Dermatology Markets on Simmer as Regions Saturate but Skin Diseases Grow in Prevalence

Published Date : Mar 04, 2016

Simply put, dermatology is the scientific and medical branch which involves the examination and treatment of skin diseases, as well as disorders of nails and hair. This involves both therapeutic and surgical content of medicine. The skin is the largest organ of the body and is also a medical barometer of sorts, where any internal ailments are almost always visible on the skin. One of the most common issues, or warning signs, in skin is the formation of acne. 

Skin Diseases on the Rise
The American Academy of Dermatology, or the AAD, had previously released a report, in which they stated that at least 80 percent of the population in the United States has had acne at least once in their lives. They go on to state that at any given moment, at least 40 million people have acne on their skin. In terms of market values, the U.S. citizens spend a minimum of US$2.0 billion every year on the treatment as well as prevention of acne.

The train does not stop there. There is a growing prevalence of chronic as well as deadly skin diseases, including cancer, around the world. Doctors everywhere are recording the rise in the number of people who are suffering from these diseases. This is one of the major reason for a positive growth scale in the global market for dermatology devices and therapeutics. And there are even those skin diseases that are exceptionally rare. Diseases that affect such a minor percentage of the human population that most non-medical people are completely unaware of them. The additional set of problems that stem from lack of awareness can even become the difference between life and death.

The market is not completely stable, however. The Affordable Care Act, for instance, had begun targeting the dermatology markets a few years ago. Discretionary spending and tax revenue generation being the primary areas of focus for this Act, there is also the problem that could arise from the high levels of unaffordability for common consumers for dermatology therapies.