U.S. & Canada Skin Cancer Dermatology Market Size, Share, Forecast Report, 2020-2027

The U.S. and Canada skin cancer dermatology market size was valued at over USD 1.4 billion and USD 0.4 billion respectively in 2019 and is anticipated to expand at a compound annual growth rate (CAGR) of 5.2% and 6.3% respectively from 2020 to 2027. The growing prevalence of skin cancer is contributing largely to the growth. Furthermore, growing awareness among people about skin cancer and technological advancements in the dermatology field is also considered as the major driving factors.

According to the American Academy of Dermatology, in 2019, nearly 9,500 people in U.S. were diagnosed with skin cancer each day. It is estimated that one in every five individuals in U.S. is likely to be diagnosed with skin cancer in their lifetime. In Canada in the year 2019, nearly 7,800 residents were estimated to be diagnosed with melanoma and nearly 1,300 were estimated to have died due to melanoma. The high incident rate of melanoma in Canada and U.S. is anticipated to fuel the demand for skin care dermatology.

The presence of organizations that aim to increase awareness regarding skin cancer and reduce its incidence rate is anticipated to fuel market growth. The American Academy of Dermatology (AAD) intends to reduce skin cancer-related incidence and mortality by educating the public about the techniques that aid in minimizing the risk of the disease and facilitate them in the identification of the cancer or a potentially cancerous skin lesion. AAD also aims to set high clinical practice standards and undertake public awareness programs and research activities in the field dermatology to enhance patient care whereas the Canadian Dermatology Association aims to increase public awareness levels regarding sun protection and prevention of skin cancer.

Technology plays a key role in the clinical decision-making behavior of dermatologists. The introduction of teledermatology and the growing number of smartphone-compatible diagnostic devices has enabled the dermatologist to undertake remote patient diagnosis and monitoring, thus reducing the number of unnecessary office procedures. Furthermore, the EHR technology also enables dermatologists to select a cost-effective therapy for the patient.

Test Type Insights
Based on test type, the U.S. and Canada skin cancer dermatology market is segmented into skin biopsy, dermatoscopy, diagnostic imaging, and lymph node biopsy. Skin biopsy held the largest market share in 2019, 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 a rapid pace over the forecast period due to the introduction of advanced non-invasive techniques such as reflectance confocal microscopy (RCM) or optical coherence tomography (OCT), which have increased the accuracy of diagnosis. Furthermore, the combination of RCM with dermatoscopes is also expected to enhance the accuracy of diagnosis and aid in the differentiation between malignant and benign skin cancers.

Age Group Insights
On the basis of age group, the market for U.S. and Canada skin cancer dermatology is segmented into 0 to 19, 20 to 39, 40 to 59, 60 to 64, 65 to 74, 75 to 84, and 85 and above. The 40 to 59 age group segment accounted for more than 25% of the market share in 2019, due to the high prevalence of skin cancer in this age group. The high prevalence of skin cancer in this age group can be attributed to prolonged sun exposure. The 20 to 39 age group is anticipated to witness lucrative growth over the forecast period. This can be attributed to the popularity of tanning equipment and tanning salons among the individuals in this age group.

Facility Type Insights
Based on facility type, the market is segmented into stand-alone practices, multispecialty clinics, dermatology groups, hospital OPD, and others. Hospital OPD dominated the market share in 2019. The purchase of devices in large numbers accompanied by high demand for healthcare services and procedures in this setting is considered to play a vital role in the segment’s market share. The presence of public insurance systems and the availability of advanced technologies and procedures in hospitals is expected to be the main segment driver.

Multispecialty clinics and dermatology groups held a relatively higher market share than solo practice in 2019. This can be attributed to rising costs and complexities of solo practice along with relatively higher dermatologist compensation in the group setting and higher bargaining power of group practice.

Key Companies & Market Size Insights
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 U.S. and Canada skin cancer dermatology market include:

Firefly

SkinIO

Canfield Scientific, Inc.

FotoFinder Systems, Inc.

3Gen

MetaOptima

Agilent Technologies

SkinVision

Speclipse, Inc.

Skin Analytics.

Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, has segmented the U.S. and Canada skin cancer dermatology market report on the basis of test type, facility type, age group, and country:

• Test Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Skin Biopsy

  • Dermatoscopy

  • Diagnostic Imaging

  • Lymph Node Biopsy

• Age Group Outlook (Revenue, USD Million, 2016 - 2027)

  • 0-19

    • Male

    • Female

  • 20-39

    • Male

    • Female

  • 40-59

    • Male

    • Female

  • 60-64

    • Male

    • Female

  • 65-74

    • Male

    • Female

  • 75-84

    • Male

    • Female

  • 85 & above

    • Male

    • Female

• Facility Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Stand Alone Practices

  • Multispecialty Clinics

  • Dermatology Group

  • Hospital OPD

  • Others

• Country Outlook (Revenue, USD Million, 2016 - 2027)

  • U.S.

  • Canada