Global Dermatological Diagnostics and Therapeutics Market - Overview
Skin is the largest organ of the body and dermatology studies it and includes its extensions like sweat glands, hair, nails, etc. And, as the world sees rapid urbanization and a rising disposable income corresponding to it, care and concern have both risen, leading to significant growth in the global dermatological diagnostics and therapeutics market.
The global dermatological diagnostics and therapeutics market is on its way to chart a decent CAGR (Compound Annual Growth Rate), and contribute to the growth of market worth. This in turn will accrue in the form of revenue to with market players.
The study report on global dermatological diagnostics and therapeutics market, by Transparency Market Research (TMR) is an incisive deep-dive into market growth dynamics and competition. It examines the numerous drivers and trends. It also provides analysis of regional growth in order to aid the global dermatological diagnostics and therapeutics market players to strike an advantage over other players. Besides, it has the historical data and the forecast details for players to make educated decisions over the forecast period of 2015 to 2023.
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Global Dermatological Diagnostics and Therapeutics Market – Key Trends and Drivers
Global Dermatological Diagnostics and Therapeutics Market will grow on the back of an ageing population and rise in the use of social media across all age groups.
One of the most important statistic in this case scenario is that the age bracket of 65 and above will have one in every six people, on a global level, in another thirty users – by 2050. It is also pertinent to note here that the ratio would be one every four in the parts of North America and Europe. It is also quite significant to note that demographics-wise, history was created when in 2018, number of people aged 5 and below fell lower to the number of people aged 65 and above. In terms of the age group of 60 and above, population will increase from a 900 million in 2015 to a significant 2 billion in 2050.
As the number in terms of age increases, skin stops repairing itself as well as it did back in the youth. Thus, skin-related disorders become common – elasticity and strength decrease, secretion level falls. This leads to a higher demand for Dermatological Diagnostics and Therapeutics, propelling growth in the market.
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Global Dermatological Diagnostics and Therapeutics Market – Key Companies
Global Dermatological Diagnostics and Therapeutics Market is fragmented and the prominent companies that mark its landscape include AGI Dermatics, Allergan Inc, Amgen Inc, Chester Valley Pharmaceuticals Inc, Dermik Laboratories Inc, Eisai Inc., Ferndale Laboratories Inc., Genentech Inc., Medicis Pharmaceutical Corp, Onset Therapeutics, Prime Pharmaceuticals Corp, Schering-Plough Corp, Sinclair Pharmaceuticals, Skinmedica Inc., Summers Laboratories Inc, Valeant Pharmaceuticals International, and others.
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Global Dermatological Diagnostics and Therapeutics Market – Regional Analysis
The region that will lead the Global Dermatological Diagnostics and Therapeutics market is North America, owing to its population ageing at a quick pace. Other factors include high levels of awareness regarding the diagnostics and therapeutics options available. Besides, some of the most prominent players in the market are present in the region, driving it from strength to strength.
However, market players will have a sharp focus on the Asia Pacific (APAC) region owing to a wise pool of patients, marked rise in levels of awareness regarding skin conditions and treatment options. Additionally, nations in the region are doing well, and that performance is translating to higher disposable incomes, driving the market forward.
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