The Global Skin Imaging Systems Market is projected to register with a CAGR of 7.0 %, in terms of revenue, during the forecast period, 2017–2029.
The global skin imaging systems market is projected to reach USD 2,542.2 million by 2024, from USD 1,813.8 million in 2019, with a CAGR of 7.0%. The market encompasses products that are used Skin imaging through sub microscopic scanning of the skin layers. The market is driven by rising the prevalence of skin diseases and infections along with increasing concerns regarding skin health among people, technological advancements and new product developments. For instance, recently, there has been a substantial surge in cases of psoriasis, acne, pigmentation, vascular lesion, and eczema. For example, according to the American Academy of Dermatology (AAD), every 1 in 3 Americans seek dermatological care and one in four individuals are affected by skin disease. Thus, the demand for quick diagnosis and treatment of skin disorders is high which boosts the utilization of skin diagnosis systems. Further, the prevalence of skin cancer has been a major factor fuelling market growth. For instance, the World Health Organization says that 1 in every 3 cases of cancer is of the skin, and one-fifth of the people in the U.S. would be diagnosed with the condition in their lifetime.
By Application, Skin Cancer segment dominated the global market
The Skin cancer segment held the largest market share in terms of revenue during the forecast period. This is owing to the highest usage of these imaging systems across all the end-users for the detection of skin cancer. Further, the high prevalence of skin cancer across the globe further generates huge demand. For instance, according to the World Health Organization, it is estimated that there are presently, 132,000 cases of melanoma skin cancers and 2-3 million non-melanoma skin cancers reported across the globe. Thus, for the early diagnosis of skin cancer, highly-efficient skin imaging systems play a major role and thus witness a boost in the global market.
By End User, telemedicine centers segment is anticipated to register the highest CAGR
Within the market segmented based on the end-user, the telemedicine centers segment is expected to show the highest CAGR over the forecast period. The exponential growth of the segment can be attributed to the growing number of telemedicine centers across countries. These medical facilities have gained immense popularity owing to their benefits and thus find establishments across many developed, developing, and emerging regions, including North America, Europe, Asia-Pacific, and Latin America. Further, Telemedicine centres offers are an effective way to treat a patient in economic and effective manner as patients receive treatment at home when diagnosed with a skin disease. The segment has also garnered a massive boost owing to the COVID-19 pandemic where lockdown situations boosted the usage of these facilities.
North American regional market dominates the global skin imaging market
The North American regional market dominates the global skin imaging market owing to presence of well-developed, advanced and well-functioned healthcare infrastructure. The presence of a plethora of hospitals and specialty clinics for patient care operating in the region is a major driver of the North American skin image systems market. Moreover, increasing prevalence of skin diseases across North America can be held as one of the prime factors for the North American skin image systems market growth. Further, technological developments as well as investments from government entities and private sectors boost the market. For instance, Longport Inc. had launched a high-resolution ultrasound imaging system called EPISCAN, which can produce approximately 40-micron images for detection of ulcers and melanoma
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