PUBLISHER: Inkwood Research | PRODUCT CODE: 1294755
PUBLISHER: Inkwood Research | PRODUCT CODE: 1294755
The global skin cancer diagnostics market is projected to grow with a CAGR of 7.13% during the forecast period 2023-2032. The market's growth is mainly fueled by the increasing prevalence of skin cancer, the surging awareness about skin cancer diagnosis & treatment, as well as technological advancements in skin cancer diagnostic products.
Skin cancer diagnostics entails the segment of the healthcare industry that covers various technologies, products, and services associated with the diagnosis, assessment, and detection of skin cancer. Skin cancer diagnostics methods generally include an amalgamation of visual inspection, dermoscopy, clinical examination, and tissue samples' histopathological analysis.
Advanced technologies, including artificial intelligence (AI), are being widely utilized for the development of innovative skin cancer detection systems, capable of identifying the condition more efficiently and accurately compared to conventional methods. For instance, DermTech developed an AI-powered skin cancer detection system termed Athena. The system has demonstrated high accuracy in terms of identifying skin cancer. As a result, such cutting-edge technological advancements in skin cancer diagnostic products are projected to play an essential role in fueling the global skin cancer diagnostics market growth during the forecast period.
The global skin cancer diagnostics market growth analysis covers the study of North America, Europe, Asia-Pacific, and Rest of World. The market in North America is set to capture the highest revenue share by 2023. The regional market's growth is propelled by key factors, such as significant investments in the research & development of skin cancer diagnostics products by major players as well as the increasing prevalence of skin cancer.
The industrial rivalry in the global skin cancer diagnostics market is expected to be high during the forecast period. Moreover, players with a larger product portfolio and significant R&D investments create strong competition in the global market. Some of the top companies operating in the market include DermTech Inc, Michelson Diagnostics Ltd, NeraCare GmbH, etc.