 85% of individuals have at least mild acne. In addition, dermatologists can administer acne medications, repair acne scarring, check for skin cancer, and offer general skin care advice. Unflattering acne is a common reason for teens and young adults to schedule dermatology appointments. Dermatologists use a procedure called acne extraction to remove whiteheads and blackheads that fail to clear with acne treatment. A highly serious form of severe acne called acne fulminans is treated by dermatologists using low doses of prednisone, a very strong corticosteroid.
The skin clinics disease segment accounted for a significant revenue share in 2021. Skin clinics guiding principle is to separate patient's clinical journey into its components and limit the consultant for performing only those tasks that a consultant is qualified to perform providing diagnosis and recommending management. Face-to-face consultations with doctors give patients a lot of comfort, but it's important to manage their expectations by sending them a letter in advance outlining details of screening clinic appointment and giving them a choice to decline it, without losing their spot on the waiting list. Many skin problems have symptoms that worsen for longer if they are ignored. It is possible to extend appointments in other dermatology offices to foster a more laid-back workplace, improve patient happiness, and lower danger of burnout among clinicians. Triaging referrals or conducting virtual consultations is a much less efficient use of a consultant's professional time when one new patient may be seen every 60 seconds, therefore these can be drastically reduced, if not completely eliminated.
The Asia Pacific market accounted for largest revenue share in 2021.The dermatology market is growing in this region, particularly in India, Japan, and China, owing to rising incidences of skin problems such as acne and contact dermatitis, availability of larger patient demographic, increased funding and partnerships between major companies in the field of dermatology drugs, as well as presence of any dermatology clinics especially in India, which have resulted in continued growth of this industry.
On March 11, 2022, The EP Group (privately held parent company of EPI Health, Inc.) announced to acquire EPI Health, LLC (EPI Health) by Novan, Inc. EPI Health is a reputable specialist dermatological company that offers dermatologists cutting-edge prescription medications to enhance patients quality of life. It is a market leader in the U.S. dermatology industry. The commercial team at EPI Health is well-established and its sales staff is well-connected to the dermatology community on a broad scale.
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Emergen Research has segmented the global dermatology market based on type, application, end-use and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
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Regional Outlook (Revenue, USD Billion; 2019-2030)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of Middle East & Africa
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