U.S. & Canada Skin Cancer Dermatology Market: Diagnostic Imaging Is Anticipated To Witness Rapid Growth

 U.S. & Canada Skin Cancer Dermatology Industry Overview

The U.S. & Canada skin cancer dermatology market size is expected to reach USD 3,395.97 million By 2030, registering a CAGR of 5.5%, according to a new report by Grand View Research, Inc. Technological advancements and increasing prevalence of skin cancer are anticipated to fuel the growth.

The growing usage of smartphones and the development of smartphone compatible dermatoscopes are the factors anticipated to fuel the market growth. According to the Canadian Radio-television and Telecommunications Commission data, the percentage of Canadians using a smartphone increased from 73% in 2015 to 78% in 2017, thus indicating high potential for teledermatology in the country.

In addition, ongoing research activities for advancements in the dermatology field are anticipated to drive the growth of the market in U.S and Canada. For instance, according to the study published by Nature Journal, Deep Convolutional Neural Networks (CNN) classified the various skin cancers with a competence level comparable to a dermatologist, thus highlighting the potential of Artificial Intelligence (AI) in the field of dermatology.

Inappropriate use of ABCD criteria by Medical necessity auditors is one of the major concerns of dermatologists. For instance, some of the melanoma positive biopsies have been ruled as ‘medically unnecessary’ due to lack of medical documentation of ABCD or signs and symptoms. The ABCD tool was primarily designed for public education and not an important aspect of the physician’s note.

U.S. & Canada Skin Cancer Dermatology Market Segmentation

Grand View Research has segmented the  U.S. & Canada Skin Cancer Dermatology Market the basis of test type, facility type, and age group:

Based on the Test Type, the market is segmented into Skin Biopsy, Dermatoscopy, Diagnostic Imaging, and Lymph Node Biopsy.

  • Skin biopsy is a procedure where a small amount of tissue is removed from the targeted area for examination under a microscope. This can be attributed to the adoption of this procedure for the diagnosis of a wide range of skin conditions, such as melanoma, skin infection, skin tags, dermatitis, basal cell carcinoma, and squamous cell carcinoma. 
  • The diagnostic imaging segment is anticipated to grow at the fastest CAGR over the forecast period due to the introduction of advanced non-invasive techniques, such as laser scanning confocal microscopy, optical coherence tomography, high-frequency ultrasound, terahertz pulsed imaging, magnetic resonance imaging, and photoacoustic microscopy, which have increased the accuracy of diagnosis. 

 

Based on the Facility Type, the market is segmented into Stand Alone Practices, Multispecialty Clinics, Dermatology Group, Hospital OPD, Others.

  • The hospital OPD facility type segment held the largest market share of 40.2% in 2021 and is also expected to witness the fastest growth rate from 2022 to 2030. The purchase of devices in large numbers accompanied by the high demand for healthcare services and procedures in this setting is considered to play a vital role in the growth of the hospital OPD segment over the coming years.
  • The multispecialty clinics and dermatology group segments held relatively higher market shares than the stand-alone practices segment in 2021. This can be attributed to the increased costs and complexities of solo practices along with relatively higher dermatologist compensation in the group setting and higher bargaining power of group practices.


Based on the Age Group, the market is segmented into 0-19, 20-39, 40-59, 60-64, 65-74, 75-84, and 85 & above.

  • The 40-59 years age group segment held the highest market share of 26.3% in 2021. This growth was attributed to the high prevalence of skin cancer in this age group as a result of prolonged sun exposure. The 20-39 years age group segment is anticipated to witness the fastest growth rate over the forecast period.
  • The incidence of melanoma in children increased by 1.7% every year from 1975 to 1994; however, it decreased by 0.6% from 1995 to 2014. Approximately, 400 patients are diagnosed with melanoma each year in population younger than 20 years in the U.S. The increasing sun exposure due to climate change is expected to increase the prevalence of skin cancer among younger population.

 

Key Companies & Market Size Insights

Advancement in the field of skin cancer diagnosis and treatment is the key focus of competitors. The rising burden of skin cancer is expected to force major players to collaborate and discover advanced techniques for the efficient diagnosis of the disease. The key companies are concentrating on strategic initiatives, such as geographical expansions and strategic collaborations. For instance, in 2019, MetaOptima signed a national agreement with Sonic Healthcare to implement DermEngine software across Australian skin cancer centers. Some of the prominent players in the U.S. & Canada skin cancer dermatology market include:

  • Firefly
  • SkinIO
  • Canfield Scientific, Inc.
  • FotoFinder Systems, Inc.
  • 3Gen
  • MetaOptima
  • Agilent Technologies
  • SkinVision
  • Speclipse, Inc.
  • Skin Analytics

 

Order a free sample PDF of the U.S. & Canada Skin Cancer Dermatology Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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