Global dermatology diagnostic devices market expected to reach USD 1 billion by 2023

According to a report by Transparency Market Research, the global dermatology diagnostic devices market is estimated to expand at a CAGR of 6.90% over 2015-2023. The market is anticipated to rise from USD 0.6 billion to USD 1.0 billion over 2014-2023. On the other hand, the dermatology therapeutics market is poised to rise at a slow CAGR of 1.90% over 2013-2018 and at 1.60% over 2018-2023. The value of the dermatology therapeutics market is estimated to rise from USD 17.5 billion to USD 20.1 billion over 2014-2023. The key drivers fuelling the growth include rising prevalence of chronic skin conditions, the changing patient demographics, expanding geriatric population pool, and the surge in disposable income in emerging economies. In 2014, North America dominated the global dermatology diagnostic devices as well as the dermatology therapeutics market. Asia Pacific is considered to report the fastest growth over the forecast period.