“Global Skin Cancer Diagnostics Market to reach a market value of USD 12.8 Billion by 2031 growing at a CAGR of 5.3%”
The Global Skin Cancer Diagnostics Market size is expected to reach $12.8 billion by 2031, rising at a market growth of 5.3% CAGR during the forecast period.
A combination of high skin cancer prevalence, advanced healthcare infrastructure, and strong government support drives the market in this region. Skin cancer, particularly non-melanoma and melanoma is highly prevalent in the United States, with millions of cases diagnosed annually. This widespread incidence necessitates extensive diagnostic services. Advanced healthcare systems in North America, particularly in the United States and Canada, are equipped with state-of-the-art diagnostic tools such as dermatoscopes, confocal microscopes, and AI-enhanced imaging systems, which enhance diagnostic accuracy and efficiency. Thus, the North America region acquired 37% revenue share in the market 2023.
The proportion of people diagnosed with melanoma around the world has been gradually climbing, which has led to a rise in the demand for cutting-edge diagnostic tools and technology. Globally, 132,000 melanoma skin cancers and 2 to 3 million non-melanoma skin cancers are diagnosed annually, according to the World Health Organization (WHO).
Additionally, it is projected that the incidence of skin cancer will increase, particularly among those who are 50 years of age or older, as the global population advances in age. Consequently, the demand for more comprehensive diagnostic methods and healthcare services will increase.
However, advanced equipment such as dermatoscopes, confocal microscopes, and sophisticated imaging systems represent cutting-edge technology for accurate and early skin cancer detection. However, the development and manufacturing of these tools involve substantial investment, which is reflected in their market prices.
Based on cancer type, the market is characterized into melanoma and non-melanoma. The non-melanoma segment garnered 72% revenue share in the market in 2023. Basal cell carcinoma (BCC) and squamous cell carcinoma (SCC), the two most prevalent forms of skin cancer, are the primary factors driving the segment.
On the basis of test type, the market is classified into dermatoscopy, skin biopsy, lymph node biopsy, imaging tests, and others. The imaging tests segment recorded 27% revenue share in the market in 2023.
By end-use, the market is divided into hospital & clinics, laboratories, and others. The hospital & clinics segment witnessed 51% revenue share in the market in 2023. Patients who require medical attention for skin issues, including potential skin cancer, are served by hospitals and clinics as their primary sites of care.
Free Valuable Insights: Global Skin Cancer Diagnostics Market size to reach USD 12.8 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 23% revenue share in the skin cancer diagnostics market in 2023. Countries like Australia face high skin cancer rates due to significant UV exposure while emerging markets such as China, India, and Japan are witnessing increasing skin cancer cases.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 8.6 Billion |
| Market size forecast in 2031 | USD 12.8 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.3% from 2024 to 2031 |
| Number of Pages | 219 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Test Type, End-use, Region |
| Country scope |
|
| Companies Included | Castle Biosciences, Inc., Bausch Health Companies, Inc. (DermTech, Inc.), Canfield Scientific, Inc., DermaSensor, Inc., F. Hoffmann-La Roche Ltd., NeoGenomics, Inc., Quest Diagnostics Incorporated., Digital Diagnostics, Inc. (3Derm Systems, Inc.), FotoFinder Systems GmbH and Veriskin Inc |
By Type
By Test Type
By End-use
By Geography
This Market size is expected to reach $12.8 billion by 2031.
Increasing incidence of skin cancer are driving the Market in coming years, however, High cost of advanced diagnostic tools restraints the growth of the Market.
Castle Biosciences, Inc., Bausch Health Companies, Inc. (DermTech, Inc.), Canfield Scientific, Inc., DermaSensor, Inc., F. Hoffmann-La Roche Ltd., NeoGenomics, Inc., Quest Diagnostics Incorporated., Digital Diagnostics, Inc. (3Derm Systems, Inc.), FotoFinder Systems GmbH and Veriskin Inc
The expected CAGR of this Market is 5.3% from 2024 to 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4.6 billion by 2031.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 