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REPORT HIGHLIGHT

Skin Cancer Diagnostics Market size was valued at USD 9,114.5 Million in 2023, expanding at a CAGR of 5.90% from 2024 to 2032.

The procedure for identifying and diagnosing skin cancer is called skin cancer diagnostics. This encompasses a number of methods, including molecular pathology, histology, immunohistochemistry, electron microscopy, physical examination, and biopsy. Among the cancers that impact the skin is skin cancer. Skin cancer comes in three primary forms: squamous cell carcinoma, malignant melanoma, and basal cell carcinoma. Globally, the incidence of skin cancer is rising due to factors including ageing populations and prolonged UV exposure, which is driving the market for skin cancer diagnostics. This is driving the need for efficient diagnostic tools. Furthermore, more people are being encouraged to have regular tests for skin cancer due to rising public awareness and educational initiatives regarding the significance of early diagnosis.

Skin Cancer Diagnostics Market- Market Dynamics

Rising Incidence of Skin Cancer

Skin cancer has been one of the most common types of cancer in recent decades, with both melanoma and non-melanoma skin cancers becoming more common. Over 1.5 million new instances of skin cancer were anticipated to be reported in 2020, according to the World Health Organization (WHO). In addition, the European Commission reports that in 2020, cutaneous melanoma accounted for 4% of all new cancer diagnoses in the EU-27. It was also responsible for 1.3% of all deaths from cancer. Skin cancer is the sixth most often diagnosed malignancy in Europe. The global market for skin cancer diagnostics is expected to expand throughout the forecast period as the prevalence of other cancers, including skin cancer, rises worldwide.

Skin Cancer Diagnostics Market- Key Insights

As per the analysis shared by our research analyst, the global Skin Cancer Diagnostics Market is estimated to grow annually at a CAGR of around 5.90% over the forecast period (2024-2032)

Based on test type segmentation, the skin biopsy category was predicted to show maximum market share in the year 2023

Based on cancer type segmentation, the non-melanoma was the leading segment in 2023

On the basis of region, North America was the leading revenue generator in 2023

Skin Cancer Diagnostics Market- Segmentation Analysis:

The Global Skin Cancer Diagnostics Market is segmented on the basis of Test Type, Cancer Type, End-user, and Region.

Based on test type, the market is segmented into Lymph Node Biopsy, Dermatoscopy, Imaging Tests, Skin Biopsy, and Others. The skin biopsy segment accounted for the majority of the market share in 2023. The most popular material for screening is skin biopsy, a medical technique in which a small sample of skin tissue is taken from the body. Skin biopsy is the gold standard for skin cancer diagnosis because of its precision, dependability, and adaptability. It is also essential for efficient skin cancer screening and treatment. The need for skin biopsies has increased significantly and is anticipated to continue to rise over the next several years. Because the worrisome skin lesion can be examined under a microscope, the process also yields a conclusive diagnosis. In addition, it assists in determining the type of skin cancer and its attributes, including stage and severity, as well as whether the lesion is malignant.

By end-user, the market is segmented into hospitals and clinics, laboratories, and others. With a significant market share in 2023, hospitals and clinics dominated the skin cancer diagnostics industry. Throughout the forecast period, this segment is also anticipated to increase at the fastest rate. The rising prevalence of skin cancer, improvements in diagnostic tools, and growing awareness of early diagnosis are all factors contributing to the skin cancer diagnostics market growth. The need for hospital-based skin cancer diagnostic services can be increased by integrating AI and teledermatology in hospitals, which can further improve diagnostic accessibility and accuracy.

Skin Cancer Diagnostics Market- Geographical Insights

Geographically, the Skin Cancer Diagnostics Market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.

In 2023, North America's share in the regional skin cancer diagnostics market was the greatest. Due to significant expenditures made in the research and development of skin cancer diagnostics products by leading companies operating in the region, including Dermlite LLC, Castle Biosciences Inc., and Dermtech Inc., the North American skin cancer diagnostics market has experienced significant expansion. Additionally, the market is growing due to the sharp rise in melanoma incidence. Furthermore, North America is leading the way in the development of skin cancer diagnostics, which offers significant potential prospects for the region's industry.

The market for skin cancer diagnostics is expected to develop at the quickest rate in the Asia Pacific due to rising environmental variables like UV exposure, growing awareness of skin cancer, and improvements in diagnostic technology. Along with government programs encouraging early identification and treatment of skin cancer, rising healthcare costs and easier access to medical facilities further fuel market expansion. Additionally, it is projected that the regulatory approvals for these skin cancer medications in the Asia Pacific, together with the existence of a sizable and underdeveloped market in the region's developing nations, will support the expansion of the skin cancer diagnostics market in Asia Pacific.

Skin Cancer Diagnostics Market- Competitive Landscape:

Among the top companies in the skin cancer diagnostics market are FOUNDATION MEDICINE, INC., Castle Bioscience, DermTech, bioMerieux Inc., DermaSensor, Inc., and others. Important firms are prioritizing upholding high standards of quality and gaining access to a sizable market by using the region's current consumer bases. Brands that have established credibility in the marketplace can benefit from this tactic. These companies are making significant investments in cutting-edge infrastructure and technology, which enables them to process and analyze a high volume of samples efficiently. In order to increase their market presence, businesses also engage in a number of strategic activities with distributors and other businesses. For instance, the diagnostics technology developer SkylineDx was granted European Patent No. 3827101 in January 2024, marking a breakthrough in cancer diagnosis and tailored therapy. Using gene expression signature levels, the patent describes new techniques for classifying and treating individuals with primary cutaneous melanoma.

Recent Developments:

February 2024: MelaNodal Predict, a very sophisticated predictive gene expression test, was introduced by Quest Diagnostics to assist in customizing treatment choices for patients with melanoma, a type of skin cancer and one of the most prevalent diseases in the United States.

January 2024: DermaSensor Inc. was granted FDA approval for its noninvasive skin cancer assessment system, which employs artificial intelligence to identify common skin malignancies like SCC, basal cell carcinoma, and melanoma. Using an FDA-approved algorithm, the wireless, handheld gadget gives quick, objective data, enabling doctors to assess suspected lesions without the need for intrusive treatments.

April 2023: SkylineDx and NeraCare GmbH announced that they will work together to create a test that would allow life science businesses to launch critical melanoma treatments more quickly.

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

GLOBAL SKIN CANCER DIAGNOSTICS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS

GLOBAL SKIN CANCER DIAGNOSTICS MARKET, BY TEST TYPE- MARKET ANALYSIS, 2019 - 2032

GLOBAL SKIN CANCER DIAGNOSTICS MARKET, BY CANCER TYPE- MARKET ANALYSIS, 2019 - 2032

GLOBAL SKIN CANCER DIAGNOSTICS MARKET, BY END-USER- MARKET ANALYSIS, 2019 - 2032

GLOBAL SKIN CANCER DIAGNOSTICS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032

Table of Contents

1. Skin Cancer Diagnostics Market Overview

2. Executive Summary

3. Skin Cancer Diagnostics Key Market Trends

4. Skin Cancer Diagnostics Industry Study

5. Skin Cancer Diagnostics Market: COVID-19 Impact Analysis

6. Skin Cancer Diagnostics Market Landscape

7. Skin Cancer Diagnostics Market - By Test Type

8. Skin Cancer Diagnostics Market - By Cancer Type

9. Skin Cancer Diagnostics Market - By End-user

10. Skin Cancer Diagnostics Market- By Geography

11. Key Vendor Analysis- Skin Cancer Diagnostics Industry

12. 360 Degree Analyst View

13. Appendix

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