Trichoscope Devices Market to Reach US$ 73.4 Mn by 2031: TMR Study

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Oct 06, 2022, 07:30 ET

Increasing population sections suffering from hair fall triggering demand for trichoscope devices and augmenting growth in global trichoscope devices market
Rising prevalence of scalp issues is assisting in expansion of overall market
North America witnessed substantial growth in global market in 2021 because of increased adoption of advanced trichoscope devices in the U.S. and Canada

WILMINGTON, Del., Oct. 6, 2022 /PRNewswire/ -- The last decade has witnessed an increase in population sections suffering from hair issues. As a result, need for trichoscopy procedures that use trichoscope devices to identify hair or scalp issues has risen, significantly. Available in both smartphone-based and computer-based device types, trichoscope devices are deployed extensively in dermatologic and trichology clinics.

The global trichoscope devices market is expected to advance at CAGR of 7.3% during the forecast period, starting in 2022 and ending in 2031. Growth strategies such as new product launches are assisting leading market players in gaining an edge over other players and in generating new revenue streams.

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Leading market player Medtronic, in April 2021, announced the launch of the first infusion set with a week-long wear time to assist diabetic patients reduce the burden.

Key Findings of Trichoscope Devices Market Study

Growing Population Sections Suffering from Hair Fall Fueling Growth in Trichoscope Devices Market: The last few years have witnessed increase in population sections suffering from hair loss. Key factors behind hair fall are rising stress levels as well as reduced intake of food products that are rich in nutritional content. Furthermore, growing smoking population is also leading to hair loss issues and fueling the need for trichoscopy procedures. Increasing demand for trichoscopy procedures is augmenting the growth in overall trichoscope devices market
Rising Demand for Smartphone-based Devices Boosting Growth in Overall Trichoscope Devices Market: Smartphone-based trichoscope devices emerged as largest revenue contributor to global trichoscope devices market, in 2021. Ease of capturing images and offering excellent imaging of scalp surface were the key factors, behind the increasing demand for smartphone-based trichoscope devices. Furthermore, smartphone-based trichoscope devices can be used in remote locations. Growing demand for smartphone-based devices is triggering the growth in global trichoscope devices market
Increasing Visits to Dermatologic and Trichology Clinics Augments Growth of Overall Market: Dermatologic and trichology clinic end-use segment held a major share of the overall trichoscope market in 2021. Rising population sections suffering from hair issues led to increase in number of visits to dermatologic and trichology clinics for treatment purposes, which led to increased deployment of trichoscope devices and stimulated the growth in overall market

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Trichoscope Devices Market: Key Drivers

Increasing prevalence of scalp issues is one of the key driving factors of global trichoscope devices market
Rising demand for handheld dermatoscopes is augmenting the growth in overall trichoscope devices market

Trichoscope Devices Market: Regional Market Insights

North America is expected to witness significant growth in global trichoscope devices market, during the forecast period. Increase in adoption of advanced trichoscope devices to treat patients suffering from hair diseases as well as growing awareness about appearance among consumers in countries such as the U.S and Canada are key factors that are expected to drive market growth in the region
Europe is projected to witness strong growth in trichoscope market during the forecast period due to increasing consumer sections suffering from hair loss in countries such as the U.K. and Germany

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Trichoscope Devices Market: Key Players

The global trichoscope devices market has fewer prominent players and as a result, the competition landscape in overall market is consolidated. It is anticipated that entry of new players will intensify the competition in global market, during the forecast period.

Some of the leading players in overall market include TrichoLAB, MetaOptima Technology Inc., Canfield Scientific Inc., Cosderma, and FotoFinder Systems GmbH.

The global trichoscope devices market is segmented as follows:

Modality

Handheld Dermatoscope
Video Dermatoscope

Device type

Smartphone-based
Computer-based

Light source

White LED
U.V light
Normal light

End-use

Dermatologic and Trichology Clinics
Salons
Laboratories
Others (hospitals and Med Spas)

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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